Consumers increasingly trust Abu Dhabi
Shoppers at the mall. This year, luxury consumption is forecast to grow but at a slower pace, by 7 per cent, and sales are likely to hit $2 billion.
Click here to add Abu Dhabi as an alert
Disable alert for Abu Dhabi,
Click here to add Department of Economic Development as an alert
Disable alert for Department of Economic Dev ...,
Click here to add Mohammad Ameerah as an alert
Disable alert for Mohammad Ameerah,
Click here to add Sharjah Chamber of Commerce as an alert
Disable alert for Sharjah Chamber of Commerce
The general consumer confidence in economic performance index for the Emirate of Abu Dhabi in the first quarter of 2013 hiked by 2 points, up from 126 for the same period of 2012, an index by Studies Directory of the Department of Economic Development showed.
The index showed that 2012 registered about 125 points on average compared to 118 points in 2011, a rise by 7 points.
Mohammad Ameerah, an economist at Sharjah Chamber of Commerce and Industry, said that the index reflects high expectations of individuals in general.
“The economic growth of the UAE economy which is expected to be more than 4 per cent this year is behind this optimism and we expect further positive figures throughout this year,” said Ameerah.
He said the development in the UAE will lead to further growth rates which will result in more job opportunities.
More confidence in public policies
The index revealed that confidence in government policies during March 2013 increased to 115 points compared to 113 points in February 2013, reflecting the rise of optimism among individuals in different age groups, educational levels and nationalities.
It showed that confidence is rising in both current and future economic conditions, individuals financial condition and government policies.
The indicator showed that the government of Abu Dhabi is interested in providing decent life for all citizens and residents of the Emirate, with upbeat at its highest levels amongst individuals who expect further jobs in the coming three months.
The index revealed continued improvement in the future expectations amongst non-citizens who showed more optimism about the future of Abu Dhabi’s economy.
- Same-day service deliveries in GCC an untapped market: Wing CEO
- So cool it's hot: Saudi Arabia's $3.2B HVACR market driven by construction boom
- Oman sees steady upswing in fishing industry
- Breathe easier with LG Saudi Arabia’s new indoor ventilation system
- Careem offers discounts to riders headed to the gym!
- Abu Dhabi's TDIC Sukuk Ltd. proposed $1.45 billion trust certificates issuance program assigned 'AA' preliminary rating
- Optimism for Abu Dhabi as "Consumer Confidence" grows
- Worth a gasp? Abu Dhabi’s inflation already up 2.1% in 2014's first two months
- GCC Investment Strategy and Sectors Outlook for 2006