Non-retail economy consumer spending growth UAE Q1 2021-Q4 2022
In Q4 of 2022, consumer spending in the non-retail economy in the United Arab Emirates grew by 27 percent. The last three quarters of 2022 saw relatively similar consumer spending growth, between 27 and 29 percent. The second quarter of 2021 saw the biggest jump over the previous quarter, with an increase of 68 percent. The first quarter of 2021 was the only period to record a decline in consumer spending growth, which was most likely due to strict COVID-19 restrictions still in place at the time.