United Arab Emirates Retail Report - Business Monitor International - Industry Reports

United Arab Emirates Retail Report

United Arab Emirates Retail Report - Business Monitor International - Industry Reports
United Arab Emirates Retail Report
Published Oct 22, 2016
63 pages — Published Oct 22, 2016
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Abstract:

BMI View: Even though commodities markets have stabilised, UAE has entered a period of weaker economic growth. Lower budget incomes and more prudent government spending will decelerate the growth in household incomes, whereas even poorer economic conditions in the main tourist markets, such as eurozone and Russia, will have a pronounced impact on retail sales in Dubai and Abu Dhabi. ...BMI View: Even though commodities markets have stabilised, UAE has entered a period of weaker economic growth. Lower budget incomes and more prudent government spending will decelerate the growth in household incomes, whereas even poorer economic conditions in the main tourist markets, such as eurozone and Russia, will have a pronounced impact on retail sales in Dubai and Abu Dhabi. However, despite a weaker-than-usual growth, total household spending is anticipated to expand by -.- this year - the most throughout the forecast period. ...

...Dubai s Landmark Group signed an agreement with Abu Dhabi s Reem Mall to open -- franchised stores in an area of close to --,-- sq m. Reem Mall is planned to open in ----. Shopping centres are under development outside Dubai and Abu Dhabi as well: Majid Al Futtaim has announced a USD---mn redevelopment plan of City Centre Ajman mall, which will almost double the project s area and bring the store count to ---. ...Dubai s Landmark Group signed an agreement with Abu Dhabi s Reem Mall to open -- franchised stores in an area of close to --,-- sq m. Reem Mall is planned to open in ----. Shopping centres are under development outside Dubai and Abu Dhabi as well: Majid Al Futtaim has announced a USD---mn redevelopment plan of City Centre Ajman mall, which will almost double the project s area and bring the store count to ---. ...The growth in total household spending will stay rather vigorous, averaging -.- throughout ---------. Clothing & footwear, a key component of the UAE s retail sector, will grow at the fastest rate among main sub-sectors.

...The UAE s involvement in action against Islamic State increases the risk of it being targeted in revenge terrorist attacks by Islamist militants, which would impact the tourism industry. A continued decline in oil prices has the potential to destabilise the retail sector over the long term. ...A continued decline in oil prices has the potential to destabilise the retail sector over the long term. Rising costs of living in the UAE pose a threat to the level of disposable income that residents (and therefore consumers) have. Due to fiscal problems in the UAE historically and pressure on fiscal situation there is a likelihood of VAT being introduced during ----, with the IMF suggesting a - sales tax, which would increase costs for retailers. ...

  
Source:
Document ID
2040-9311
Country
Industry
Format:
PDF Adobe Acrobat
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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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MLA:
Business Monitor International - Industry Reports. "United Arab Emirates Retail Report" Oct 22, 2016. Alacra Store. Dec 04, 2016. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/United-Arab-Emirates-Retail-Report-2026-1008>
  
APA:
Business Monitor International - Industry Reports. (2016). United Arab Emirates Retail Report Oct 22, 2016. New York, NY: Alacra Store. Retrieved Dec 04, 2016 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/United-Arab-Emirates-Retail-Report-2026-1008>
  
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