UAE Consumer Spending Up 65 Pct In June
Umer Jamshaid Published August 04, 2020 | 10:30 PM
ABU DHABI, (UrduPoint / Pakistan Point News / WAM - 04th Aug, 2020) In a sign of that bodes well for an eventual market recovery after the coronavirus, consumer spending in the UAE increased by 65 percent in June 2020 as compared to March, according to statistics released by the Federal Competitiveness and Statistics Authority (FCSA).
Hoteliers were among the Primary beneficiaries, with spending having jumped 15 percent in June comparatively with April. The number of hotel establishments (hotels & hotel apartments) upped to 1,136 by the end of 2019.
According to the statistics, spending in restaurants improved by 47 percent in June after retreating by 72 percent in April. In the apparel sector, expenditure rose by 52 in the reference period as shopping malls and outlets started to reopen nationwide. The same applies to food supplies and medications, both online and conventional purchases.
The figures show significant improvement in domestic economy which recovered by 80 percent, with the next few weeks projected to see spending rates back to normal.
Recent Stories
Tennis: ATP Barcelona Open results - 1st update
Swiatek's perfect 10 in Stuttgart as Vondrousova stuns Sabalenka
Arandu's roads closed due to flooding
Oil tanker catches fire in Islamabad’s Blue Area
Pakistan committed to ensure safety of foreign nationals: FO
Tennis: WTA Stuttgart results - 1st update
Four passengers injured as train hit an empty vehicle
Over- speeding bus crushed to death two bike riders
Turkey's Freedom Flotilla ready to set sail for Gaza
French teen dies from heart failure after knife attack near school
Iranians appear unfazed by Isfahan blasts
UAF celebrates Int'l Chinese Language Day
More Stories From Middle East
-
UAE announces ‘Zero Bureaucracy Program’ to reduce bureaucracy
3 months ago -
COP28 President-Designate welcomes Transitional Committee agreement to operationalise Loss and Damag ..
6 months ago -
Global Media Congress 2023 to feature Co-Production Majlis as a new networking platform
6 months ago -
Young female athletes shine at Abu Dhabi World Youth Jiu-Jitsu Championship
6 months ago -
King of Jordan receives Abdullah bin Zayed and ministers participating in Arab coordination meeting
6 months ago -
Abdullah bin Zayed participates in coordination meeting of Arab foreign ministers, joint meeting wit ..
6 months ago
-
3rd annual conference of Emirates Society of Clinical Microbiology kicks off in Dubai
6 months ago -
SIBF 2023 hosts Nobel laureate to discuss emergence of ‘Afrofuturism’ in global discourse
6 months ago -
ALC announces winners of Kanz Al Jeel Award 2023
6 months ago -
SIBF turns spotlight on remarkable contributions of women
6 months ago -
Global assets in spot bitcoin ETFs hit $4.16 billion
6 months ago -
Rescuers struggle to find Nepal quake survivors as deaths reach 157
6 months ago