MUSCAT, DEC 9 – Oman’s retail sector is all set to grow by 7 per cent thanks to the increased shopping habits and individual purchasing power, according to the head of Middle East Council of Shopping Centres, a part of International Council of Shopping Centre (ICSC).
David Macadam (pictured), CEO, MECSC believes that this scenario can trigger the highly sophisticated industry can positively contribute to the GDP of the country.
“Oman’s retail sector is all poised to grow by 7 percentage per annum in the coming months and is a highly positive sign that it can contribute to the national GDP as it has been growing by 5-7 percentage in the last few years”, Macadam told the Observer.
Speaking on the sidelines of the conference that focuses on the retail sector in the region, its trends and networking with the peers, he said that even the grown up markets are somewhere around 10 per cent and the trends in Oman is highly laudable.
“The trends in retail sector have started from a very low level and is growing at a tremendous pace. The more shopping centre you have the more opportunities people do have and they have more options as to where to shop, where to go out with families and is having a great social impact as it enables familial networking potential”, he added.