Boston, MA -- (SBWIRE) -- 02/12/2016 -- We retain optimistic growth forecasts for the UAE's retail market. The next four years leading to Dubai Expo 2020 will give a boost to the economic diversificatio n , as gargantuan infrastructural and private projects pick up steam. Consumer confidence is likely to remain intact and inbound tourism is set to persist, both of which will continue rewarding retailers with unparalleled opportunities until 2019.

The UAE is highly reliant on oil revenue; as a result, the fall in oil prices during the end of 2014 and beginning of 2015 resulted in a damage to the UAE economy. After a shock, the real GDP increased by 3.9% in 2014, a marked improvement from growth of just 1.6% in 2010. We expect to see real GDP growth reach 4.0% in 2015 and this will bode well for growth in the UAE's retail market. Household spending is expected to increase as GDP increases due to higher levels of income. The increase in household spending is driven by the increase in total households as well as the increase in households in the high-income bracket. However, the increase in household spending is offset by the fact that almost 40% of it is consistently taken up on expenditure on housing and utilities due to the extremely high rates of rent in the UAE. Outside of spending on housing and utilities, spending on food and drink represents the largest area of spending, whilst spending on clothing and footwear represents the fastest growing sub-sector during our forecast period.

Get More Details on this Report and a Full Table of Contents at United Arab Emirates Retail Report Q1 2016

The United Arab Emirates Retail Report has been researched at source and features BMI Research's independent assessment and forecasts for the retail sector. The report examines key drivers of retail sales growth and future prospects, including consumer spending and private sector investment.

BMI's United Arab Emirates Retail Report also examines the level of development and potential for growth of the retail sector, the commercial initiatives of major players, changing consumer demographics that influence demand and the regulatory environment. Key sub-sectors include mass grocery retail, autos, over-the-counter pharmaceuticals, computers and consumer electronics.

Key Benefits

-Benchmark BMI's independent retail industry forecasts for United Arab Emirates to test other views - a key input for successful budgeting and strategic business planning in the Emirati retail market.
-Target business opportunities and risks in United Arab Emirates through our reviews of latest industry trends, regulatory changes and major deals, projects and investments.

Coverage

BMI Industry View

Summary of BMI?s key forecasts and industry analysis, plus a discussion of major industry developments and a snapshot of key short-term demand-driving macroeconomic movements.

Industry SWOT Analysis

Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the retail sector and within the broader political, economic and business environment.

BMI Industry Forecasts

There are four separate 5-year forecast modules in the retail reports. These are:

-Headline Retail Forecast: Total household spending (local currency and USDbn, % growth, % GDP, per capita, per household), spending by retail sector (food & non-alcoholic drink, alcoholic drink, clothing & footwear, housing & utilities, furnishings & home, health, transport, recreation, education, restaurants & hotels, personal care & insurance (local currency and USDbn, % growth, % GDP, % of total spending)
-Retail Sector Forecast: Breakdown of Food, Non Alcoholic Drink, Alcohol, Tobacco, Clothing, Footwear, Household Goods, Furnishings, Appliances, Glass and Tablewear, Household Textiles, Consumer Electronics, Garden Toys and Pets, Home and Garden tools, Personal Care, Personal Effects Spending (USDbn, % Growth)
-Household Income and Numbers Forecast: Number of Households (?000, % growth); gross income per household and per capita; net income per household and per capita; tax and social contributions per capita; breakdown of household incomes ? USD5000+, USD10,000+ USD50000+ (?000, % of total); labour force, employment and unemployment (?000, % change)
-Demographic Forecast: Total population; Babies 0-12 months; Young Children 0-4yrs; Children 5-9yrs; Young Teens and Older Children 10-14yrs; Older Teens 15-19yrs; Adults 21yrs +; Young Adults 21-29yrs; Middle Aged 40-64yrs (?000, % growth, male, female); Urban Population (?000, % population); Rural Population (?000, % population).

BMI?s Retail Risk Reward Index

About Fast Market Research
Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.

Browse all Retailing research reports at Fast Market Research

You may also be interested in these related reports:

-Apparel Retail in United Arab Emirates
-Convenience Stores (Including Independents) and Gas Stations in the United Arab Emirates: Market Snapshot to 2019
-Food and Drinks Specialists in the United Arab Emirates: Market Snapshot to 2019
-Value, Variety Stores and General Merchandise Retailers in the United Arab Emirates: Market Snapshot to 2019
-Music, Video, Book, Stationery and Entertainment Software Specialists in the United Arab Emirates: Market Snapshot to 2019