UAE retail environment ranks first in Middle East and Africa region

 The UAE ranks first in the retail business environment league for the Middle East and Africa (MEA) region this year with its strong wealth and high consumer spending, the Dubai Chamber of Commerce and Industry said in a report.

Based on research by Business Monitor International, the country led with 57.5 points out of a possible 100, to Bahrain's 43.5 that ranked last in the region.

Kuwait ranks a relatively close second with 55.7 points but is unlikely to challenge the UAE for the top spot over the long run given the smaller size of its retail market, according to the analysis.

According to a recent MasterCard survey, 17 per cent of consumers in the UAE are currently spending 71 per cent to 80 per cent of their annual income on household expenses.

Across the Middle East and Levant, 58 per cent of consumers plan to maintain the same level of discretionary and recreation spending in the first half of this year as in the last six months of 2009. In the UAE, 59 per cent of consumers plan to do the same.