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The decline of oil prices and a strengthened US $ against many of the world currencies is affecting the overall spending of residents and tourists.
However, the growth expected in theUAE’s non-oil economy over the next 5 years is an unmistakable opportunity for international retailers.
As per the IMF, non-oil growth in the UAE is projected to slow to 3.4% in 2015, before increasing to 4.6% by 2020, supported by the implementation of mega-projects and private investment in the run-up to Expo 2020.
Source : Knight Frank
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