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
 Jun 26 2016 - Saudi Arabia chooses financial planners for USD10bn bondMENAFN
(MENAFN) Saudi Arabia has picked Citigroup, HSBC and JP Morgan to arrange its new USD10 billion bond, local financial sources reported.Banks had pitched for roles on the transaction earlier this ...

 Jun 26 2016 - Dubai's new industrial vision to generate USD44bMENAFN
(MENAFN) Dubai has announced its new Industrial Strategy, which will oversee 75 initiatives to add USD44 billion to the emirate's economy.The plan has been approved by Vice President and Prime ...

 Jun 26 2016 - Turkey Anel grasps USD66m in DohaMENAFN
(MENAFN) Turkish-based Anel Mepa has won an USD66.5 million contract for the Red Line of Doha Metro scheme, a report said.In detail, the agreement includes building automation and management and ...

 Jun 26 2016 - Oman engineering college kick off solar projectMENAFN
(MENAFN) The Sultan Qaboos University (SQU) College of Engineering said it's currently working on a new solar project.In detail, the USD559 thousand project is expected to generate electricity with ...

 Jun 26 2016 - Damac awarded USD817m deals in H1MENAFN
(MENAFN) Damac Properties, a UAE firm, said it had awarded 25 construction and consultancy contracts worth USD817 million during the first half of this year.In detail, the leading luxury real estate ...

 Jun 26 2016 - Saudi, UAE say no big financial effect from BrexitMENAFN
(MENAFN) Saudi Arabia and UAE said that they did not expect remarkable effect to their financial institutions after Britain's vote to leave the European Union."Kingdom had already made some ...

 Jun 26 2016 - UAE Embassy in distributes Ramadan aid to Muslims in VietnamEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) HANOI, 26th June, 2016 (WAM) -- The UAE Embassy in Vietnam has overseen the distribution of food aid to 150 underprivileged Muslim families in the Nghia ...

 Jun 26 2016 - Qatar Petroleum announces integration of TasweeqEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) DOHA, 26th June, 2016 (WAM) -- Qatar Petroleum, QP, the state owned petroleum company in Qatar, has announced the integration of Qatar International ...

 Jun 26 2016 - UAE- Ajman Chamber organises 4th diplomatic forum and discusses economic cooperationEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) AJMAN, 26th June, 2016 (WAM) -- The Ajman Chamber of Commerce and Industry, ACCI, organised the 4th edition of its annual Ramadan Diplomatic Forum aimed at ...

 Jun 26 2016 - UAE Space Agency and Lockheed Martin partner to train next generation of UAE national space talentEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ABU DHABI, 26th June, 2016 (WAM) -- The UAE Space Agency has signed a Memorandum of Understanding, MoU, with Global technology leader, Lockheed Martin, to ...

more...


 





Google

 
 

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