However, just because there is inflation doesn't mean that people aren't spending, but they are spending differently. The that sales are expected to rise from US$ 317 bn in 2021 to between US$ 336 bn and US$ 347.5 bn in 2022.
Why and how high is inflation in the region?
The main reason for high inflation rates in the GCC is a rebound in prices in the sectors that were hit the hardest during the Covid-19 crisis. The global energy prices are also exerting significant pressure on the region.
