UAE Retail Market to Grow at a CAGR of 5.88% through 2027
The increasing presence of online retail channels as well as growing tourism industry to fuel the UAE retail market through 2027F. According to TechSci Research report, “ UAE Retail Market - By Region, Competition Forecast & Opportunities, 2017-2027 ” , the UAE retail market stood at USD27.46 billion in 2021 and is anticipated to grow at a CAGR of 5.88% in the forecast period, 2023-2027, to reach USD37.70 billion by 2027. The market's growth is attributed to the heavy support from the tourism industry, an increase in the presence of supermarkets/hypermarkets, and the adoption of advanced technologies by the market players. Also, the growing popularity of private labels among consumers and the increased consumer spending on improving their lifestyle and living standards are further expected to contribute to the UAE retail market growth over the forecast period. However, the saturated and highly competitive market and increasing demand for the high-end retail industry may restr