UAE: Are you among the 89% residents who have set savings goals?

An overwhelming majority of UAE residents (89 per cent) have established personal financial goals for 2024, a survey has revealed. Responding to questions posed by savings and investment company National Bonds, these residents listed out their top priorities: Increasing existing savings, planning for retirement, and allocating funds for children’s education.

About 90 per cent of respondents have expressed confidence in realising these goals, with Asians displaying the highest confidence levels at 93 per cent among expatriates.

Nearly 90 per cent of both male and female respondents have set their financial resolutions. Female respondents prioritise increasing current savings, planning for significant purchases, and preparing for retirement. For men, along with prioritising increasing current savings and planning for retirement, investing in children’s education is a key goal.

Among Generation Z participants, 92 per cent exhibit proactive engagement in financial planning. Their top priorities include increasing current savings and reducing unnecessary expenses. This result highlights a growing financial literacy within the younger demographic.

According to the survey’s key findings, 57 per cent of the respondents have set specific financial goals.

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