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Dubai's Network International says spending in UAE above pre-pandemic levels

Dubai's Network International says spending in UAE above pre-pandemic levels

A general view of Dubai Expo 2020, in Dubai, United Arab Emirates, Jan 16, 2022. (File photo: Reuters/Christopher Pike)

DUBAI: Dubai-based payments processor Network International said on Thursday (Jan 20) spending in the United Arab Emirates (UAE) was now above pre-pandemic levels, supported by the world fair Expo 2020 Dubai.

International and domestic spending volumes increased 104 per cent and 17 per cent respectively year-on-year in December, Network International said in a statement. It said the figures were 12 per cent and 17 per cent respectively above pre-pandemic levels.

International spending accounted for 42 per cent of the total spend at Expo 2020 in December, up from 34 per cent when the event began in October, it said.

Before the pandemic, consultancy EY forecast the Expo would over the course of its six months contribute 1.5 per cent to the UAE's gross domestic product.

Source: Reuters/ng

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