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
 Dec 19 2014 - Int'l community responsible for protecting Palestinians: KuwaitArab Times
(MENAFN - Arab Times) GENEVA Dec 18 (KUNA): Kuwait's permanent delegate to the UN agencies in Geneva Ambassador Jamal Al-Ghunaim said Wednesday the international community needs to shoulder its legal ...

 Dec 19 2014 - Kuwait- Early diagnosis key to defeat breast cancerArab Times
(MENAFN - Arab Times) KUWAIT CITY Dec 18 (KUNA): Sheikha Hessa Saad Al- Abdullah Al-Sabah on Wednesday highlighted the importance of early detection in curbing the growth of various forms of cancer. ...

 Dec 19 2014 - Saudi- Host Maskan beats Nesma Inaya edges out Gilas 90-88Arab News
(MENAFN - Arab News) Host team Maskan Arabia Co. brought down Nesma 105-92 while Inaya Medical College edged out S. Gilas 90-88 in the seventh week action in the 2nd Maskan Arabia Invitational ...

 Dec 19 2014 - Saudi- Faisaliah Team A and Courtyard Marriott triumph in Inter-Hotels Cricket eventArab News
(MENAFN - Arab News) Al Faisaliah Team A won its match against Riyadh Marriott while Al Faisaliah-Al Khozama combined Team B went down in defeat to Courtyard Marriott during Friday's matches in the ...

 Dec 19 2014 - Mathy powers to victory in Riyadh Wheelers 60km road raceArab News
(MENAFN - Arab News) A new course used for the first time brought general approval from the 60 riders who signed on for the Riyadh Wheelers 60km road race and with no wind to bother the competitors ...

 Dec 19 2014 - SCTC ABTC-Taif ladies clash in finals Saudia Catering JRTC in ALBAIK Tennis semifinalsArab News
(MENAFN - Arab News) SCTC and ABTC-Taif will dispute the Ladies Division HMX category finals after a grueling double round-robin while in the Men's Division LMX category four teams advanced to the ...

 Dec 19 2014 - Saudi- Hyundai Castrol takes third in 4th MYN 2014 JBL-Lifestylez tourneyArab News
(MENAFN - Arab News) Hyundai Castrol of Dennis Elmenzo beat Fuddruckers 72-53 to claim the third place in the 4th MYN Division at the Ahmed Mohammed Abdul Wahab Naghi Sports Complex in Ash Shati ...

 Dec 19 2014 - Saudi- Natco Desert Warriors win in JCA Money Gram CKB-T20Arab News
(MENAFN - Arab News) The Money Gram-sponsored Cricket Ke Badshah T20 Tournament for the year 2015 under the auspices of Saudi Cricket Center (SCC) took off to a rousing start with 28 teams entered in ...

 Dec 19 2014 - UN seeks 8.4bn to help Syrian victimsArab News
(MENAFN - Arab News) BERLIN: The UN appealed Thursday for $8.4 billion to provide emergency aid and longer-term help to nearly 18 million people in Syria and across the region hit by the drawn-out ...

 Dec 19 2014 - Saudi- Nigeria sentences 54 soldiers to deathArab News
(MENAFN - Arab News) ABUJA Nigeria: Nigeria has sentenced 54 soldiers to death for mutiny assault cowardice and refusing to fight extremists.The court-martial charges all were connected to the ...

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