UAE residents prefer cold, hard cash over other gifts

UAE residents prefer cold, hard cash over other gifts

Looking for the perfect gift for that special someone? Fret no further, their joy is just inside your wallet, according to one study.

December 22, 2011 3:26 by Precious de Leon

Looks like the economic crisis has taken some sentimentality out of us as 63 percent in the UAE say they prefer to receive ‘cash’ gifts as opposed to physical gifts of the same value, according to a study commissioned by Western Union.

When asked what they plan to do with the cash gifts, 33 percent say they’d prefer save or invest the money, 19 percent would treat themselves and 17 percent would use it for basic necessities.

Are times this tough that we’d replace the warm fuzzy feelings of tearing the wrapping off a mysterious package with the practicality of tearing open an envelope and hearing a couple of ka-chings?

We’d much prefer to think that it may just be the case of these respondents receiving a string of gym socks, melted chocolates and other desirable gifts, resulting in this Scrooge-like behaviour.

When it comes to giving gifts, however, most are still shopping around for physical gifts although most of them (59 percent) say they will be shopping with a budget—that’s a 70 percent increase from the previous year.

Making a budget of course is different from actually sticking to it. In fact, 64 percent say they are expecting to go over budget when it comes to gift shopping for their loved ones. Show offs.

The research, which was commissioned by Western Union.