95% of UAE residents are optimistic about the future

95% of residents of the United Arab Emirates are confident that the country is heading in the right direction, according to the results of The Primary Consumer Sentiment Index (PCSI).

The survey reveals that people have a bright outlook on the country and are happy with their financial situation as living in the UAE not only allows them to earn money, but also to save.

During the survey, residents of the UAE shared their views on the present and future of the local economy and their attitudes to saving and investing. The survey showed that people in the UAE feel secure, while people in other parts of the world are worried about economic problems.

44% of respondents said they believe their personal financial situation is strong and 81% expect the economy to strengthen over the next six months. 79% of survey respondents intend to invest, while 80% feel comfortable making big purchases, such as a flat or a car.

Dubai and Abu Dhabi were previously ranked among the world’s top 10 most attractive cities for living in terms of economic opportunity, quality of life, growth and development, according to a study by Boston Consulting Group (BCG). In the global list, the emirates were ranked 8th and 9th respectively.

The study, conducted in March 2023, examined the reasons why people move to other cities, as well as local government policies to attract new residents and encourage them to continue living in their new location.

In the group of cities with a population of between 3 million and 10 million and an above-average per capita income, Dubai scored 57.2 out of 100 points. Abu Dhabi, on the other hand, scored 57.8 out of a possible 100 points in the same category. Dubai has excelled (71 points) in terms of its business-friendly environment and commitment to innovation, and has been ranked as one of the fastest growing cities in the world.

Over the years, the emirate has managed to significantly diversify its economy by investing in sectors such as tourism, technology, renewable energy, real estate, finance and transport. Dubai scored 51 in the quality of life indicator and was deemed suitable for quality living.

Source: Time Out Abu Dhabi

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