March 17, 2023
State of the UAE Retail Economy Report Reveals Consumer Spending Growth of 19% in 2022
Majid Al Futtaim's State of the UAE Retail Economy Q4 report finds that UAE recorded its strongest GDP growth since 2006, actualizing it to 7.9%. An increase in consumer spending was noted in the retail (13%) and non-retail economy (29%). E-commerce sales are on a strong upward trajectory, more than doubling to USD 6 billion in 2022 from USD 2.6 billion in 2019.