Dubai Economy: The Consumer Confidence Index is at the highest level since 2015

  • Dubai Economy: The index reflects consumers' perception of the current and future economic situation.

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  • Muhammad Lootah: "The indicator showed that citizens are the most optimistic about the improvement of personal financial conditions, at the present time."

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The Consumer Confidence Index in Dubai rose, during the first quarter of 2021, to its highest level since the second quarter of 2015, recording 145 points during the first quarter of this year, compared to 139 points in the same period last year, and 142 points from the fourth quarter of the year. 2020.

The Executive Director of the Commercial Control and Consumer Protection Sector in Dubai Economy, Mohammed Ali Rashid Lootah, said in a statement yesterday, that “the index has witnessed an increase regarding the improvement in the personal material conditions of consumers at the present time, with 77% of consumers expressing their optimism compared to 70% for the fourth quarter of 2020. Consumers' optimism about personal material conditions also increased during the next 12 months, as 84% ​​of consumers expressed their optimism, compared to 73% in the same period last year.

Conditions improved

He added, "The indicator showed that citizens are the most optimistic about an improvement in personal financial conditions at the present time by 89%, and Arab residents are the most optimistic about an improvement in personal financial conditions in the next 12 months by 87%."

Lootah pointed out that 84% of consumers are optimistic about the economic situation during the next 12 months in general, and 89% of citizen consumers and 87% of Europeans, Americans and Australians are optimistic about the economic situation for the same period.

He said: “87% of consumers also expressed their optimism about the improvement in the chances of getting a job during the next 12 months, and the most optimistic are the 30-39 age group, with an optimism rate of 90%, which reflects the positive impression of consumers towards the availability of suitable job opportunities. Which positively affected their impressions about getting a job during the coming period.

Buy things

79% of consumers feel that the time is right to buy the things they need and want to buy, while 94% of public sector workers in particular, and 89% of Europeans, Americans and Australians in general, find the time is right to buy their needs.

As for spending extra money on basic needs, the index indicated that 38% of consumers will spend on vacations, 37% on entertainment outside the home, and 34% will save additional sums.

On the other hand, the index showed the measures taken by consumers to avoid leaving the budget, as 48% of consumers indicated that they would reduce purchasing new clothes, 43% postponed technology modernization, and 41% would reduce purchasing new meals.

The Consumer Confidence Index, carried out by the Dubai Economy, reflects the consumers' impression of the current and future economic situation, in addition to the future intentions and expectations of the buying and saving operations, and their perceptions about the chances of getting a job, and the personal financial circumstances, as these studies help in developing policies related to consumer protection, In addition to clarifying these perceptions to the private sector, to analyze the situation and develop their marketing policies.

Precautionary measures

Dubai Economy called on consumers to report any negative cases or phenomena that violate the precautionary measures, through the "Dubai Consumer" application, available on the stores: "Apple", "Google" and "Huawei", or by calling 600545555, or via the website. : consumerrights.ae

Consumer optimism has picked up regarding personal finances over the next 12 months.

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