Consumer spending in UAE to reach Dh677b

With the economy recovering and the cost of living moving upward, consumers in the UAE are expected to spend more out of their pockets this year and in the next few years, industry analysts told Gulf News.

According to Euromonitor International , consumers are forecast to spend Dh677 billion this year, up 4.1 per cent in real terms over 2012.

An Hodgson, income and expenditure manager at Euromonitor International , said the fastest growth will come from the communications sector, with spending expected to hit 7.2 per cent year-on-year in real terms this year, while spending on housing will grow by 4.2 per cent.

Read more: http://www.zawya.com/story/Consumer_spending_in_UAE_to_reach_Dh677b-GN_03042013_040428/