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Abu Dhabi spirits boom fuels recovery
Abu Dhabi, the capital of the United Arab Emirates, is leading the federation out of recession with booming spirits sales.
According to an article published this week in The Financial Times, Diageo – the world’s biggest drinks company – has seen a 28% increase in year-on-year sales in the city.
“We are seeing huge growth in Abu Dhabi”, said Hugo Mills, Diageo’s regional general manager. “And with the World Cup in Qatar in 2022, this should keep the region buoyant in the future”.
Diageo’s sales have yet to recover to 2008 levels in Dubai, but duty-free sales were up 14% in 2010 at the world’s fifth busiest airport, reaching a record US$1.3 billion, and sales are expected to double when Abu Dhabi and Qatar proceed with aviation expansion plans, set to cost the region US$86bn.
Elsewhere in the Middle East, Lebanon is also capturing the attention of alcohol producers.
“Lebanon is a very premium market – customers are trading up, they want expensive bottles”, said Jane Ewing, managing director for Diageo’s Global Travel and Middle East businesses.
Lebanon exports its own wines, grown largely in the Bekaa Valley, along with Almaza beer.
Lucy Shaw, 05.01.2011