Home Dubai News UAE residents opt for savings, insurance and investments in 2023, reveals survey

UAE residents opt for savings, insurance and investments in 2023, reveals survey

Data for the UAE was based on a nationally representative sample of 1,204 respondents

by Tanvir Awan
Published: Last Updated on
UAE residents opt for savings, insurance and investments in 2023, reveals survey

Thirty-one percent of the UAE residents have expressed their intention to make regular contributions to their savings in the next 12 months, signifying that saving remains a high priority on their future agenda, according to a latest survey by YouGov in 2023.

Savings, insurance, investments

Among the potential future activities for UAE residents, paying for health insurance (22%), investing in stocks and shares (18%), paying for home, pet, or automotive insurance (18%), and regularly contributing to their pension or retirement fund (17%) are some of the options they may consider.

Although consumers are already taking some measures to manage their finances, a significant proportion of UAE residents (34%) believe that they could benefit from additional assistance in learning how to effectively manage their money.

According to the YouGov poll, 30% of the UAE residents believe that having a better grasp of how to use investments to increase their wealth, as well as assistance in setting a budget and tracking expenses, would be beneficial in helping them manage their money effectively.

YouGov survey findings

  • Regularly put money into your savings: 31%
  • Pay for health insurance: 22%
  • Make investments into stocks and shares: 18%
  • Pay for home, pet, or car/automotive insurance: 18%
  • Regularly pay money into a pension or retirement plan: 17%
  • Buy items using Buy Now Pay Later plans: 16%
  • Use short-term borrowing, like loans or credit cards to make a purchase: 15%
  • Make investments into Cryptocurrency: 14%
  • Pay for life or critical illness insurance: 14%
  • Make regular payments on a mortgage or home loan: 14%
  • Use finance to buy a car/automobile: 12%
  • None of these things: 10%
  • Use an overdraft facility/overdraft loan account at any point during the month: 10%
  • Make over-payments on a mortgage or home loan: 9%
  • Don’t know: 8%

Data for UAE was based on a nationally representative sample (aged 18+) of 1,204 respondents.

tanvir@dubainewsweek.com

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