MasterCard: More UAE jobs coming up in 2023, customers spend more on shopping, dining

MasterCard: More UAE jobs coming up in 2023, customers spend more on shopping, dining

Dubai: As the world counts down to the beginning of 2023, UAE's economic outlook for the New Year looks positive, according to a study by Mastercard Economics Institute. More jobs are on the horizon in the UAE and Saudi Arabia, the report released in December stated. The report also analysed the spending patterns of customers in the UAE. UAE consumers are shopping more and dining more in frequency, but are spending less per visit. The study found that globally, grocery shoppers made 31 per cent more trips to the store this year compared to 2019, but spent 9 per cent less per visit. Affluent shoppers, however, increased their spend on discretionary or non-essential purchases, at a rate double that of lower-income households. In the UAE, restaurant spending frequency in the country was nearly 30 per cent higher in September 2022 than in September 2019, but the average spent amount was nearly 20 per cent lower. The report found that retailers would benefit the most by having 'omnichannel' presence. For food businesses, being present on multiple channels made over 30 per cent of additional sales, that they wouldn't have done with just a physical restaurant. Clothing stores showed the same trend,