Some $406 million was spent at this year's Dubai Shopping Festival (DSF) by overseas buyers, up 37 per cent on last year's figures.
On average, international visitors spent $13.1 million on a daily basis during the DSF period.
Electronic payments powerhouse Visa revealed that the level of transactions at the festival dwarfed the previous total, with department stores benefiting the most from the increase.
Visa noted that the retail chains saw a 57 per cent growth in spending over 2010.
Maysara Ghadban Traboulsi, the firm's head of marketing communications for MENA, said: "Visitors from all over the world come to Dubai to take advantage of the great promotions on offer and these results are testament to the ongoing popularity of the shopping festival."
The UK was the top spending country, with visitors spending a total of $44.5m through the duration of the DSF.
It follows a recent survey by Bayt.com and YouGov which found that workers in the UAE are the highest earners across the MENA region.