According to the "Consumer Confidence Index" from the Dubai Economy

93% of Emiratis are optimistic about finding a job in the next 12 months

• Dubai Economy: The Consumer Confidence Index measures consumers' perceptions of the economic situation.

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• Mohammed Ali Rashid Lootah: "The study of the index showed unprecedented results, reflecting the positive impression towards the economic conditions."

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The study of the Consumer Confidence Index, carried out by the Dubai Economy, represented by the commercial control and consumer protection sector, on a quarterly basis, showed that the index rose during the third quarter of 2021 to the highest level since its launch 10 years ago, as the index rose, during the period from July to August 2021, 2 points compared to the previous quarter, and 21 points compared to the same quarter of 2020.

The study revealed that Emiratis were at the top of the impressions of getting a job in the next 12 months, with an optimism rate of 93%.

The Consumer Confidence Index measures consumers' current and future impressions of the economic situation, consumers' perceptions about job opportunities, personal financial conditions, and consumers' desire to buy products they need and want to buy.

getting a job

During the third quarter of this year, the index showed positive impressions of job opportunities at the present time, as the percentage of consumers who are optimistic about finding a job reached 73%, compared to 46% in the third quarter of 2020.

Optimism about getting a job in the next 12 months rose to 88%, compared to 77% for the third quarter of 2020. Europeans and Americans were at the forefront of optimism about getting a job at the present time, reaching 80%, while the Emiratis led the impressions of getting a job in the 12th Next month, an optimism rate of 93%.

Unprecedented results

For his part, the Executive Director of the Commercial Control and Consumer Protection Sector, Mohammed Ali Rashid Lootah, said: “The study of the Consumer Confidence Index showed unprecedented results, which reflects the positive impression of consumers towards the economic conditions, and how Dubai successfully dealt with the resumption of economic activity, after the challenges of the (Covid-) pandemic. 19).

He added, "This is evident in the feeling of 86% of consumers that their personal financial conditions are good at the present time, compared to 72% of the third quarter of 2020."

buy things

Lootah continued: "82% of consumers believe that the time is right to buy the things they need and want to buy, which will reflect positively on the increase in spending in the local economy, and the positive contribution to economic growth, and this comes as a result of 78% of consumers feeling that the current economic situation Very good, compared to 57% for the same quarter of 2020, while positive consumer expectations about the economic situation for the next 12 months rise to 85% compared to 72% for the same quarter of 2020.

He pointed out that 82% of Emiratis, and 81% of self-employed people of various nationalities, feel that the current economic situation is good. As for the next 12 months, 95% of workers in the public sector, and 87% of male participants in this study, believe that the situation is good. Economic is good.

Lootah pointed out that consumers believe that the improvement in the economic situation is due to the recovery of tourism, the boom in trade and the increase in advertising campaigns.

• 86% of consumers feel that their personal financial conditions are good at the present time.

• 82% of consumers believe that the time is right to buy the things they need and want to buy.

• The consumer confidence index rose to the highest rate in 10 years.

extra money

The Consumer Confidence Index revealed how consumers deal with money in excess of basic needs, as 44% of consumers planned to spend it on vacations, 36% for outdoor entertainment, and 33% for new clothes.

The index pointed to the measures taken by consumers not to leave the budget, as 51% of them stated that they would reduce the purchase of new clothes, while 39% of them tended to reduce spending on holidays and short vacations, and 38% decided to reduce entertainment outside the home.

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