Dubai Spends, Spends, Spends
Global credit crunch? What global credit crunch? Total spending last year by UAE national and expatriate families in Dubai reached $10.3 billion in 2008!
According to the report, Asian families had the highest annual consumer spending due to their high number, with about $4 billion, which accounts for 38.6 percent of the total consumer spending by families in Dubai. The UAE national families come second with annual consumption of $2.64 billion, which is 25.7 percent of the total consumer spending by families, followed by the Arab families with $1.44 billion, or 14.2 percent.
So it’s not all doom and gloom, but before anyone gets carried away, the figures in 12 months time will represent a true reflection on how Dubai and the Gulf states are coping with the financial meltdown.
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Tags: Dubai records , financial , global credit crunch
The obviously leads to misguided conclusions… does it factor in the variance in income levels and how that impacts disposable income?
if you earn less, naturally, your will spend more than you can save – making your consumption higher…That was 1.
2, It doesn’t really break down consumption patterns. For example, some people spend 50 to 60% of their income on rent, utilities and essentials…
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