DUBAI — The UAE is currently ranked as the top importer of Swiss watches in the Middle East (worldwide ranking - 11) followed by Saudi Arabia (worldwide ranking -19) and Kuwait (worldwide ranking-28).
The growth augurs well for the Swiss watch industry according to luxury Swiss watch manufacturer Baume & Mercier. "The sharp upturn in business for the luxury watch industry has benefited from very strong global demand," said Baume & Mercier CEO, Michel Nieto.
He noted that the luxury sector was performing strongly with watches doing strong business during 2007. "The Federation of the Swiss Watch Industry is projecting 2007 to be a record year and we are looking forward to an even better 2008," Nieto said.