Dr Karen Remo, CEO and Managing Director of New Perspective Media Group and Editor of the Filipino Times

Vince Ang, Vice President, Brand Engagement at New Perspective Media Group and Managing Director, The Filipino Times

DUBAI, UNITED ARAB EMIRATES, December 8, 2021 /EINPresswire.com/ – A national survey presented at Expo 2020 Dubai announced post-pandemic optimism among Filipino consumers for the UAE’s sustainable growth trajectory over the past 12 next months.

The study conducted by The Filipino Times, the largest information platform for Filipinos in the Middle East and North Africa, focused on several key indicators to measure the confidence of expatriate Filipino consumers and covered 2,612 Filipino respondents from all emirates.

It measured the sentiment and purchasing power of Filipino consumers, as well as the business prospects of companies that cater or target Filipino consumers in the United Arab Emirates, which is considered one of the loyal consumer segments of the United Arab Emirates. fastest growing brand.

Engines of optimism

As presented at the Global Business Forum-ASEAN hosted by the Dubai Chamber at Expo 2020 Dubai, the survey found that an overwhelming 96% of Filipino expats believe the UAE economy is in better shape. position to achieve further progress in 2022 through improved performance. the private sector since the pandemic.

Thanks to the economic impact of the Dubai Expo, strong population growth, double-digit growth of new businesses as well as the highest vaccination rate in the United Arab Emirates, 89% of Filipino professionals are also with an optimistic prospect of a salary increase in 2022. A third of them already earn a monthly salary of more than AED 10,000.

Fastest Growing Consumer Market in UAE

This strong optimism among Filipinos is reflected in their spending habits, making it a large and profitable, rapidly growing consumer market in the UAE.

In an analysis, the survey underscored the importance of measuring consumer spending, which is directly linked to better job prospects. While spending stimulates businesses, the business recovery leads to a bullish job market and increased spending.

Due to the growing purchasing power of Filipinos and their well-established reputation for brand loyalty, they are being courted by local and international businesses in the UAE.

Filipinos are brand loyal

Almost 8 in 10 Filipinos also pointed out that they are willing to pay a higher price for the products they aspire to buy from well-known brands.

Of that number, 39% are willing to buy high-end gadgets; 26 percent on culinary experiences; 24% on branded clothing, fashion items and accessories; and 11 percent on cars / vehicles.

The average age of Overseas Filipinos in the UAE is in the ‘millennial’ range, which studies show stands out for its use of technology and embrace of digital life.

Dr Karen Remo, CEO and Managing Director of New Perspective Media Group and Editor of The Filipino Times, said: “As one of the largest expat communities in the UAE, Filipinos have become a consumer segment. major for many brands, both local and international. – in this country. We have seen more and more brands strengthen their strategy by capturing the heart of this important target market. “

“The positive sentiment leads to an optimistic business outlook, as the growing number of Filipinos, their growing purchasing power and the strengthening of ties between the UAE and the Philippines fuel the expansion of Filipino businesses, from Filipino entrepreneurs based in the Philippines. UAE and international companies targeting Filipinos, ”added Dr Remo.

Increase in purchasing power

As the survey results show, 6 in 10 respondents said they have personally noticed an increase in promotions and marketing campaigns by local and international brands that specifically target Filipinos.

Vince Ang, Vice President of Brand Engagement at New Perspective Media Group and Managing Director of The Filipino Times, said: “This survey shows that companies see the potential of the Philippine market in the United Arab Emirates as a group of target consumers ready to make that decision. to opt for a particular product or service.

He added, “Now more than ever, it’s crucial for businesses to stay in touch with their audiences. In our case, we have seen strong growth on The Filipino Times website with double the number of visitors to our online platforms, with growing partnerships that we now have with different companies that intend to exploit the Philippine market.

New wave of entrepreneurs

The UAE’s overwhelming support for businesses in the region has also sparked a new wave of business-conscious Filipinos to engage in entrepreneurship, with 94% of those polled saying they’ve noticed more Filipino-owned businesses in the Emirates. Arab Emirates compared to five years ago.

At present, there are 792 Filipino-owned businesses in Dubai alone, according to the Philippine Ministry of Commerce and Industry, citing data from the Dubai Chamber.

Meanwhile, 98% of those polled also noted an increase in the number of Filipino brands on the shelves of their favorite supermarkets and grocery chains.

Vince ang
New Perspective Media Group
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