Arab Today, arab today over 60 of uae shoppers may overspend this xmas
Last Updated : GMT 20:08:21
Arab Today, arab today
Arab Today, arab today

Over 60% of UAE shoppers may overspend this Xmas

Arab Today, arab today

Arab Today, arab today Over 60% of UAE shoppers may overspend this Xmas

Dubai - Arabstoday

Close to two-thirds of UAE shoppers expect to exceed their Christmas shopping budget this year, according to the results of a survey by money transfer firm Western Union. Around 64 percent of shoppers said they expect to blow their budget on Christmas presents for family and friends this year, despite the dire warnings for the global financial economy. Out of the 500 UAE residents surveyed, 63 percent said they would prefer to receive a cash gift rather a physical present of the same value. A further 33 percent would prefer to save or invest the money with, 19 percent wanted a treat for themselves and basic necessities like gas, groceries or bills was desired by 17 percent. “The UAE has a tradition of giving gifts of value, therefore it comes as no surprise to learn from the survey that giving and receiving cash is the most preferred gift. For those giving, gifting cash is a suitable option as it helps in controlling budgets, and avoid unforeseen costs and time commitment associated with physical purchases. In addition, cash gifts enable recipients to use it in the best way they see fit, whether it means buying a gift of their choice, saving or investing,” said Sobia Rahman, Western Union’s regional vice president for the Gulf, Pakistan and Afghanistan. The lack of awareness regarding financial planning was highlighted earlier this year by the CEO of National Bonds Mohammed Qasim Al Ali. “The consistency in the lack of awareness about the importance of savings and the lack of their being a financial plan is epidemic across the GCC countries,” he told Arabian Business. “That’s where the gigantic task is ahead of it.” Tough economic conditions, including the soaring cost of food, could threaten citizens with an already unstable financial situation, he believed. “Our mission is to alert the decision makers that this is a national crisis that could have dire results somewhere down the road.” “People are having a short-term view about their financial health because they are locked into a certain living standard. There is a mental defeat that says ‘I can’t save as I don’t have enough money to save’ but if they start thinking about how structured their approach should be when it comes to handling their own financials I know they will find ways. “A small kid in Europe maybe knows far better how to handle money or the importance of money than somebody in the Middle East and we need to build on their experiences through the last 40 or 50 years and import such culture of changes into our environment,” he added.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today over 60 of uae shoppers may overspend this xmas Arab Today, arab today over 60 of uae shoppers may overspend this xmas

 



Arab Today, arab today
Arab Today, arab today Nohan Seyam designs beautiful accessories for women

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories for women
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today 11 family members dead in rebel push

GMT 07:57 2017 Tuesday ,21 February

11 family members dead in rebel push
Arab Today, arab today To probe sexual harassment claims

GMT 10:08 2017 Tuesday ,21 February

To probe sexual harassment claims

GMT 14:57 2017 Monday ,20 February

A giant initial public offering on track

GMT 14:50 2017 Monday ,20 February

Energy Market Research

GMT 09:38 2017 Monday ,20 February

Japan returns to trade deficit in January

GMT 07:16 2017 Monday ,20 February

Global arms trade highest since Cold War

GMT 06:10 2017 Monday ,20 February

Tourism shows signs of recovery in Egypt

GMT 05:45 2017 Monday ,20 February

Brexit U-turn ruled out by many in EU
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today 57 monkeys carrying 'invasive' genes

GMT 16:00 2017 Tuesday ,21 February

57 monkeys carrying 'invasive' genes
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Ahmed Fahmy stresses he did not ignore singing

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 14:51 2017 Monday ,20 February

Ways to acquire presentation skills

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 16:08 2017 Wednesday ,15 February

Shawsh reveals her collection "Jewelry of dreams"
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday