(MENAFN) Retail sales in the GCC region are expected to increase by an average of 8 percent annually in the 2011-2016 period to USD699.2 billion, Times of Oman reported
The Head of Asset Management, Gulf Baader Capital Markets said: "Food constitutes 50 per cent of total retail spending, while demand for luxury brands show increasing trend. Expanding population base and growing urbanization of the GCC region are attractive for retailers.
The population in the GCC is estimated at around 42 million and is expected to reach 53 million by 2020
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.