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FINANCIAL NEWS
UAE retail sector to reach USD 54.4bn by 2017
12 Apr 2016
(MENAFN) The UAE’s retail sector is predicted to reach USD 54.4bn by 2017, increasing by 5 percent on average each year.
Furthermore, consumer spending is predicted to continue rising in the medium term, with growth rates projected to steady at 4 percent on average per year.
Additionally, retail and wholesale trade in the UAE accounts for more than 11 percent of its GDP and close to 30 percent of Dubai’s GDP.
On the other hand, consumers in the UAE spend most of their revenue on accommodation, with spending on housing reaching USD 75.67bn in 2014.
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