United Arab Emirates (UAE) nationals are the big spenders of the Arab World as they consume approximately $26.8 worth of goods daily, according to an Arab Fund for Economic and Social Development (AFESD) report.
Private consumption in the UAE, including all goods except for real estate, totaled $34.1 billion in 2002, the third highest figure after Saudi Arabia and Egypt. The Kingdom holds the number one spot in size of expenditure at $69.5 billion for 2002; however daily individual spending among Saudis is much lower than the UAE reaching only $8.18.
Kuwait came in close behind the UAE with a daily spending of approximately $22.4 and Qatar followed with an average individual spending of $18.20. Egypt, with the region’s largest population of 65.9 million in 2002, had a daily average spending of just $2.60 as total private consumption reached $63.4 billion for that year. Other nations with low average individual spending rates were Algeria, Syria, Sudan and Morocco.
Dubai’s large air-conditioned shopping malls form a key part of the Emirate’s social fabric. Families make shopping an outing, and friends meet in their coffee shops and ice-cream parlors, particularly during the hot summer months. Large centers contain a mix of department stores, supermarkets, boutiques, specialty shops, cafes and fast food outlets. — (menareport.com)
© 2004 Mena Report (www.menareport.com)
