Consumer confidence is returning in the UAE, despite the continued presence of the Covid-19 pandemic, after it was revealed spending in the country increased for the third straight month.
According to figures released by the Federal Competitiveness and Statistics Authority (FCSA), consumer spending jumped 63 percent in August compared to March.
The statistics showed that hoteliers were among the top beneficiaries, as spending rose 29 percent in August compared to March. The number of hotel establishments (hotels and hotel apartments) reached 1,136 by the end of 2019.
Spending in restaurants improved by 75 percent in August, while in the apparel sector, expenditure increased by 78 percent in the reference period as shopping malls and outlets started to reopen nationwide.
However, expenditure on food supplies and medications, both online and conventional purchases, slowed at 32 percent compared to March.
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