Domestic consumer spending in the UAE increased 13% Y-o-Y according to a report by Network International, the payments solutions provider. The overall spending on cards grew by 9% over 2014 in UAE. The report, based on credit and debit card transactions in the UAE, found that spending by UAE-issued cards has remained by far the largest in value over the past two years and has remained steady between AED9-10 billion per month. The report indicated that domestic spenders were the highest spending group in the UAE last year with the United States, Saudi Arabia, Qatar and Kuwait also making it to the top spenders list. The report said the appreciation of the dollar - and thus the dirham - had a negative effect on tourist spending from non-pegged currencies, with repercussions especially dominant in Asian and European spending. The steep decline in oil prices along with the devaluation of the Russian rouble saw Russian spending drop to nearly half as much when compared to 2014. Chinese card spends also declined by 13% Y-o-Y in 2015 as compared to 2014. Qataris are leading the way with a 50% increase followed by a 48% rise by Saudis. (Arabian Business)