Ambareen Musa, Founder & CEO of Souqalmal.com, discusses the spending habits of UAE residents during the Holy Month of Ramadan:
According to Visa’s 2015 Ramadan and Eid Spend Report, Visa cardholders in the MENA region – including all debit, credit and prepaid cardholders – spent a total of $9.3 billion on their Visa cards during Ramadan in 2015. Out of this, approximately $2.9bn worth of card spend was recorded in the UAE alone – close to a third of the total spend logged in the MENA region.
These findings make it clear that Ramadan is a month of high consumer spending, but exactly how much of this is beyond the usual and what exactly are UAE residents splurging on?
To better understand the money habits and spending patterns of residents in the country, Souqalmal.com conducted a survey during Ramadan last year. And here are the results…
For full article go to AMEinfo.
