UAE consumer spending continues to grow for third straight month

In a sign that bodes well for an eventual market recovery after the coronavirus, consumer spending in the UAE continues to increase for the third straight month, jumping 63 percent in August as compared to March, according to statistics released by the Federal Competitiveness and Statistics Authority (FCSA).

Hoteliers were among the top beneficiaries, as spending rose 29 percent in August comparatively with March. The number of hotel establishments (hotels & hotel apartments) reached 1,136 by the end of 2019.

According to the statistics, spending in restaurants improved by 75 percent in August. In the apparel sector, expenditure increased by 78 in the reference period as shopping malls and outlets started to reopen nationwide.

In the meantime, expenditure on food supplies and medications, both online and conventional purchases, slowed at 32 percent as compared to March.

News Source: http://wam.ae/en/details/1395302866015

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