INTERNATIONAL. The combined wealth of the 40 richest individuals on Earth is US$1.1 trillion; Alwaleed ranks 24th on the index with a net worth of US$20.5 billion; Carlos Slim remains the richest person in the world, with a fortune of US$68.8 billion.
UAE. Consumption of luxury goods up 11% in the GCC, according to Bain & Company; China luxury market shows a shift in consumer preferences and ties to the GCC; In the UAE, Chinese represent about 2.5% of overall tourists, but account for 7% of the mall footfall and even bigger part of the spend.
UAE. "The dark clouds of protectionism" gathering over the air travel industry in Europe and the U.S. pose a significant threat to the millions of travellers who have benefitted from new choice in the market, said James Hogan, in a keynote speech in London.