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The UAE’s retail sector boomed in 2023, defying global trends, revealed the latest State of the UAE Retail Economy report released by regional retail giant Majid Al Futtaim.
The report, which highlights key economic data, trends and insights into consumers’ behaviour patterns, highlighted that the UAE’s economy witnessed a 3 per cent GDP growth, driven by strong performances in non-oil sectors.
Inflation stayed below the global average (at 6.9 per cent) and considerably lower than the Middle East average (at 13.9 per cent). the report shared.
Ahmed Galal Ismail, CEO at Majid Al Futtaim – Holding, said: “Over the past 12 months, its proven resilience to external pressures, coupled with progressive policy-making and an investor-friendly business environment has seen the UAE further strengthen its position as a lighthouse for the MENA region.
“The nation’s ability to act as a magnet for global talent, investors and entrepreneurs, has translated to…
