UAE’s consumer spending on the rise

August 5, 2020

In a sign that bodes well for an eventual market recovery after the coronavirus, consumer spending in the UAE increased by 65 percent in June 2020 as compared to March, according to statistics released by the Federal Competitiveness and Statistics Authority (FCSA).

Hoteliers were among the top beneficiaries, as spending jumped 15 percent in June comparatively with April. The number of hotel establishments (hotels & hotel apartments) upped to 1,136 by the end of 2019.

According to the statistics, spending in restaurants improved by 47 percent in June after retreating by 72 percent in April. In the apparel sector, expenditure rose by 52 in the reference period as shopping malls and outlets started to reopen nationwide. The same applies to food supplies and medications, both online and conventional purchases.

The figures show significant improvement in domestic economy which recovered by 80 percent, with the next few weeks projected to see spending rates back to normal.

Also Read: Major Drop in Abu Dhabi’s COVID-19 Cases

Also Read: Abu Dhabi’s Cafes to host 80% capacity

Read More: Abu Dhabi to ensure safety across sectors

Previous Story

Israel’s COVID-19 tally crosses 76K

Next Story

Kashmir ground situation improved in one year

Latest from UAE NEWS

IBPC lights up Diwali for UAE workers

IBPC Dubai celebrates Diwali with heartwarming gestures, distributing sweets and spreading joy across UAE labour camps, reinforcing its commitment to compassion, community

Green gold beneath the waves

Abu Dhabi, EAD and TotalEnergies launch seagrass restoration programme to protect marine biodiversity, store carbon, support dugongs, enhance fisheries, and lead global

Microsoft joins UAE money push

The MoU sets the stage for a strategic partnership aimed at integrating AI across the UAE’s investment ecosystem….reports Asian Lite News The

EDGE unleashes cyber shield

The flagship platform, PROTECTION360, expands EDGE’s capabilities in continuous attack surface management….reports Asian Lite News EDGE, the UAE-based global advanced technology and

UAE strengthens ties with WEF

During discussions, Sheikha Latifa highlighted the UAE’s commitment to fostering international collaboration and building frameworks that support forward-looking solutions to global challenges….reports