The UAE retail market is expected to be valued at $53.7 billion in 2016, up 7 per cent over 2015, a lower rate compared to 8 per cent projected for 2015, according to data from consultancy Euromonitor International.
The UAE has seen softer retail sales last year due to a strong dollar against certain currencies, leading to reduced spending by European and Russian tourists, as well as lower oil prices, which have dampened consumer confidence in the country, according to industry analysts.
