From 2013 to 2023, credit bureau coverage in the United Arab Emirates grew significantly from 27% to 63.2% of the adult population. Between 2013 and 2017, rapid expansion was observed, highlighted by a notable 40.1% year-on-year increase in 2016. However, after 2017, the growth rate stabilized with slight fluctuations, demonstrating periods of marginal decline and modest recovery. The most recent data for 2023 indicates a 3.95% year-on-year increase, with a 3.35% average annual growth rate over the last five years.
Projections from 2024 to 2028 indicate continued growth, with the coverage expected to reach 74.6% by 2028. While the five-year CAGR for this period is forecasted at 2.6%, the overall increase in coverage remains positive with an anticipated 13.72% growth rate over these five years.
Future trends to watch for include potential regulatory changes impacting credit bureau operations, technological advancements in data collection and analysis, and shifts in consumer credit behavior. Additionally, collaborations between financial institutions and fintech companies could drive further improvements in credit bureau coverage and accuracy.
