Mastercard Economics Institute’s Economic Outlook for 2024: Empowered consumers to balance price and priority

• Consumers in the United Arab Emirates (UAE) arefinding their equilibrium by carefully balancing prices and priorities
• Confidence in ecommerce purchases is high, but also in returns, with‘living rooms becoming dressing rooms’
• Strong labor market and healthy household balance sheets, on aggregate, should underpin consumer spending power in coming year

Dubai, United Arab Emirates;21December 2023:The Mastercard Economics Institutereleased ‘Economic Outlook 2024’, its annual report identifying the themes that will define the economic landscape. While the global economy will feel more “normal” in the coming year than the prior three, it will still be an economy seeking equilibrium, with a careful balancing of high interest rates, salaries and prices compared to pre-pandemic levels, found the report. The backdrop, however, remains one of consumer empowerment with moderating inflation and steady real economic growth, but with varied regional dynamics.

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