Dubai has solidified its position as the world’s leading destination for gold and diamond jewelry, as well as bullion trading. With demand surging among both UAE residents and tourists, experts say a new gold hub is needed to support the growing market.
According to market intelligence firm Statista, the global jewelry market is projected to grow from approximately $270 billion in 2022 to over $330 billion by 2026. Dubai’s gold sector has already seen record-breaking figures, with demand soaring in 2024.
A report based on data from the World Gold Council highlights this rapid growth. In the fourth quarter of 2024 alone, gold transactions in Dubai reached $111 billion. By the end of the year, total trade had hit an all-time high of $382 billion, setting new benchmarks in both price and volume.
This unprecedented growth reinforces Dubai’s reputation as a global gold trading powerhouse and signals the urgent need for expanded infrastructure to meet rising demand.
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