Retail - Sonntag, Januar 4, 2009 10:56 - 0 Comments

Crisis to affect consumer spending

Dubai: The global economic downturn has already impacted consumer spending in the UAE and will continue to do so in 2009, a market watcher has said.

A downturn is particularly evident in the luxury items sector, where large purchases of big-ticket items like cars, yachts and properties have dipped in recent months. A decline in tourist traffic is also threatening retail sales and is seen to hinder growth in the sector this year. Continue…