UAE consumer spending can recover towards late 2021 – Euromonitor – ZAWYA

UAE consumer spending can recover towards late 2021 – Euromonitor – ZAWYA

Expat exodus is a major risk to consumer demand growth in the country, says analyst. As people continue to grapple with uncertainty and decline in income levels despite the lifting of restrictions, Euromonitor International said it would take until 2021 before consumer expenditures return to pre-COVID-19 levels.. "Consumer spending can recover towards late 2021, while stores [have reopened] and consumers would also have a certain level of saving which can translate into immediate consumption in the post-COVID period, the overall exodus of expats would be a key factor impacting consumer expenditure in the short term," Yasmeen told Zawya.. Countries around the world started easing restrictions and reopening stores in May to restart their economies.. "As some restrictions are eased, we are likely to see some of these newly found savings spent as people return to shops or turn to the internet to satisfy their spending appetite," said Evans..