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International Health Insurance News: Expats 'will drive UAE retail sales'

Expatriate health insurance policyholders could be the drivers of strong retail sales in the UAE over the next four years, the latest figures suggest.

According to Emirates 24/7, projections from Business Monitor International show how a 30 per cent increase in retail sales to Dh97 billion could be led by rises in expatriate wealth, higher household consumption and urbanisation of the emirates.

Expatriate healthcare accoutrements, such as over-the-counter pharmaceuticals, along with motors, electrical appliances and food will be the key markers of increased sales, the research shows.

A study by research firm RNCOS also highlighted the growing spending power of expatriate medical insurance customers in the region, the news source reports.

Average spending power by non-Emirati households stands at $19,500, $13,500 and $10,000 for Western, Arab and Asian families repectively, while householders from the UAE have an average spending power of $23,000, compared with the national average of $14,000, research by Colliers International was quoted as revealing.

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