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UAE residents most frugal in Middle East
Forty-three percent of UAE residents claim they are curbing their spending habits because of...
July 21, 2009 7:09 by Dana El Baltaji
Forty-three percent of UAE residents claim they are curbing their spending habits because of the financial crisis, making them the region’s most tight-fisted bunch, according to a study by recruitment website Bayt.com and research firm YouGov released on Monday.
Nassim Ghrayeb, the CEO of YouGov for the Middle East and North Africa said: “In similar research over the past six months, we have seen that UAE consumers are cutting back considerably on their spending. Now, despite some signs of optimism at the grass roots level in the global economy, it seems the trend of being more price-conscious looks set to continue, at least in the short-term.”
The survey included 14 countries in the Middle East and North Africa.