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FINANCIAL NEWS
Dubai’s retail sector to hit USD40.82b by year-end
21 Aug 2014
(MENAFN) According to reports, Dubai’s retail sector is to worth a remarkable USD40.82 billion by the end of 2014 as the emirate’s households shopping power is on the rise, Khaleej Times reported.
The growth was led by positive economic indicators and strong rebound in tourism and hospitality sector, as Dubai’s households spend between USD10,000 and USD23,135 each year.
‘The retail sector remains one of the most vital streams for economic activity in the emirate and the industry is likely to witness significant growth in the lead up to Expo 2020 in six years’ time,’ CBRE Middle East managing director said.
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