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
 Nov 26 2014 - Kuwait's Mabanee to invest USD910m on projectMENAFN
(MENAFN) Mabanee, the Kuwaiti real estate firm, announced it is planning to spend USD910 million on building the fourth phase of its development of The Avenues mall, Arabian Business reported.The ...

 Nov 26 2014 - Oman's Sezad, OOC sign MoU on Duqm refineryMENAFN
(MENAFN) The Special Economic Zone Authority of Duqm (Sezad) announced it has signed a Memorandum of Understanding with the Oman Oil Company (OOC) regarding construction work on the planned refinery ...

 Nov 26 2014 - Emirates Airlines adds new flight to Maldives routeMENAFN
(MENAFN) Dubai's Emirates Airline announced it has added a third daily service to Mal", the capital of the Maldives, which will begin servicing passengers on December 1, Arabian Business reported.The ...

 Nov 26 2014 - Abu Dhabi Int'l passenger traffic up 17 percent in OctoberMENAFN
(MENAFN) Abu Dhabi International Airport announced that it registered an increase by 17 percent in its passenger in October, Arabian Business reported.The airport said that it has registered a total ...

 Nov 26 2014 - Oman's Rolls-Royce sales grow 46 percent in Jan.-Oct.MENAFN
(MENAFN) Rolls-Royce Motors announced it has registered an increase in its sales in Oman by 46 percent during the January-October period, compared to the same period last year, Times of Oman ...

 Nov 26 2014 - GCC petrochemical industry to decline on falling oil pricesMENAFN
(MENAFN) Gulf countries' petrochemical industry is expected to begin facing challenges due to the falling of oil prices, US shale gas and China's polyethylene, Khaleej Times reported.These factors ...

 Nov 26 2014 - Syrian economy decline 40 percentMENAFN
(MENAFN) According to the Undersecretary General for Humanitarian Affairs and Emergency Relief Coordinator, Syria's economy has declined by almost 40 percent since 2011, due to the effects of the ...

 Nov 26 2014 - Qatar to invest USD43.62b on railways infrastructureMENAFN
Qatar's Ministry of Transportation announced it is currently working on the development of advanced transport infrastructure in the country, with several projects currently in the planning stages or ...

 Nov 26 2014 - Dubai's Kcal to expand to EgyptMENAFN
(MENAFN) Kcal, the Dubai-based restaurant chain announced it is planning to expand its business in the MENA region with its first store slated to open in Egypt by December this year, followed by 14 ...

 Nov 26 2014 - MENA's value of M&A deals hit USD9.3b in Q3MENAFN
(MENAFN) The Middle East and North Africa's (MENA) merger and acquisition activity increased by 17 percent during the July-September period of this year, with 109 deals announced compared with 93 ...

more...


 






Google

Click to Apply

 
 

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