Survey Reveals Expat Confidence Due To Dubai Expo 2020

expats are now optimistic about 2020 personal finances and jobs.

A new survey released last Monday reveals 80 per cent of expatriate professionals in Dubai now feel optimistic about their job prospects and personal finances, with 32 per cent considering the emirate’s jobs situation will improve considerably over the coming year. Over half of Emirati responders to the survey registered the same feelings, and 43 per cent of expatriates see their overall prospects as good.

According to the new study, undertaken by Dubai’s Consumer Confidence Index, job-seekers in the expat community as well as Dubai citizens believe that the chance of finding a suitable job during 2020 is excellent, and the results for residents’ personal finance prospects were also on the positive side as over three quarters of respondents are happy with their projected personal finances in the new year.

The reason for this rush of optimism as regards both jobs and money is Dubai’s upcoming Expo 2020 event, expected to provide a huge boost to the emirate’s overall economy. Sectors including tourism, trade and retail are the focus of activity, with thousands of part-time as well as full-time jobs being offered before the start of the mega event next October 10. GDP is also expected to grow by over three per cent both in 2020 and 2021 as a result of the massive show.

Over the past year, the main concerns for both expats and Emiratis in Dubai focused on a dearth of both jobs and salary increases, but three-quarters of those surveyed believe the situation will reverse itself in 2020. Overall, this year’s major issues for both sectors concentrated on a lack of job security and increases in the costs of utility bills, food, healthcare, fuel and education.