Tuesday, Nov 08, 2011
Gulf News
Dubai The UAE has been named one of the world’s most optimistic nations in terms of consumer confidence.
Marketing and research firm Nielsen ranked the UAE seventh in its third quarter report, which analyses the concerns and spending intentions of people across the world.
Global consumer confidence fell for the seventh consecutive quarter with 62 per cent of respondents saying they believe their country is in an economic recession. The UAE, however, was named one of the most optimistic economies with Saudi Arabia also featuring in the top ten Consumer Confidence Index Countries.
Savings
Putting spare cash into savings is a top priority throughout the region. Nielsen says the UAE is home to the most diligent savers with over half (54 per cent) of respondents indicating they plan to save. Paying down debts was also considered important in the UAE and Saudi Arabia, which was ranked second in the Index behind India.
Saudi Arabia, which has adopted a range of stimulus packages in recent months, rose 13 points in the quarter to an index of 120.
The results of the Nielsen study come as a slight surprise as earlier this year a study by National Bonds Corporation found that nine out of ten UAE residents feel they do not have enough savings to adequately support their future. The research, conducted by YouGov Siraj, revealed 71 per cent of people in the UAE do not save regularly.
Nielsen report
Staff Report
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