Dubai’s consumer confidence rises to highest since 2011

Dubai, UAE – The second quarter of 2021 saw consumer optimism in Dubai rising to its highest level since 2011, according to the quarterly Consumer Confidence Index of Dubai's Department of Economic Development (Dubai Economy).

Consumer confidence rose to 151 points in the second quarter of 2021, a marked increase from 125 points recorded in the same period last year and the 145 points in the first quarter of this year.

Mohammed Ali Rashid Lootah, CEO of commercial compliance and protection sector at Dubai Economy, said, "The latest Consumer Confidence Index, which shows remarkable improvements in consumer perceptions in Dubai during the second quarter of this year, reflects the growing momentum of broader economic recovery.”

“For example, 75 per cent of consumers were positive on jobs, compared to 32 per cent in the same period in 2020. Besides, 91 per cent of consumers were also optimistic of finding a job in the next 12 months, compared to 75 per cent in the same period last year. Among those confident of finding a job, 81 per cent fall in the 40-49 age group," he said.

Consumers were also positive on their current personal financial conditions as 81 per cent of them expressed confidence, compared to 57 per cent in the same period in 2020.

Those looking forward to improvements in their personal finance over the next 12 months constituted 85 per cent in the first quarter of 2021, compared to 73 per cent in the same period of last year. Consumers in the 50-59 age group make up 88 per cent of those optimistic of an improvement in their personal finance.

The index showed that 84 per cent of the consumers had a positive perception on the overall economy in the second quarter, compared to 77 per cent in the same period last year. The recovery seen in tourism and commercial traffic as well as increase in advertisements appeared to be the factors driving positive perceptions on the economy.