Emirates Business reports that consumer spending has not dropped in the UAE and in the rest of the Middle East, according to the latest numbers by MasterCard Worldwide.

"People may say that because the rate of growth has changed, spending has gone down, but no… spending has not gone down. Rather, only the rate of growth has slowed down. They are two different things," said Raghu Malhotra, Area Business Head Middle East (Gulf countries), MasterCard Worldwide.

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