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26 December, 2019

Consumer Confidence Healthy in Dubai

The Dubai Economic Department conducted a survey among Emiratis and Expats about their confidence in the Dubai market – and the results have been very positive. Conducted every quarter, the survey aims to gauge the overall confidence of residents and citizens with the job market in Dubai.

The third quarter overall consumer confidence index confidence score was at 137, in line with the score of the previous quarter. With Government initiatives announced under happiness, trade-boosting and economic realms, the consumer confidence is only expected to go higher, according to DED.

While over two-thirds of Expats expressed the job prospects in the current quarter to be ‘Good’ or ‘Excellent’, the ratio was in excess of 80% among Emiratis. Future outlook was very healthy with over half of Emiratis and about a third of Expats rating job prospects in the next 12 months to be ‘Excellent’.

In addition, over 75% of respondents were positive about their current financial situation, and over 67% were positive about the overall market economy.

The survey findings echo the investor confidence shown in the Dubai market, where DED announced a record number of 3,818 trade licenses issued in the month of November 2019.

With both investors and the workforce expressing high confidence, the economy is set for its next surge, through the support of strong Government initiatives.

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