Friday 12 April 2024

Ajman consumer sentiment rises

Ajman’s consumer confidence surpasses global average in 2023

AJMAN, February 28, 2024

The Ajman Consumer Sentiment Index (CSI) for 2023 has registered an increase of 131 points, exceeding the global average of 100 points, a report said.

According to a report by the Ajman Department of Economic Development, this finding indicates that consumers in the emirate are more optimistic about the economic outlook than consumers in most other countries, Emirates News Agency, WAM, said.

Sheikh Ahmed bin Humaid Al Nuaimi, the Representative of the Ruler of Ajman for Administrative and Financial Affairs, said: “The strong showing of 131 points on the 2023 Consumer Sentiment Index reflects widespread optimism in the local economy. This optimistic sentiment is expected to translate into increased consumer spending, driving demand for financing and investment, and ultimately fuelling economic growth.”

Sheikh Ahmed, who is also Chairman of the Department of Economic Development in Ajman, attributed this to the comprehensive and balanced economic policies at the country and emirate levels in achieving a leading regional and global position that has enhanced the aspirations of consumers and investors alike.

The index result is also an incentive for the government and decision-makers and policymakers to make more efforts and initiatives that support the economic and investment environment in the emirate, enhance the confidence of the business community, and provide a decent life for all residents of the emirate, he added.

The CSI is a survey-based measure of consumer confidence. It is conducted by asking consumers about their expectations for the future of the economy, their personal finances, and their willingness to make major purchases.



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