UAE consumer confidence up in 2009, says Neilson

Consumer confidence in the UAE rose 13 points to 102 on Nielsen’s Global Consumer Confidence Index for the third quarter of 2009, well above the global average of 89 points. The Emirates is ranked eighth out of 54 nations for consumer confidence during the quarter, up three places from the first half of 2009.

The UAE was also made Neilson’s ‘Top 10 Countries putting into savings’ list, with 59 percent of residents putting aside savings after settling their expenses.

Furthermore, the study found that 75 percent to 100 percent of residents believe the nation is still in a recession, well above the global average of 66 percent. However, 30 percent to 45 percent believed the UAE will be out of the recession with the next 12 months, which is more optimistic than the global average of 26 percent.

Previously, the UAE dropped a whopping 21 points to 89 in the first half of 2009 from 110 in the second half of 2008, although it remained above the global average of 77 points. One in three UAE consumers believed the nation would be out of the recession within a year, and 36 percent noted job security as their biggest worry.