KHALEEJ TIMES, Thursday, Jan 10, 2019 | Jumada Al Awwal
'Anxious moments' high in UAE
The more you work, the
more you earn and less are the worries. But this might not be true here in the
UAE, reveals a new survey.
According to a survey conducted by
KPMG in eight countries, UAE residents work longer than those in China, the
United Kingdom, the United States, Canada and France, but still their anxiety
level about retirement is higher than the people residing and working in those
The survey results conducted in its Me,
My Life, My Wallet report revealed that around 54 per cent of UAE residents
feel that they work too much or more than they'd like to, second only to India.
People in the UAE work 5.5 days per
week on average compared to 5.7 days in India. Those in China and Brazil work
5.3 days per week on average, 5.30 in France, 4.9 in the US, 4.8 in Canada and
4.7 in the UK.
When it comes to retirement, 32 per
cent of UAE consumers report a high level of anxiety compared to 28 per cent in
Canada and India and 25 per cent in France and US, said Willy J. Kruh, global
chairman for consumer and retail at KPMG.
Ambareen Musa, CEO of souqalmal.com,
attributed the higher anxiety level because expats don't have families and they
don't really get time to play and spend time with their them. Another component
is that their career level in the UAE is different from their home country.
"It is a very competitive market
here. Anxiety level in the UAE is high because it is not the first home for most
of the people because you only have a work visa. So if you don't perform well
you have to leave the country - pack up and go back," Musa told Khaleej
Times in an interview.
"So either you have a job or you
don't have job. People have families to support and this is causing a certain
level of anxiety."
"I would say work and money at this
point in time. Stress is a factor of course, but not a constant," 27-year-old
Sharjah-based resident Amr was quoted as saying in the report.
The KPMG survey results revealed that
60 per cent of consumers in the UAE say they have trust in the government - the
highest among the eight countries surveyed for the report.
That figure is also significantly
ahead of the global average of 37 per cent.
In a time-poor environment, KPMG
survey showed 41 per cent of consumers work six days a week, more than any
developed market so the chance to save time is a powerful draw into the online
"Despite the growth of online
retailers and increased willingness to pay using electronic means, malls will
likely remain at the center of consumers' leisure time," the survey results
"Top-end destinations are attempting
to retain and expand their consumer base, using apps, Bluetooth beacons and
other technologies to augment the consumer experience digitally, while
simultaneously providing more detailed data to retailers."