Consumer spending in UAE to top USD261bn by 2021| MENAFN.COM

Saturday, 28 January 2023 10:42 GMT

Consumer spending in UAE to top USD261bn by 2021


(MENAFN) Consumer spending in the UAE will top USD261bn by 2021, growing at a compound annual growth rate of 7.5 percent over the coming five years.

Accordingly, the UAE's consumer market is driven by a fast-increasing population with high incomes, which are economic fundamentals.

In addition, the UAE consumer spending per household in 2016 reached almost USD103.000, the highest compared with neighboring Gulf nations.

Meanwhile, housing expenditure for UAE consumers was pegged at USD75.7bn, or almost 41 percent of whole spending last year.

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