MasterCard Index survey reveals UAE consumer confidence highest since 2009

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MasterCard logo. Photo – Shannon Stapleton/Reuters

Consumers in the UAE are very optimistic in their attitudes towards the economy, a survey conducted by an international credit card firm said.

According to the latest MasterCard Worldwide IndexTM of Consumer Confidence released on Thursday, consumers in the UAE scored 86.0 points, the highest level since 2009. They expressed their optimism about economy (89.1), employment (88.9), regular income (86.2), stock market (77.0) and quality of Life (88.6).

Compared to male respondents, their female counterparts were more optimistic (88.2) about their prospects for the coming months, with that under the age of 30 more optimistic (89.5) than respondents over the age of 30 (85.0).

“The consumer confidence score for the UAE is at its highest since 2009, highlighting that the positive performance seen in key sectors like retail and hospitality is trickling down to impact consumer sentiment. The UAE’s continued growth has led to consistently high scores in the last couple of years,” Eyad Al-Kourdi, vice president and country manager, UAE, MasterCard Worldwide, said.

The survey was based on the responses of 11,367 participants and was conducted between 24 April 2012 and 10 June 2012 in 25 countries. Middle East consumer confidence was recorded at 83.5, which is a very optimistic score compared to Africa (76.1) and Asia Pacific (57.2).
The findings also noted that consumer confidence is in the Middle East was the highest in Qatar with a score of 96.6. All markets surveyed across the Middle East, with the exception of Lebanon, reflected positive levels of consumer confidence, with scores of 84 or higher. The survey revealed that consumer confidence in Egypt was surprisingly at a record high of 90.7.
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