Retail is one of the fastest growing industries in the United Arab Emirates (UAE). In recent years, UAE has emerged as one of the leading countries in the world providing the most conducive retail environment. In fact, UAE is the fourth most attractive destination for retail after India, Russia and China, thanks to its rapid economic growth, rising purchasing power, favorable policy framework, and growing consumer spending.
Despite recession, the retail sector in the UAE continues to grow rapidly with an expected CAGR of over 12% to be achieved during 2009-2013. Factors like increasing household consumption and booming service industry (including tourism, banking and trading sectors) will drive the future growth of the retail sector. Also, the modern shopping malls anchoring state-of-the-art hypermarkets and various shopping events like Dubai Shopping Festival make the country a more lucrative destination for retail industry, says “Booming Retail Sector in UAE”, a market research report by RNCOS.
The per capita gross leasable area in UAE is growing at a blistering pace and surpassed 1 Sq Meter in 2008. This has resulted in significant surge in the country’s retail space and uplifted the retail spending in the country. The trend is forecasted to continue in future as well, helping UAE to emerge as one of the dense retail markets in the world.
Realizing its potential as a promising retail outfit, a number of large international retailers are heading to UAE. Sophisticated retail infrastructure base and oil-based wealth have further attracted the foreign retailers towards the country. This is not only boosting the retail environment in the country but also generating immense employment opportunities for the country’s population.
Our report “Booming Retail Sector in UAE” provides extensive research and rational analysis on various aspects of the UAE retail industry and underlines the key issues related to the industry. The conceptual treatment is provided for all relevant industry segments to facilitate the deep and informative understanding of the market. The research also studies the behavior of the UAE’s consumers with respect to their purchasing power, spending pattern, and inclination towards domestic and foreign brands. The future growth areas discussed in the report helps to analyze the emerging market segments for players.
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