51% of Gulf residents want to start their own business

51% of Gulf residents across UAE, Saudi Arabia, Kuwait and Bahrain expressed a desire to start their own business, whilst 20 per cent and 14 per cent want to buy a house and spend on family respectively, a recent consumer survey conducted by Western Union revealed. Results were based on the responses received, when respondents were questioned about how they would spend AED 100,000 should they win the grand prize for Western Union’s ongoing ‘Send Money & Win Big’ promotion (terms and conditions apply). 

Sobia Rahman, Western Union’s Regional Vice President for the Gulf, Pakistan and Afghanistan said, “Western Union helps people move money quickly, reliably and efficiently but more importantly helps bring to fruition a number of dreams. We are currently running a promotion that gives our consumers the chance to win AED 100,000 in cash and achieve their goals. We wanted to share their dreams and see what they want to do with the money. The results really amazed us.” 

Ms. Romela Vestido, a Filipina sales representative working in the UAE said, “If I win a 100,000 Dirhams I will help my family and start a beauty salon back home. I will save the rest of the money for my future use.”  

Apart from starting a new business, the second most important thing people would do after winning the grand prize is buying a house, the survey pointed out. Mrs. Anita Kamit who works as a sales representative in Kuwait added, “I will go back home to India and start my own business but I will also build a house for my family with the cash prize.” 

Western Union's research also showed that 14 per cent of the respondents would like to spend money on family, 11 per cent would like to donate to charity whereas 10 per cent would like to save the money for future use.  

Rahman pointed out, “The Western Union promotion was developed with the aim of creating an impact on the lives of the people in the Gulf, which is considered to be one of the most entrepreneurial regions in the world. The results of the Western Union survey corroborate this statement, illustrating that we are an enterprising, adventurous, risk taking and a business-minded lot.” Mr. Ahmed Khedr, an Egyptian residing in the UAE exemplifies this spirit stating, “If I win AED 100,000, I will invest the money in the UAE itself and start a new professional life.”