State of the UAE Retail Economy Q4 Report Reveals Consumer Spending Growth of 19% in 2022
Key findings from the report include:
- The UAE recorded its strongest GDP growth since 2006, actualising to 7.9%
- Increases in consumer spending were 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
- Online supermarket and hypermarket spending grew by 40% in 2022, while offline growth was at 7%
- Property sales were at a record-breaking 12-year high in terms of volume and value, with transactions leaping by 60% in comparison with 2021
UAE News 24/7 