Dubai, the global leader in luxury shopping, is getting a little bit more affordable again.
The country has launched a brand new loyalty program called “Irna” that offers a $1,000 cash bonus if you spend $100 in a single transaction in the first month of enrollment.
This comes as the global economy faces a recession, with growth slowing to 2 percent for the first time in seven years.
And the world’s most expensive city has seen a surge in shoppers looking to escape debt and become millionaires.
As a result, many Dubai residents have been buying up luxury brands like Louis Vuitton and Gucci, which are becoming more expensive and more sought-after.
“Irna’s the perfect opportunity to start up a brand-name brand,” said Ahmed Khaled, a former investment banker and former CEO of the Dubai Economic Development Authority.
“Irana is a big-ticket product that has been a luxury brand for a long time.
It’s an opportunity to make money off your name.”
The first batch of about 3,000 customers will be invited to take part in a trial period, where they can earn up to $100 per transaction and receive a $500 cash bonus.
But it will take about a month for them to see whether the rewards are worth it, said Mohamed Nasser, a senior vice president at the Dubai office of the U.S. consultancy Towers Watson.
“You’ll want to start small and you’ll want the loyalty program to be a big deal, and then you’ll have to take it to the next level,” he said.
In addition to a $100 bonus, the first group of Irna shoppers will also get access to discounts on Louis Vuitchos and Guzzies.
“I’ve never seen such a low price in my life,” said Nasser.
“This is a great opportunity for people to be able to go to a hotel for a night and buy the same thing.”
The new program, which began in the fall, also includes the opportunity to receive a free pair of Louis Vuits if they spend $1 million in a calendar year.
It is expected to generate about $200 million in annual revenue for the Dubai government.
The program, similar to the one offered in Dubai, is meant to lure people to the city and is not expected to have much effect on the economy.
However, Khaled said it will make Dubai a more attractive destination for new investors, and it could help boost the city’s tourism and other industries.
“It’s a way to introduce people to a brand,” he added.
One of the most exciting things about Dubai is that the population is expanding every day, he said, and “it’s a real opportunity to attract and build a lot of new businesses.”
While Dubai may not be a world-class destination for most people, it is a world leader in what is called the luxury economy.
The number of people living in Dubai rose to nearly 2 million in 2016, according to the Dubai Tourism Authority, and the city has attracted many affluent visitors from all over the world.
It has become known as the most expensive destination in the world for luxury goods.
The Dubai Economic and Social Council estimates that the economy generated $11.5 billion last year.
But the city does have some challenges.
The U.N. has said that the country has one of the highest poverty rates in the Middle East.
It also has a high crime rate, a major shortage of housing and a lack of basic services such as sewage and electricity.
But even the challenges are worth the price, Khale said.
“The only thing that will kill you here is the price,” he explained.
“You can have it for a very good price.
If you spend the $100 on a pair of Gucci shoes, it’s worth it.”
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