About seven in every 10 people in the UAE (71 per cent) are confident about their finances, Nielsen’s study showed.
However, there is still “cautious optimism” in the country. Most consumers are feeling optimistic about the economic progress, but they’re cautious about spending, due to the global economic challenges and geo-political situation in the region.
“The consumers in the UAE managed to maintain the confidence in its economy through their long-term strategic plans. The unique blend of the UAE economy and insightful vision has strongly contributed to upholding their confidence in the economy,” said Arslan Ashraf, Nielsen managing director, Arabian Peninsula.
A significant number of consumers in the country also feel they need to work more on their strategies to achieve financial goals.
About a quarter of the respondents said they are positive that their current financial planning will be enough, while 46 per cent said they will need to closely monitor and adjust investments from time to time in order to best meet their targets.
