{"id":18873,"date":"2022-10-24T05:00:47","date_gmt":"2022-10-24T05:00:47","guid":{"rendered":"https:\/\/www.meretailnews.com\/?p=18873"},"modified":"2022-10-24T08:42:31","modified_gmt":"2022-10-24T08:42:31","slug":"kuwaiti-consumer-spending-regains-momentum","status":"publish","type":"post","link":"https:\/\/www.meretailnews.com\/2022\/10\/24\/kuwaiti-consumer-spending-regains-momentum\/","title":{"rendered":"Kuwaiti consumer spending regains momentum"},"content":{"rendered":"<p><!-- VideographyWP Plugin Message: Automatic video embedding prevented by plugin options. --><br \/>\n<a href=\"https:\/\/www.meretailnews.com\/2022\/10\/17\/mena-retailers-eye-bright-future-as-e-commerce-spending-set-to-increase\/\">Consumer spending<\/a> in <a href=\"https:\/\/www.meretailnews.com\/2022\/10\/13\/first-middle-east-standalone-disney-store-opens-in-kuwait\/\">Kuwait<\/a> has risen by KD2.338 bn, which amounts to a 28.51 per cent rise in the second quarter of this year, according to a report by <em>Al Rai<\/em> newspaper.<\/p>\n<p>In the second quarter, the index grew by KD631.6 million \u2013 amounting to a 6.4 per cent uptick \u2013 compared to the period between January and March, according to the Central Bank of <a href=\"https:\/\/www.meretailnews.com\/2022\/08\/23\/alo-yoga-to-open-in-avenues-mall-kuwait-in-november\/\">Kuwait<\/a>.<\/p>\n<p>According to the data, this increase was namely attributed to the increase in spending through points of sale and a soaring increase in online purchases, which shot up by KD2.4bn.<\/p>\n<p>Consumer spending during the first half of this year soared to about KD20.444bn, compared to KD15.784bn during the corresponding period last year, yielding a growth of 29.5 per cent.<\/p>\n<p>In addition, spending this year ratcheted up by KD5.823bn, a jump of 123.5 per cent, compared to 2020 when the country was subject to severe Covid-19 restrictions.<\/p>\n<p>According to a June report by Fitch Solutions, consumer spending in Kuwait was expected to witness &#8216;solid growth&#8217;, with household spending projected to rise by 6.2 per cent this year.<\/p>\n<p>\u201cThe positive growth in Kuwait&#8217;s real household spending in 2022 will be due to Kuwait&#8217;s improving epidemiological situation,\u201d the report said.<\/p>\n<p>&#8220;The easing of Covid-19 related restrictions is pushing up household spending in 2022 relative to 6.0 per cent in 2021, creating a low base for spending to grow which is why we note the deceleration in 2023.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Consumer spending in Kuwait has risen by KD2.338 billion, which amounts to a 28.51 per cent rise in the second quarter of this year.<\/p>\n","protected":false},"author":40,"featured_media":17544,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[6,1],"tags":[3637,4338,4042,4339],"_links":{"self":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/18873"}],"collection":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/comments?post=18873"}],"version-history":[{"count":3,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/18873\/revisions"}],"predecessor-version":[{"id":18878,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/18873\/revisions\/18878"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/media\/17544"}],"wp:attachment":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/media?parent=18873"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/categories?post=18873"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/tags?post=18873"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}