UAE residents cutting back on eating out as spending habits shift



Residents are spending less on luxury items and more on life’s necessities, new research shows.

Overall spending last year was about the same as the year before, despite low oil prices and a strong US dollar.

But people spent less on eating out, socialising and concerts and more on food at home, rent and household items.

While only 18 per cent of respondents said they spent less than planned last year, two-thirds spent more on food and drink for home and 69 per cent spent more on household items.

And 40 per cent of respondents said they saved less last year.

The new spending patterns, are broadly similar across all age groups although those over 40 are most likely to cut back on socialising, and 51 per cent cutting back on eating and drinking out.

While spending patterns are changing at home the UAE still ranks as the number one destination for luxury shopping in the region.

Forty-three per cent of Middle East respondents chose Dubai as their favourite place to shop for luxury items, followed by Abu Dhabi.

“The Saudi Arabian travellers are still spending as much as they ever have here, and that is at very high levels” said David Macadam, chief executive of the Middle East Centre for Shopping Centres.

“As a luxury retail destination Dubai is hard to beat because it has the best looking shops, the biggest brands, the best known names and the most food and beverage outlets. As a regional destination nowhere compares to Dubai so it will retain footfall and spending.”

ascott@thenational.ae

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Abdullah Humaid Al Muhairi, Abdullah Al Marri, Omar Al Marzooqi, Salem Al Suwaidi, and Ali Al Karbi (four to be selected).
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Men: Narmandakh Bayanmunkh (66kg), Nugzari Tatalashvili (81kg), Aram Grigorian (90kg), Dzhafar Kostoev (100kg), Magomedomar Magomedomarov (+100kg); women's Khorloodoi Bishrelt (52kg).

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July 5, 1994: Jeff Bezos founds Cadabra Inc, which would later be renamed to Amazon.com, because his lawyer misheard the name as 'cadaver'. In its earliest days, the bookstore operated out of a rented garage in Bellevue, Washington

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1998: Amazon acquires IMDb, its first major acquisition. It also starts selling CDs and DVDs

2000: Amazon Marketplace opens, allowing people to sell items on the website

2002: Amazon forms what would become Amazon Web Services, opening the Amazon.com platform to all developers. The cloud unit would follow in 2006

2003: Amazon turns in an annual profit of $75 million, the first time it ended a year in the black

2005: Amazon Prime is introduced, its first-ever subscription service that offered US customers free two-day shipping for $79 a year

2006: Amazon Unbox is unveiled, the company's video service that would later morph into Amazon Instant Video and, ultimately, Amazon Video

2007: Amazon's first hardware product, the Kindle e-reader, is introduced; the Fire TV and Fire Phone would come in 2014. Grocery service Amazon Fresh is also started

2009: Amazon introduces Amazon Basics, its in-house label for a variety of products

2010: The foundations for Amazon Studios were laid. Its first original streaming content debuted in 2013

2011: The Amazon Appstore for Google's Android is launched. It is still unavailable on Apple's iOS

2014: The Amazon Echo is launched, a speaker that acts as a personal digital assistant powered by Alexa

2017: Amazon acquires Whole Foods for $13.7 billion, its biggest acquisition

2018: Amazon's market cap briefly crosses the $1 trillion mark, making it, at the time, only the third company to achieve that milestone

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WITHIN SAND

Director: Moe Alatawi

Starring: Ra’ed Alshammari, Adwa Fahd, Muhand Alsaleh

Rating: 3/5