UAE Retail Industry Unaffected by Recession

Noida, India (PressExposure) September 16, 2009 -- The retail industry in the UAE is thriving on the back of expanding service sector (including tourism, banking and trading sectors) in the country. The sector contributed around 37% to the nation’s GDP in 2008. Young people lying in the age group of 20-40 years, enjoying higher income levels and excessively exposed to the western culture, constitute the major customer segment of the country’s retail sector. This is reflecting in ever increasing per capita retail spending in the country and driving the market to grow at a CAGR of nearly 12.5% till 2013, according to a new market research report “Booming Retail Sector in UAE” by RNCOS.

In our research, we have acknowledged the prevailing trends shaping the industry’s success. It has been identified that tourism industry has been steadily fueling the growth in nation’s retail sales since last few years. In 2008, the number of foreign tourist arrivals in the country surpassed 9 Million and are further anticipated to reach 18 Million by 2016, which will certainly assist retail industry to sustain its sky rocketing growth in future time.

We have also inferred that retail industry in the UAE has remained almost unaffected by the global economic slowdown amid its burgeoning construction industry. The country has seen opening of new giant malls and shopping centers routinely in last few years and similar trends are expected to prevail in the coming years. As a result, UAE offers enormous growth opportunities to new players.

Our report “Booming Retail Sector in UAE” is an in-depth analysis of the UAE’s retail industry, which focuses on all the prospective segments of the industry. The report highlights past and present performance of the country’s retail sector. It also facilitates structured snapshot of UAE’s prospective consumer behavior, which is an essential ingredient of business strategies formulation. The overview on opportunities and future forecast expedite understanding of the industry’s future course of direction and will help clients to make informed investment decision.

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About RNCOS E-Services Pvt. Ltd.

RNCOS, incorporated in the year 2002, is an industry research firm. We are a team of industry experts who analyze data collected from credible sources. We provide industry insights and analysis that helps corporations to take timely and accurate business decision in today's globally competitive environment.

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Press Release Submitted On: September 16, 2009 at 4:35 am
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