Residents of the Gulf countries began to save on purchases due to the situation with Iran, the "Financial Times" reported, citing data from the marketing chains.
The major trading companies in the Middle East are already seeing a deterioration in financial results. For example, the profit of the retail hypermarket chain Lulu Retail from the beginning of the year until September inclusive decreased by 28%. In addition, a number of high-end boutique owners told the FT that many shopping malls in Dubai are now experiencing "a decline in the flow of high-net-worth customers".