Manara Global

If someone told you that retail spending during the holy month of Ramadan across the Middle East and North Africa region was 1.5x greater than the entire GDP of Bahrain, would you believe them? Well, retail sales across the region last year reached USD 66 billion during the holy month, which almost matched Black Friday, the most significant shopping event in the Middle East, for total sales.

If someone told you that spending on Valentine's Day is increasing at more than 20 times GDP, would you believe them? Well, this is how much the romantically inclined UAE consumers are splurging on 14 February. The latest Mastercard Love Index reveals that in the UAE, e-commerce transactions leading up to Valentine’s Day have surged by 117% since 2018. Unsurprisingly sales of flowers, cards, and chocolates in particular all see significant increases in the week leading up to the celebration.

If someone told you that the UAE and Saudi Arabia were the best places in the world for aspiring entrepreneurs, would you believe them? Well, this is the verdict of more than 175,000 entrepreneurs from 51 countries: based on their responses in the latest Global Entrepreneur Monitoring Index survey, the Gulf states have emerged as the top two destinations worldwide for their supportive environment for new business ventures.