€712 million in Italian jewelry exports to the UAE over six months
€3.1 billion in jewelry sales projected in the UAE by 2024
600 Italian companies operating in various sectors in the UAE
Dubai is becoming a “secure market” beyond just gold, with trade thriving due to the confidence in the business environment. In the first half of 2025, Italian jewelry exports to the UAE reached €712 million, marking a 17% increase compared to the same period last year.
This information was shared by Valerio Soldani, the Italian trade commissioner in the UAE, who emphasized that the luxury jewelry market in the UAE is expected to grow by over 20% by 2029, according to the latest market reports, highlighting that everyone is racing to invest in Dubai.
Business Environment
In an interview, Soldani noted, “We have approximately 600 Italian companies across various sectors in the UAE, primarily in Dubai and Abu Dhabi.”
He explained that key factors contribute to making Dubai an ideal environment for their products. Accordingly, their companies have developed multi-channel strategies that include exhibitions, advertisements, private sales, e-commerce, and partnerships in the retail sector, allowing them to reach an ever-expanding customer base that evolves in sync with this comprehensive approach.
Regarding the size of the UAE jewelry market, Soldani remarked, “It is quite impressive; our latest market reports indicate that jewelry sales in the UAE reached €3.1 billion last year, with a projected compound annual growth rate of 3.8% by 2029. This will create new opportunities. However, considering that we are growing at a rate of 17% in luxury jewelry year-on-year in 2025, it means that our companies are expanding four times faster than the market. I believe this is why they focus more on quality and unique products rather than mass production.”
He added, “Today, no one wears jewelry just as an investment in gold; rather, they seek a story, identity, and innovative designs like pink coral, colorful bracelets, or simple, elegant diamond necklaces.”
Safe Haven
While gold is viewed as a safe haven, Soldani believes that the real refuge lies in countries like the UAE and markets such as Dubai, where trade flourishes due to confidence in the business environment and clarity of regulations. He stated that the comprehensive economic partnership agreements signed by the country provide significant opportunities for European and Italian companies to expand their reach into other markets from the UAE.
“Elegance is not about making a statement; it’s about being remembered,” reflects the wisdom of Italian fashion icon Giorgio Armani, who passed away last month. Soldani commented, “I think this saying encapsulates everything about the value of Italian style.”
He further noted, “The jewelry market in Dubai is very robust; everyone wants to be part of it, but it requires substantial preparation and effort due to intense global competition. The feedback from customers in Dubai, who form a young and digital-savvy demographic, truly tests any brand.”