Explore the latest trends, demand drivers and growth opportunitie...
Explore the latest trends, demand drivers and growth opportunities in the Middle East, with in-depth market and data analysis from our in-country field researchers and regional experts.
In 2023, Israel experienced a notable surge in debit card usage as more individuals opted to pay with credit cards instead of cash. The number of debit cards in circulation increased remarkably. Furthermore, the volume of transactions using debit…
The credit cards category in the United Arab Emirates is set to experience strong growth by all measures in 2023, fuelled by a combination of favourable economic conditions, evolving consumer preferences, and the adoption of new technologies. The…
Credit cards are not as popular as debit cards in the Kingdom of Saudi Arabia, however, the category still shows a fair performance. One main issue which credit cards face in the KSA is a question mark around their compliance with Sharia Law.…
In early 2023, the Israeli government is set to mandate Discount Bank to divest its credit card business, Visa Cal, aiming to enhance competition within the credit card market. This move will introduce a new player to the credit market, fostering a…
Despite rising inflation, increasing mortgage rates and interest rates, consumer lending in the United Arab Emirates remains buoyant in 2023. The local economy’s recovery and expansion are influencing the momentum of consumer lending, but…
Consumer lending in Saudi Arabia is on the upturn, as the Kingdom has generally recovered from the aftereffects of the COVID-19 pandemic. Moreso, due to consumer behaviour and expenditures unwaveringly affected by the pandemic, along with 15% VAT,…
In 2023, the Bank of Israel implemented a significant benchmark interest rate hike. This resulted in a sharp increase in mortgage payments, impacting individuals who hold mortgages and loans. The aggressive interest rate hikes have escalated mortgage…
Banks in the United Arab Emirates continue to offer attractive card lending offers in 2023. With many credit cards now having appealing credit limits depending on the salary range and credit score of consumers, many banks are offering to convert…
Other personal lending continues to be an area of interest in Saudi Arabia, as this category primarily constitutes personal loans taken for medical purposes and travelling. This has been particularly prominent since the end of pandemic restrictions…
In 2023, the growth of consumer lending in Israel experienced a notable slowdown, continuing a trend observed over recent years. The outstanding balance in card lending saw a decline, significantly influenced by rising inflation and the increasing…