Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Dubai consumers upbeat on jobs and financials: DED  Join our daily free Newsletter

MENAFN - Khaleej Times - 14/04/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Khaleej Times) The growing confidence is further reflected in the decrease in the percentage of people who believe that dubai economy is under the impact of recession

Shoppers walking past a store at the dubai mall. the overall consumer confidence index increased by four points during the first quarter of 2014 to reach 143 points. — bloomberg


Confidence among dubai consumers is showing an improvement as they are more optimistic about their personal financial situation and brighter job prospects according to the latest findings of the quarterly consumer confidence survey conducted by the department of economic development (ded) in dubai.


The overall consumer confidence index increased by four points during the first quarter of 2014 to reach 143 points building on a steady upswing seen in recent years. while job security and increasing utility bills remain major concerns 92 per cent of the consumers are optimistic on the job situation and 91 per cent on their personal finance over the next 12 months.


The state of economy in dubai was also rated as good or excellent by 91 per cent of the survey respondents with increase in rental/property prices and the tourism boom chiefly driving positive perceptions. consumers who believe that the state of economy will improve in the next 12 months have increased to 95 per cent from 93 per cent recorded in the final quarter of 2013.


The growing confidence is further reflected in the decrease in the percentage of people who believe that dubai economy is under the impact of recession from 24 per cent in q4 2013 to 14 per cent in q1 2014. meanwhile the percentage of consumers who believe that the economy will recover in next 12 months increased from 63 per cent to 77 per cent between the two quarters.


Consumer perception on the current job scenario shows an improvement in q1 2014 as 79 per cent rated job prospects as excellent/good compared to 75 per cent in q4 2013. the percentage of consumers who see better job prospects in the next 12 months remained consistent at 92 per cent with 37 per cent seeing excellent prospects and 55 per cent rating them ‘good’.


Among locals almost 21 per cent rate current job prospects as excellent while 12 per cent of the expatriates have similar sentiments. locals also have a more positive view on the current state of personal finance compared to expatriates. consumers who see current state of personal finance as ‘excellent’ have increased to 81 per cent during q1 2014 from 77 per cent in q4 2013.


Growing confidence in personal finance is also encouraging more consumers to exercise options with their spare cash. around half of the respondents plan to spend their spare cash into holidays or savings and 38 per cent are likely to make these transactions in the next 12 months.


Nearly two-third of the consumers feel it is good time to buy thing they need or want and the percentage of such consumers increased during 77 in q1 2014 from 70 in q4 2013. majority of the consumers (79 per cent) cover essential living expenses but lack of job opportunities and salary levels falling short of expectations are among the concerns expressed.


A ‘consumer confidence index’ provides a single indicator of consumer sentiment towards the current economic situation as well as intentions and expectations for the future and ability to track consumer confidence over a period of time.

Abdulbasit?khaleejtimes.com






 


Khaleej Times




  MENA News Headlines
 Mar 3 2015 - Cruise liner traffic bound for Abu Dhabi to grow 25 percentMENAFN
(MENAFN) An increase of 25 percent in cruise liners calling at Zayed Port will help to lift the number of cruise tourists by 50 percent this season, The National reported.This season above 94 vessels ...

 Mar 3 2015 - UAE non-oil business growth declines in FebruaryMENAFN
(MENAFN) Business activity growth in the UAE non-oil private sector decreased to a five-month low in February but remained strong and above the average for 2014, a corporate survey showed, The ...

 Mar 3 2015 - Kuwait Fund grants USD23.8m to irrigation project in Lao RepublicMENAFN
(MENAFN) Kuwait Fund for Arab Economic Development (KFAED) has signed a loan agreement in the city of Vientiane with the Democratic Republic of Lao, whereby the Kuwait Fund will offer the government ...

 Mar 3 2015 - Bahrain to launch USD22b development projectsMENAFN
(MENAFN) The government of Bahrain will be carrying out giant development projects with a value exceeding USD22 billion, Minister of Information said, KUNA reported.Bahrain is continuing with its ...

 Mar 3 2015 - KFAED finances USD13.47m loan to BelizeMENAFN
(MENAFN) Kuwait Fund for Arab Economic Development (KFAED) provided a USD 13.47 million loan to Belize to help in a road restoration project, a statement by the fund showed, KUNA reported.The ...

 Mar 3 2015 - FDI in Qatar posts USD30.65bMENAFN
(MENAFN) Foreign direct investments (FDI) inflow to Qatar registered USD30.65 billion at the end of 2012, a 1.2 percent growth from a year ago. Though the FDI has targeted various economic activities ...

 Mar 3 2015 - Oman's Raeco to invest USD395.75m for power expansionsMENAFN
(MENAFN) A total of USD395.75 million will be invested by Rural Areas Electricity Company (Raeco) in the next three years to raise the power generation capacity, transmission lines and distribution ...

 Mar 3 2015 - Kuwait Investment to cut US investmentMENAFN
(MENAFN) The Kuwait Investment Office (KIO), the London branch office of sovereign wealth fund Kuwait Investment Authority, is gradually reducing its overweight stance on US assets after keeping that ...

 Mar 3 2015 - Oman's NDC hits sales revenue of USD60.47m in 2014MENAFN
(MENAFN) National Detergent Co. (NDC), one of the leading FMCG companies in the sultanate, has posted total sales revenue of USD60.47 million for full-year 2014, compared with USD56.13 million a year ...

 Mar 3 2015 - 100 per cent rise in FDI expected this yearKhaleej Times
(MENAFN - Khaleej Times) Egypt expects 100 per cent increase in foreign direct investment, or FDI, during the current fiscal year compared to last year, Investment Minister Ashraf Salman said on ...

more...


 






Google

Internatinal Property Show

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help