Most of the UAE Citizens and Residents Have Specific Financial Goals for this Year.
A survey by Sukuk National indicated that 89% of UAE citizens and residents are planning to increase current savings, be ready for retirement, and allocate funds for children’s education.
Moreover, the survey focused on exploring financial behavior.
In addition to understanding savings aspirations and trends among UAE citizens and residents of all generations.
Including Generation Z, millennials, Generation X, and beyond.
57% of Sukuk National survey Participants Had set specific financial goals
The survey’s main findings showed that 57% of participants had set specific financial goals.
While 63% expressed a willingness to seek professional financial advice.
This highlights the critical role that Sukuk National’s ongoing awareness campaigns play in promoting financial literacy.
The survey indicates that 89% of total participants in the survey had set specific financial goals for 2024.
It is also noteworthy that 90% of participants expressed confidence in achieving these goals.
Asian residents showed the highest levels of confidence, at 93%.
The survey highlights the clear priorities between genders.
Furthermore, it is showing that 90% of female participants had defined their financial decisions compared to 89% of male participants.
Female participants prioritize increasing their current savings, planning for large purchases, and preparing for retirement.
While male participants focus on issues related to increasing their current savings, planning for retirement, and investing in their children’s education.
This disparity is attributed to the different roles of the two groups in society and the priorities of each based on their role.
Financial Goals Based on Age Group
Among the participating age groups, 92% of Generation Z showed a proactive commitment to financial planning through making financial decisions.
Because their primary focus was on increasing current savings and reducing unnecessary expenses.
This confirms the growing level of financial literacy among the younger population.
Rahaf Lotah, the chief operating officer of Sukuk National Group, said:
“I am pleased to announce the impactful findings of our latest survey, which covered a diverse range of age groups among the population in the UAE.
It was clear from the survey that 63% of participants prefer to receive professional financial advice.
Which confirms the effectiveness of our ongoing awareness campaigns dedicated to improving financial literacy.”
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She added: “This survey is of great importance for understanding the financial aspirations of citizens and residents of the country.
It also reaffirms our commitment to empowering individuals and providing them with the necessary support to make informed financial decisions.
In order to enhance their ability to manage personal finances with complete confidence.
This is our mission at Sukuk National. Our commitment is to help clients achieve long-term financial security by relying on innovative savings and investment solutions that are tailored to meet their needs.
In this way, we contribute to shaping the constantly evolving landscape of financial priorities in the country.”
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