Experiences drive spending at DSF
Consumer spending on experiences, rather than fashion and luxury goods saw the biggest growth during the first two weeks of Dubai Shopping Festival (DSF). Visa revealed this week that an increasing number of consumers are using their cards to pay for restaurants, attractions and theme parks and take advantage of the deals.
64%
Almost two-thirds (64 per cent) of UAE consumers would prefer to deal with a single insurance provider when buying insurance products, a survey by Collinson Group revealed this week. The study revealed that the average UAE consumer currently uses at least two providers. When asked why they have a preference for a single provider, 57 per cent cited convenience. A similar percentage said they would expect better prices for staying loyal.
Inflation hurts UK’s outlook
Rising inflation weighed on the financial outlook of British households in January, a survey showed on Wednesday, an early sign that price pressures caused by sterling’s fall after the Brexit vote may be starting to worry consumers. The monthly Markit Household Finance Index fell to 43.9 from 45.2 in December, with price pressures playing a “key role” in dampening morale among households.
Emirates Islamic launches new transport-linked card
Emirates Islamic launched its Cashback Plus Visa signature credit card this week, the first UAE cash back card equipped with a built-in RTA Nol chip to enable easy payments on Dubai’s transport network. Cardholders can use the card to pay for the Dubai Metro, RTA Bus, RTA Water Bus, parking meters and Salik, in addition to Gold Class cabin access on Dubai Metro. The card also rewards customers with up to 10 per cent cash back on household spends.
“A stronger dollar makes UAE property more expensive and less attractive for both locals and non-locals alike.”
Lukman Hajje, Propertyfinder Group chief commercial officer on UAE’s the real estate sector
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