Financial confidence falls but residents remain optimistic in UAE
Almost half of residents in the UAE are less confident about their financial health than they were 12 months ago.
That’s according to yallacompare’s quarterly Consumer Confidence Tracker, in which just 19 per cent of respondents said they are more confident than they were in Q1 of 2017.
However, the report also found that residents remained more optimistic about their prospects in the Emirates than elsewhere, with only a quarter saying they’re more likely to leave the country due to their financial health.
Thirty-eight per cent feel less secure in their job, and 16 per cent expect a pay cut over the next 12 months.
Meanwhile, the tracker revealed that the fears around the impact of Value Added Tax (VAT) have not been realised, with only 1-in-10 feeling its introduction has led to them struggling to make ends meet, whilst 3-in-10 say they’ve barely noticed the additional cost from VAT.