U.S.-Iran conflict nearly halves Dubai mall visits, luxury sales plunge
Business
The U.S.-Iran conflict is hitting the UAE's luxury shopping scene hard.
Malls in Dubai have seen a big drop in visitors, with places like Mall of the Emirates reporting luxury sales down by up to 50%.
Even Dubai Mall visits have nearly halved compared to last year, showing just how much these stores rely on international tourists.
Geopolitical tensions curb UAE luxury spending
Luxury goods in the UAE are bought by tourists, so when global tensions rise and travelers stay away, high-end shops feel it fast.
With fewer visitors and shaky oil prices making everyone a bit more cautious about spending, both tourists and locals are holding back on splurges.
It's a clear reminder that political events far away can quickly change what's happening at your favorite shopping spots.