PRZOOM - /newswire/ -
Noida, Uttar Pradesh, India, 2011/07/26 - UAE retail sales is anticipated to reach around US$ 20.9 Billion by 2013, growing at a CAGR of around 13% during 2011-2013, RNCOS acknowledged.
With the presence of changing market dynamics, rapid economic development, balancing crude oil prices, rising purchasing power, and strong consumer confidence, the retail industry is one of the rapidly growing industries in the Middle East, making the country set for incredible growth in the future. The government’s policy frameworks and active participation of private sector has enabled Middle East one of the world’s most desirable retail environments in terms of investments and revenue generation, says our new research report,“Middle East Retail Sector Forecast to 2013”.
Ongoing research revealed that, the UAE is the largest retail market in the GCC region, with the highest per capita retail spending, credited to its higher tourism and expatriate population spending. The increasing household consumption, growing urbanization, high wealth levels, as well as an improvement in consumer confidence will boost the country’s retail sector. Hence, with the growing disposable income and surging population, the UAE retail sales are expected to grow at a CAGR of nearly 13% during 2011-2013 to reach US$ 20.9 Billion by 2013.
Moreover, retail spending in the UAE is anticipated to perform better compared to other nations across the Middle East due to its status as a strong tourism, transportation, logistics, and trading hub. However, in terms of availability of real estate for retail industry, the UAE will further continue to dominate the regional retail real-estate arena. Dubai, Abu Dhabi, and Sharjah are the key retail markets in the nation with significant presence of modern retail outlets.
Our report “Middle East Retail Sector Forecast to 2013”, also identified other Middle-Eastern countries including the GCC nations, such as Saudi Arabia, Kuwait, and Oman besides Turkey, Egypt, Jordan, Israel. These markets have been sustaining their dominance at the retail landscape and will continue to do so in the coming years. Presence of large expatriate population and majority of the region’s retail investment in these countries have helped to maintain the growth momentum.
Besides, the report analyzes macroeconomic factors critical to the retail sector along with their impact on the sector. The report also identifies key players in each country and includes their detailed business description. Additionally, the report sheds light on the emerging industry trends, which are expected to decide the future of the region’s retail sector.
RNCOS specializes in Industry intelligence and creative solutions for contemporary business segments. Our professionals study and analyze the industry and its various components, with comprehensive study of the changing market behavior. Our accuracy and data precision proves beneficial in terms of pricing and time management that assist the consultants in meeting their objectives in a cost-effective and timely manner.