The results of the Consumer Confidence Study Index for the third quarter of this year, issued by Dubai Economy, showed that 84% of Emirati citizens expressed higher optimism about the opportunities to find a job at the present time, noting that 80% of consumers feel optimistic about the improvement of the employment situation during the 12 years Next month.
Results
In detail, Dubai Economy revealed the results of the consumer confidence survey index for the third quarter of the year, recording 137 points.
Regarding consumer perceptions about job opportunities, 84% of Emirati citizens are more optimistic about job opportunities at the present time. Depending on the direction of the results, the perceptions of the expatriate consumers about this matter remained the same for this quarter, as 13% of them said they look "excellent", and 56% described them as "good". As for the next 12 months, during this quarter, almost 52% of citizens considered opportunities to get a "excellent" job, while only 32% of expats expressed the same sentiments, and 43% described them as "good".
In general, the chances of getting a job are described as "excellent" by 38%, and "good" by 42%, which means that they correspond to the percentages of perceptions recorded in the previous quarter.
Mohamed Ali Rashid Lootah, Executive Director of Commercial Control and Consumer Protection in the Dubai Economy, said: “In the third quarter of this year, the index continues to provide positive signals, especially when it comes to confidence in consumers, and we have detected a state of optimism that largely prevails among citizens and expats, We believe for sure that there are more reasons for them to assess the current status quo and in the later stages, including, but not limited to, what our rational government is showing in its keenness led by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister Ha How much Dubai, in order to establish reassurance and happiness among all segments of society in Dubai, including recent decisions and initiatives that focus primarily on stimulating the economy ».
Lootah added, “Our issuance of this report regularly throughout the year reflects Dubai’s eagerness to establish trust, spread transparency, help all parties in various sectors to take clear decisions based on honest information, and work to reach effective solutions to meet any expected challenges, in order to ensure The sustainable development of our national economy. Among the most important positive data revealed by the study is that 80% of consumers feel optimistic about the improvement of the employment situation during the next 12 months.
Consumer perceptions
The same period witnessed a slight decrease in consumer perceptions about the economic situation, and 77% of respondents feel positive about personal financial conditions at the present time, and the percentage rises to 78% for the next 12 months. 56% of consumers plan to delay the update of technology to ensure they do not deviate from the budgets they set.
On the situation of personal financial conditions, 75% of foreign consumers showed optimism about the situation of personal financial conditions, with 14% of them saying that they are "excellent", and 63% described them as "good". The trend of the results showed that the percentage of consumers who have classified personal financial conditions at the present time as “excellent / good” decreased during the third quarter by about 10 points, compared to the previous quarter.
Describing personal material conditions for the next 12 months, approximately 84% of Emirati citizens expressed optimism about it, and 37% said it was "excellent", and 47% described it as "good." As for the expectations of the arrivals, 30% thought it looked excellent, while 47% said it was likely to be "good". The average score for "Excellent" was 32%, and the "Good" rating increased to 46%.
Buy things
Regarding their perceptions of buying the things they need and want to buy, 79% of Emirati consumers said that it is "excellent / good" time to buy the things they need and want to buy, while the percentage of expats who support this opinion is 69%.
In general, 15% said that the time is "excellent", while 57% described it as "good" with a total of 72%, where the trend of results indicates that the percentage of consumers who feel that this is the time to buy has decreased slightly during this quarter, after That the previous quarter scored 78%.
As for the aspect of their perceptions about the current economic situation in Dubai, the Emiratis seemed more optimistic, when 32% described it as "excellent", and 12% of the expatriates agreed with this. 53% said it was good, and 47% of expats joined this assessment. The overall result shows the optimism of 67% of the citizens and expatriates. The perceptions recorded a slight decrease by only one point for the second quarter of the year.
They attributed their optimism to many reasons, foremost among which is the recovery of the tourism and trade sectors and their prosperity, and the increase in spending on advertising and traffic congestion, in addition to the growth of corporate profits and the availability of jobs, as well as other factors.
On the other hand, others felt that the lack of work opportunities and the lack of an increase in the salary level were among the main reasons for the negative perception. As for perceptions related to the economic situation during the next 12 months, 77% of consumers considered that the economic situation would be "excellent / good", that is, a slight decrease of two points from the second quarter, which recorded 79%.
As for the main sources of anxiety over the next six months, "job security" scored the highest in regards to being the biggest concern during this quarter, followed by "work / life balance" as the second largest source of concern. Other causes include increased utility bills for public institutions, such as electricity and gas, higher fuel and health prices, education for children, and higher food prices, respectively.
Consumer Confidence Index
Dubai’s economy relies in this study on the consumer confidence index, which gives an individual indication of the consumer’s feeling towards the current economic situation in the emirate, in addition to intentions and expectations for the future, and the ability to track customer confidence over a specific period of time. The launch of the report comes within Dubai’s economic keenness to provide a reference for businessmen and policy makers in analyzing the signals issued by markets, analyzing its data and understanding its important dimensions, in order to achieve sustainability and competitiveness in their businesses in the Emirate of Dubai and the UAE in general.
• 80% of consumers are optimistic about the improvement in their employment situation during the next 12 months.