The 36th MidEast Watch & Jewellery Show that is currently under way at Expo Centre Sharjah is heading for one of its best performance in terms of visitor turnout in the recent history of the region’s popular jewellery fair.
The five-day show, which was opened on April 29 and will continue until May 3, registered a massive jump in the number of visitors on its first two days. On Tuesday, it recorded 10,955 footfalls as against the day one of the past edition’s 8,026, a surge of 36.5 per cent.
On April 30, nearly the same number of shoppers — 10,993 — thronged the venue, which was a 31.34 per cent rise when compared to the day two of the previous show.
“Most of our shows have been seeing massive rise in visitor turnout this year. The trend started with SteelFab (25%) and International Education Show (34%) and continued with almost all our shows held since then. Now, the MidEast Jewellery Show too is on the same track,” said Mr. Saif Mohammed Al Midfa, CEO, Expo Centre Sharjah.
The show, held under the patronage of His Highness Dr. Sheikh Sultan Bin Mohammed Al Qassimi, Supreme Council Member and Ruler of Sharjah, is featuring more than 450 exhibitors representing master jewellers and leading jewellery chains from across the world at 20,000 sq metres of exhibition space.
“Rising allure of gold and diamond jewellery is encouraging visitors to flock to the MidEast Watch & Jewellery Show. Gold prices are down more than seven per cent from their mid-March peak and hence an attractive buy for both common buyers and investors,” said Mr. Midfa. Gold has been trading near US$1,290 an ounce.
Exhibitors are also eyeing a big spurt in sale on Friday, which is the auspicious day of Akshaya Tritiya when Indians buy gold. It is believed that buying gold on Akshaya Tritiya brings prosperity to the buyer and his or her wealth never gets eroded.
“An Indian doesn’t really need an excuse to buy gold but making it an auspicious practice gives the purchase some sort of a moral sanction. Apart from the regular crowds, we are expecting more Indians on Friday. Besides, we are seeing a surge in gold tourists from India, where there is high premium on the yellow metal,” said Mr. Mohamed Amjed, Project Manager of the MidEast Watch & Jewellery Show.
Though globally investors are shying away from gold, the local picture is totally different – here low prices are driving more consumers to splurge on jewellery.
“I am here due to low prices and the sheer diversity of designs and customisation opportunities on offer. It is difficult to find such variety anywhere else at one single place,” said Ms. Afrah, who had come with her friends to check out the gold & diamond jewellery on display at the show.
The ‘Ploi-Thai’ Fashion Show being held as part of the Thailand Pavilion has also become a big crowd puller. The shows are giving visitors glimpses into a wide range of amazing and beautiful jewellery creations from the Land of Smiles.
The show is open to visitors from 12 noon to 10 pm daily, and from 4 pm to 10 pm on Friday. The admission is free.