UAE Business: Consumer confidence in Dubai hits 10-year high – Gulf Digital News

UAE Business: Consumer confidence in Dubai hits 10-year high – Gulf Digital News

Consumer confidence in Dubai moved to its highest level in 10 years during the third quarter of 2021, the Consumer Confidence Index tracked by Dubai Economy showed.



During the quarter the Index rose two points from the previous quarter and 21 points compared to the same quarter of 2020, reported Emirates News Agency WAM.



The quarterly Consumer Confidence Index measures current and future sentiment of consumers towards the state of economy, job prospects locally, personal finances and consumers’ perception on whether it’s a good time to buy things they need or want.



The Q3 2021 Index showed that 73 percent of consumers were positive about current job prospects, compared to 46 percent in the same quarter of the previous year. A higher share of consumers (88 percent) was optimistic about job prospects in the next 12 months, compared to 77 percent in Q3 2020. Europeans and Americans were the most optimistic (80 percent) on current job prospects while Emiratis were the most optimistic (93 percent) on job prospects in the next 12 months.



Mohammed Ali Rashed Lootah, CEO of the Commercial Compliance and Consumer Protection Sector at Dubai Economy, said: "The latest Consumer Confidence Index reflects an unprecedented level of positive sentiment towards the