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ME Consumer Confidence Index survey optimistic on UAE’s economic conditions
By Our Business Bureau March 14, 2017
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DUBAI: The latest results from the Middle East Consumer Confidence Index survey carried out by Bayt.com, the Middle East’s number one job site, and YouGov, research and consulting organisation, indicates that nearly three quarters of UAE respondents expect the business conditions in their country to “improve” within the next year. Furthermore, the bigger proportion of UAE respondents (58 per cent) expect their country’s economy to “improve” within the next six months.

Economic Conditions

When it comes to current business conditions, more than four in 10 UAE respondents believe that the business conditions are either “good” or “very good”. UAE respondents are very optimistic about business conditions within the next year, where 72 per cent believe that they will “improve.”

Looking at future availability of jobs in the UAE, there is a general positive outlook amongst UAE residents, where 40 per cent of respondents believe the number of jobs available will “increase” over the next six months.

67 per cent of UAE respondents believe that their current financial position is now “better” or the “same as six months ago.” When it comes to future expectations, more than half (56 per cent) of UAE respondents expect that their financial situation will “improve” in the next six months.

Current Job Perspective

In the UAE, one third of employed respondents reported that the number of employees in their companies has increased over the past six months. The majority of those who were surveyed (47 per cent) expect the number of employees in their organisation to increase over the next six months.

With regards to satisfaction levels, over half (51 per cent) of UAE respondents are satisfied with their career growth opportunities. When it comes to compensation, more than a third of UAE respondents (36 per cent) are satisfied. Half of respondents (50 per cent) in the UAE are satisfied with the non-monetary benefits they receive, and 52 per cent are satisfied with the level of job security that they have in their current organisation.

“As the leading job site in the Middle East, we find it vital to provide all professionals with insights on the economic and financial conditions and how they connect to the job market and availability of career opportunities,” said Suhail Masri, Vice President of Employer Solutions, Bayt.com. “We want to always empower professionals, job seekers and employers alike, to address and overcome any economic changes and make room for improvements in their careers. Employers who are invested in attracting, hiring, and retaining quality talent, who help them maximize productivity, will find our tools, such as CV Search and Job Postings, to be exactly what they need. Similarly, job seekers who stand in face of tough competition will make use of over 10,000 jobs that are available on Bayt.com on any given day as well as the numerous job search tools and resources that help make them stronger candidates.”

Spending and Investment

When it comes to future spending and investment plans, 40 per cent of UAE respondents claim that they are planning to buy a vehicle for personal use in the next 12 months. Of those who are planning to purchase a vehicle, 56 per cent are planning to buy a new one, while 38 per cent are planning to buy a used one.

Respondents were asked about their plans to invest in property, 29 per cent of UAE respondents say that they are planning to purchase property in the next 12 months.

Of those who are planning on making a property investment, 56 per cent will be looking to buy a new property, while 32 per cent plan to invest in a pre-owned property.
 

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