UAE Domestic Spending Tops Region

Posted on Feb 8, 2012 in Emirates-Middle East, UAE Economy

UAE consumer spending is the highest in the Middle East.

Consumer spending in the UAE is tops in the region, leaving all others far behind. UAE consumers spent an average of $21,577 per person in 2010, according to a study by the Arab Monetary Fund. Qatar came in second with individual average spending of $14,650, although its GDP per capita was the highest in the region. There was a significant difference, as might be expected, between oil producers and other Arab nations, but no one came close to the UAE’s number. Saudi Arabia, which has the second largest aggregate consumption in the region of around $157.4 billion, but a population three times as high as the UAE, had an annual per capita consumption figure of $5,808. The lowest rate of consumer spending was in Comoros ($773 per year) and Djibouti ($938 per year). The figures also showed that the UAE economy was second only to Saudi Arabia and accounted for nearly 14.6 per cent of the total Arab GDP of $2.027 trillion