Dubai – Apple’s Next Potential Gold Mine

Apple is said to open a retail store in Brazil’s Rio de Janeiro. The technology giant is planning to open for by March 2014. A store in Brazil is actually a very smart expansion step for a number of reasons. First of all, with this move Apple will manage to establish a good presence in Latin America. The region recently recorded a smartphone sales growth of 53%. This makes Latin America the region with the fastest rising smart mobile phone penetration. In addition, web penetration in Latin America is also very high. Currently it is estimated at 45%. This means that about 250 million people on the continent are regular Internet users. Brazil is also the biggest and most powerful economy in the region. Therefore, the pricey Apple devices will have no problem selling there. Most importantly, the store will open just in time for the 2014 FIFA World Cup, which will take place in the country. The event is predicted to attract millions of people from all over the world. In other words, the more the merrier or, in this case, the higher the sales.

Is Dubai Next?

Taking these facts into consideration, Dubai has a potential to become the next city with an Apple retail store. Smartphones are also a top selling product in the Middle East, still ahead of tablets. According to a report by Global Media Intelligence, for only one year, smartphone penetration in the region nearly doubled, reaching 112.2 million. Also, the UAE has the second highest smart mobile phone penetration in the Middle East (73%).

In terms of Internet penetration, web users in the region make up 40.2% of the population. In the UAE, it is estimated at the unbelievable 70.9%. In addition, the iOS mobile platform is one of the most popular in the country. It enjoys a market share of 35%.

Just like Brazil will host FIFA 2014, Dubai may host World Expo 2020. If Dubai’s bid is successful, the city may attract as many as 25 million tourists. The event will also boost the country’s economy which is already one of the fastest growing in the world.

So, Apple, if you are looking for a spot for your next retail store, Dubai would be a good option.

Back in 2012, an insider from Apple’s research team told Dubai Chronicle that the company is planning to open its first retail store in the Middle East right in the Dubai Mall, as it was impressed with the 65 million footfall the shopping centre registered in 2013.

At present, the company operates in the region from a small office in Abu Dhabi. It keeps hiring in small numbers, which suggests expansion. The competition for a place in the Abu Dhabi office is unbelievable – for one job over 1000 candidates apply.

However, Abu Dhabi can’t compare in terms of trade and retail potential to Dubai, which is known as a trade hub for the Middle East since the beginning of the century.