Arabs spending soars 30% in Eid holiday: PAYFORT

CAIRO – 21 June 2017: Consumer spending in the Arab region during the Eid holiday is predicted to jump 30 percent, online payment firm PAYFORT said in a blog published Wednesday night.

Eid al-Fitr usually witnesses a high wave of shopping as people head to malls, restaurants and online platforms as well to celebrate the holiday, online payment gateway PAYFORT said in its post.

“Across the GCC and other Arab countries many retail outlets save their best sales for the two-day holiday and are expecting to extend their shopping hours to account for the increased traffic in store,” PAYFORT said.

PAYFORT expects the biggest hike in spending to be in the clothing and travel sectors, followed by food and beverages.