UAE residents have seen the worst in terms of Job loss, economic downturn and instability in the past 1.5 years. Now with an emerging outlook and an increasing market confidence, UAE residents believe that the market is stabilizing and the economy is recovering at a considerable pace.

Ipsos unveils the research results of the spending patterns that indicate the difference amongst the UAE residents between 2009 and 2010.

Ramesh Mishra, Marketing Research Project Manager of Ipsos MediaCT in the Mena region, said, "After Ipsos Marketing team monitored consumer sentiments within the past six months, it was found that consumer spending patterns increased, which has given an overall confidence to the market."

He adds, "This is a positive sign proving that the market is moving in the right direction, one which is of sustainable growth."

In 2009 the retail sector received a big hit. A decrease in spending on dining out, food & groceries, telecom and internet, and even smoking showed evidence to how UAE residents were dealing with the crisis.

During the recession period a third of UAE consumers reduced spend on housing and rent. UAE residents have further reduced their spending because of the "in your face" decrease in prices within the housing and real estate sector in general.

However, 2010 has proven to be a more spend thrift year which is a positive boost for the retail sector. This increase in spend is particularly evident in the telecom and internet sector.

Last year was "a challenging year for UAE residents" there was an apparent reduction in the purchase of durable goods, credit card usage, dining out, travel / holidays, entertainment etc., but now as the UAE recovers from the effects of the global economic downturn, a pick-up in consumption levels is evident in the market.

In addition, when consumers were asked about their spending pattern in terms of how cautious they are with spending, results show that in 2010, 24% of respondents mentioned that they have become more careful in their spending patterns as compared to 40% in 2009.

Furthermore, the majority of the UAE residents have predicted that UAE economy will be stronger in the coming 6 months while one third expects it to remain the same.

With this recent, positive outlook and confidence towards the economic situation, it is safe to say that UAE residents' lives are returning to normal and they feel that the worst is over- showing signs of consumers looking forward to a better future and prosperous tomorrow.