A fifth of UAE residents claim their disposable income has decreased in the last 12 months

A fifth of UAE residents claim their disposable income has decreased in the last 12 months

New data from YouGov’s latest report Financial Outlook 2023: Navigating the Storm, explores how disposable income has changed over the last 12 months and the outlook for the year ahead. Across the 18 markets, Great Britain had the largest decline in their disposable income with almost two-thirds (64%) saying their disposable income has decreased over the past 12 months, followed by Italy and Poland (both 57%).

Markets reporting a more even financial existence where disposable income has remained the same during this time include Hong Kong (41%), Spain (36%) and Germany (34%), whereas markets where the increase in disposable income reaches 20% or more include India (23%) and the United Arab Emirates (UAE) (20%), with Australia and Indonesia closely following (19%and 18%respectively).

The report uncovers who has been most affected by these ongoing crises, changes to consumer financial priorities, and how financial institutions can support the changing needs of different consumers.

Looking ahead in the future, 45% respondents globally expect their disposable income to decrease in the next 12 months and only 17% expect it to increase.

In the UAE, more consumers report a decrease than increase in their disposable income in the past 12 months. Having said that there is a less pessimistic