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Financial decision-maker sentiment: UAE

An ongoing look at how the attitudes of financial decision makers in the UAE are evolving during the COVID-19 pandemic.

Financial decisions makers in the UAE are optimistic about economic recovery post COVID-19. Almost 70 percent of consumers believe the economy will strengthen in the next 3 months. Roughly 65 percent of consumers are concerned about their job, but only 30 percent expect their financial situation to weaken in the next 3 months. The majority have seen household income, savings, and spending decrease over the past month and express concern over job security. Sentiment towards banks during the crisis is mostly net neutral and consumers would like more flexibility with loan payments and late fees.

About the author(s)

John Euart is an associate in McKinsey’s New York office, Georgi Konov is a partner in the Dubai office, and Brittany Lewis is a specialist in the New Jersey office.

The authors would like to thank Harshit Gupta and Aditya Singh for their contributions to this article.

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