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DUBAI / Emirates Business
Consumer confidence in the UAE rebounded in the fourth quarter of 2018, as residents absorbed the impact of VAT and high expenses incurred over the summer.
That’s according to the consumer confidence tracker Q4 2018 from yallacompare, the Middle East’s leading comparison site for financial products. During the fourth quarter of 2018, the tracker polled more than 1200 UAE residents on the state of their finances and attitudes towards work. It follows similarly sized surveys conducted throughout each quarter of the year.
The consumer confidence tracker Q4 reveals a 54% increase in those saying they feel more confident about their finances than 12 months ago (22% of respondents feel more confident in Q4 versus 14% in Q3). The proportion saying they feel less confident has dropped 22% since the previous survey, from 53% in Q3 to 41% in Q4. Moreover, the Q4 tracker recorded a 21% decline in the number of UAE residents worried about the increased cost of living in the UAE.