Optimistic, but not quite

Optimistic, but not quite

Though the general sentiment with regards to the financial outlook for the next year is positive, the same cannot be said of employee benefits.

August 1, 2011 3:35 by Eva Fernandes

When it comes to the general public sentiment about the near-future of finances in the UAE, the demos aren’t quite as pumped to be encouraging; at least that is what a recent survey has found.

According to the results from the Consumer Confidence Index survey conducted jointly by Bayt.com and YouGov, 51 percent of respondents said they expect that the UAE’s economy will improve within a year. And though a majority of those surveyed said they believed with the next 12 months there will be better business conditions, a majority (51 percent) think there will be either no change or fewer jobs than at present. So although, the UAE populi seem confident that things will turn around from the business, they are less confident that the benefits of such changes will trickle down to them.

Given the lack of confidence, should it be no surprise that the majority, 47 percent, say they are neutral about making large purchases, with most choosing not to opt for investments in property and purchasing new cars in the next 12 months.

No one puts it quite as well as our dear friend Amer Zureikat, VP Sales at Bayt.com who says: “The overall feeling is that while the coming year will be favourable for business and corporations, this may not necessarily reflect on employees’ benefits.”
Which is why we headed our article with the title “optimistic, but not quite” – the question is which one of the two are you?