A poll conducted by the "McKinsey & Company" management consultancy showed that the consumers in the UAE market are optimistic about the speed of the country's economic recovery, compared to many other global economies, after the end of the crisis of the emerging Corona virus (Covid-19).
According to the results of the survey, which included 510 people, 61% of consumers in the UAE were optimistic about an economic recovery, and things returned to normal within two to three months as a maximum, after the crisis ended, while 33% of them believed the economy would return to normal Over a period of six to 12 months, compared to only 6%, they expected the recession to continue for much longer.
Based on the results, the level of optimism in consumer opinion increased during the survey period, which extended from the third to the sixth of April, compared to the period from 23 to 26 last March, as these surveys are conducted online, and are repeated weekly or every half a week, according to Region.
The UAE and Saudi markets recorded, alongside, significant levels of optimism compared to other global economies included in the survey, followed by India with 56% and China 53%, compared to 48% for the Nigerian market and 39% in America.
Optimism among consumers participating in Russia was 26%, compared to 15% for the Spanish market, while France and Italy recorded 14 and 13% each, respectively. The survey measures consumer behavior and expectations in 38 countries around the world, in light of the implications of the Corona virus.
Although Emirati consumers are still optimistic about the country's economic recovery, after the outbreak of the new Corona virus, they are planning to cut their spending, as 76% of them expressed caution about spending under the current circumstances.
The foundation said that the levels of optimism and the effects of income and spending are constantly changing all over the world, at a time when consumers are adopting new behaviors around the world, noting that with governments and organizations continuing to work to contain the virus and stop the increasing losses, consumers feel its economic effects.
She stated that European countries are the least optimistic, noting that despite the significant growth in online shopping and buying rates almost everywhere, this shift has not come close to compensating for the general decline in spending levels in general.
The Foundation indicated that, since mid-March, it had conducted consumer surveys to understand the effect of "Covid-19" on consumer morale and behavior, adding: "In general, consumers expect a significant negative impact on income levels and the long-term effects of the virus on their financial lives."