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FINANCIAL NEWS
Residents in UAE are Arabs’ top spenders
08 Feb 2012
(MENAFN) The Arab Monetary Fund (AMF) said that UAE residents are the top spenders in the Arab world, with domestic consumption in the country totaling USD176.9 billion in 2010, reported Emirates 24/7.
The Abu Dhabi-based AMF added that in the year, individual average spending reached USD21,577, the highest in the region.
On the other hand, Qatar, which has the highest GDP per capita in the Arab region, recorded a domestic consumption of nearly USD24.76 billion in 2010, with individual average spending standing at USD14,650.
Moreover, Saudi had the second largest domestic consumption in the region at around USD157.4 billion, with individual average spending at USD5,808 for a population of around 27.1 million.
It is worth noting that the lowest individual spending rate in the Arab world in 2010 was recorded in Comoros, standing at USD773 and Djibouti at USD938.
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