UAE rises to fourth place in retail development index

Dubai has an established  retail scene, while  Abu Dhabi is the rising star of the UAE

The UAE has broken into the fourth place, rising 16 places, in the 2009 Global Retail Development Index (GRDI), according to global management consulting firm A.T. Kearney's eighth annual GRDI, a study of retail investment attractiveness among 30 emerging markets.

While the UAE's population of five million is relatively small compared to the three countries above it in the GRDI, it has the highest per capita consumer spending of any country in the index.

Yet while Dubai has a well established retail scene, Abu Dhabi is the rising star of the UAE according to the study. It has remained well insulated from the global economic crisis because of its oil reserves and sovereign wealth fund. Several new museums and a Formula One race are planned and will help it attract tourists.