Dubai retail sales forecast to exceed $43 billion by 2021
Source: Dubai Chamber
The value of retail sales in Dubai is expected to reach $43.8 billion by 2021, while the emirate’s retail market is projected to record average growth of 5.6% over the 2018-2021 period, new analysis conducted by the Dubai Chamber of Commerce and Industry has revealed.
The analysis, based on recent data from Euromonitor International, Core Savills Research, Mastercard and New World Wealth, showed that Dubai has firmly positioned itself as one of the world’s top shopping destinations, while the interplay between the emirate’s retail, real estate, travel and tourism markets continues to strengthen Dubai’s value proposition for consumers and investors.
Key factors expected to fuel retail sector growth include the rising number of tourists and high occupancy levels at major retail centres and shopping malls, in addition to high per capital income, strong international brand presence and a consumer base that likes to spend on retail, food and beverage and leisure activities.