Domestic consumer spending by UAE residents and tourists visiting the UAE has been an important segment of the UAE economy. According to reports by Network International (a payment solutions provider), the overall domestic card (credit and debit) spending in the UAE increased by 13% in the calendar year 2015 in comparison to 2014 and increased by 12% in the first quarter of 2016 when compared with the first quarter of 2015. Keeping in mind the importance of domestic consumer spending, the UAE has looked to recalibrate the rights of consumers on the one hand and that of vendors on the other so as to ensure that consumer protection rights are recognised. Click here to read full article.
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