Sila Consumer Sentiment Index – UAE: Nov, 2021

13th December 2021
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The second-largest economy in the GCC according to population size appears to not be impacted by the emergence of the new COVID-19 variant, sustaining a steady improvement in consumer confidence – from 75.8% in October to 78.2% in November. This substantial rise of 2.4% follows September’s figure of 74.6% and places the UAE above the pre-pandemic net positivity and consumer confidence level of 75.5%, which translates to a robust economy with overall positive sentiment towards all of the items covered in our survey.

UNITED ARAB EMIRATES – BUSINESS

Business confidence currently sits at a series high of 77.1% – the uppermost rating in the history of the consumer sentiment index. Net positivity is up 3.1% from 74% October, at a level that has nearly breached the 74.3% recorded prior to the pandemic. The figure is complemented by robust business sector confidence. Although our survey includes the one-week period that saw the new COVID-19 variant first discovered and announced in the global media, there has not been a substantial increase in negativity – certainly not one comparable to what accompanied the arrival of the Delta variant. As we permit ourselves to be cautiously bullish at the moment, only time will determine the impact on travel across the GCC in December.