Arab youth overwhelmingly support change in KSA

- Youth across the region expect the Saudi Crown Prince to have a bigger impact on the region over the next 10 years than any other Arab leader

- Survey finds young people in KSA and across the region back the decision to allow Saudi women to drive and fully support anti-corruption crackdown

- Young Saudis are highly confident that KSA's Vision 2030 will be a success

- Majority of Arab youth say Daesh (ISIS) and its ideology are heading for total defeat

Source: ASDA’A Burson-Marsteller. From left: Professor Fletcher, HE Al Hashimy, Khorshid, John, and Aldakhil.

Arab youth expect KSA Crown Prince Mohammed bin Salman to have a bigger impact on the Middle East than any other Arab leader, according to the 10th annual ASDA’A Burson-Marsteller Arab Youth Survey 2018, released May 8.

“Over the past 10 years, the Arab Youth Survey has provided insights into many momentous changes in the region, and this year is no exception,” said Donna Imperato, CEO, Burson Cohn & Wolfe. “This annual review of the thoughts and concerns of Arab youth provides an important framework for understanding what is most important to the region’s next generation of business leaders and policy makers.”

The ASDA’A Burson-Marsteller Arab Youth Survey is the largest survey of its kind of the Middle East’s largest demographic – its youth. For the 10th annual survey, international polling firm PSB Research conducted 3,500 face-to-face interviews with men and women aged 18-24 in 16 Arab states between January 21 and February 20, 2018. This year’s findings, marking 10 years of the Arab Youth Survey, shed light on young people’s attitudes on the past decade, which has encompassed the global financial crisis, the Arab Spring, the rise of Daesh (ISIS) and a fall in global oil prices, as well as their aspirations for the next 10 years.

Support for Crown Prince Mohammed Bin Salman

Young Arabs throughout the Middle East express a high level of confidence in the Crown Prince and his leadership, with 63% supporting his appointment, 64% viewing him as a strong leader, and 59% saying Prince Mohammed will lead KSA in the right direction. Young Arabs are also throwing their support behind Saudi Arabia’s young Crown Prince, Mohammed Bin Salman, and view him as the Arab leader likely to have the greatest impact on the region over the next 10 years. 

Support for the new Crown Prince among Saudi youth is overwhelming, with 91% of young Saudis supporting his appointment, 97% considering him a strong leader, and 90% saying he will move the country in the right direction.

Sunil John, founder of ASDA’A Burson-Marsteller and President, Middle East, Burson Cohn & Wolfe, said: “This is a milestone survey for us, marking a full decade of the region’s leading study into its most important demographic.

“This year’s edition is titled A Decade of Hopes & Fears and features insights into young people’s concerns over jobs, education, security and corruption. Looking forward to the next decade, it’s clear that Mohammed bin Salman represents great hope for young Arabs across the region who demand to see clear action on these pressing issues.”

Approval for KSA reforms

Young Arabs also expressed strong support for KSA's recent reforms, with 88% across the region supporting the decision to allow women to drive and 86% (94% among young Saudis) supporting the anti-corruption drive, which saw dozens of businessmen and senior royals detained over graft allegations.

Asked about Saudi Vision 2030, the Crown Prince’s roadmap to diversify the Saudi economy, 92% of young Saudis say they are confident that the plan will succeed in securing the future of the Saudi economy.

Young Saudis are also extremely optimistic about their futures, with 91% saying their country is moving in the right direction, compared to 54% of young Arabs across the region, and 13% of youth in the Levant. More than four in five (82%) of young Saudis also say their best days are ahead of them.

Daesh (ISIS) is a step backward

The majority of young Arabs (55%) say they believe the region has moved in the wrong direction over the past decade – a period stamped by the Arab Spring and the rise of Daesh. Pessimism is particularly pronounced in the Levant, where 85% say the region has moved in the wrong direction. Defeating terrorism, providing well-paying jobs, better education and fighting corruption are all cited by youth as the main action areas to move things back on track over the next decade. 

The majority (78%) of Arab youth say Daesh has become weaker over the past year while 58% say Daesh and its ideology will be completely defeated. It marks a significant shift from 2015 when 47% of young Arabs expressed any confidence in their government’s ability to deal with the terrorist 

organisation. 

UAE is top ally

When asked to name their country’s top allies, young Arabs are most likely to cite the UAE (37%), followed by KSA (35%) and Kuwait (22%). The US has dropped out of the top five for first time in the survey’s history, falling to 11th place. 

This finding stands in contrast to the response from young Arabs when asked which country other than their own they would most like to live in, and which they would like their own nation to emulate, where the US ranks second, behind the UAE. 

The UAE has been the top country to live in for the 7th year running. More than one in three (35%) respondents across the 16 Arab countries polled say the UAE is the country they would most like to live in, surpassing global powers like the US and Canada (both 18%) and KSA (16%). More than a third (37%) of Arab youth also say the UAE is a model country for their own, far surpassing the US and Canada (both 17%) or Japan (15%). 

Other key findings from the ASDA’A Burson-Marsteller Arab Youth Survey 2018 include: 

• Youth in the Levant have an increasingly bleak outlook compared with peers in North Africa and the Gulf States 

• Youth say the past decade – shaped by the Arab Spring and Daesh – has left the Middle East drifting off course

• To steer the region in the right direction, action is needed on jobs, education, corruption and the fight against terror

• While young Arabs increasingly turn to social media for their news, they see CNN as the most trusted and Al Jazeera as the least trusted news sources 

• Inspired by the digital revolution, future Arab entrepreneurs turn to the tech sector, which offers plentiful opportunities in the region 

In the UAE:

• Young Emiratis are overwhelmingly positive about the direction of their country, and believe their best days are yet to come 

• Young Arabs view the UAE as the top ally while Emirati youth see KSA, Egypt, and Kuwait as their country’s strongest allies 

• Nearly three in four (71%) young Emiratis say they support the 5% value added tax (VAT) introduced by the UAE government in January 2018. 

Young Emiratis agree with the positive perceptions of the UAE across the region, with 99% of the UAE’s youth saying their country is heading in the right direction and more than four in five (85%) saying their best days are ahead of them. 

The findings align with the UN Sustainable Development Solutions Network’s 2018 World Happiness Report, which ranks the UAE as the happiest Arab country and 20th out of 156 countries overall. The UAE also leads the region in the World Bank’s Ease of Doing Business table, and, according to the World Economic Forum, is first among the GCC states for gender equality. 

John said: “Throughout the survey’s history, the UAE has consistently been chosen by Arab youth as the nation that best fits their aspirations. As one of the first countries in the region to focus on diversifying the economy to create better opportunities for its young people, the UAE continues to inspire the region with its future-focused vision.” 

The UAE leads by example with youth-focused policies, HE Reem Al Hashimy, UAE Minister of State for International Cooperation, and Director General, Dubai Expo 2020 Bureau, said at the unveiling of ASDA’A Burson-Marsteller Arab Youth Survey. 

HE Al Hashimy noted that one of the most significant findings in this year’s survey was the level of support for HH Prince Mohammed bin Salman among Arab youth and his programme of economic and social development. She went on to highlight the ambition of Arab youth, adding: “The UAE has launched a number of initiatives that activate hope among youth, which reiterates the desire of the government to open fresh opportunities for young people by working directly with them.” 

HE Al Hashimy said it is the UAE’s strategy to integrate and engage with young people, and youth engagement was a priority for Expo 2020 Dubai. “Nearly 30% of the employees at Expo 2020 are below the age of 30. We have a department dedicated to youth affairs, Youth Connect, and to promoting Expo 2020 Dubai in schools and universities. Volunteering is another major part of the expo – and a major focus of our volunteers programme are young people."

Turki bin Abdullah Aldakhil, GM, Al Arabiya News Channel, commented on the finding that young Arabs see Saudi Crown Prince Mohammed bin Salman as a strong leader who will shape the next decade. “Arab youth believe in his role in fighting extremism. They see him as a one of them, someone who thinks like them, and as someone who has broken the stereotype of a rigid political leader,” Aldakhil said. 

“It is not only His Highness’ development mindset that inspires youth but also because he wants to present the real Islam to the world, as many Arab youth were embarrassed to express their religion because of the way in which Daesh represented Islam.” 

On the observation that an increasing number of Arab youth perceive the Arab Spring to have impacted the region negatively, Dalia Khorshid, former Investment Minister of Egypt, said the Arab Spring was a wave of change and “an expression of how youth wanted to dictate their future and create the environment they want”. 

She said: “Egypt marked 2016 as the Year of Youth, when the government focused on listening to young people and discussing various issues. There are bound to be differences but it is healthy. The key aspect is to understand that youth aspire to make a difference, and with digital technology, things are going to change faster.” 

Professor Tom Fletcher CMG, Visiting Professor of International Relations at NYUAD and Visiting Professor and Special Advisor, Emirates Diplomatic Academy, said the real challenge for governments anywhere is that young people globally are finding it harder to trust the generation in office to leave the world in a better shape than it is today – with the exception of some countries, such as the UAE and KSA. He added that “the magnetic quality of the UAE to attract people is a result of the opportunities that the nation creates”. 

He also emphasised the need for “getting the education system right” to ensure that “women are not just behind the steering wheel of cars but also steering the boardrooms.” “What we learn from the digital age is that popularity is easy to gain, hard to hold on to and easier still to lose,” he said, stressing that it is important for leaders to “continue to deliver and take the people with them - thinking of the long-term”.

Details:

Read more results and download the white paper about the Arab Youth Survey

*Interviews were conducted with exclusively Arab national men and women in the six Gulf Cooperation Council (GCC) countries of the UAE, KSA, Qatar, Kuwait, Oman and Bahrain; Iraq, Egypt, Jordan, Lebanon, Libya, the Palestinian territories, Tunisia, Morocco, Algeria and Yemen. The sample comprised 50% male and 50% female respondents. The Levant region typically refers to the countries of Cyprus, Egypt, Iraq, Israel, Jordan, Lebanon, Palestine, Syria, and Turkey.

KSA firms display mixed sentiments for Q316

• KSA’s oil & gas sector has displayed a bearish outlook for Q316 and the non-hydrocarbon sector has maintained its forecast for Q316 
• The manufacturing sector is the most optimistic for Q316
• A third (31%) of non-hydrocarbon firms expect to invest in business expansion; for the hydrocarbon sector, the corresponding proportion is 30%

Dun & Bradstreet South Asia Middle East (D&B), in association with the National Commercial Bank released the D&B Business Optimism Index (BOI) survey for KSA for Q316. The survey reveals mixed sentiments for firms in KSA.

Dr Said Al-Shaikh, Group Chief Economist, NCB, said that despite some recovery in oil prices towards the end of the second quarter, raising to the mid-US$40 to US$50 a barrel range, the hydrocarbon sector BOI of Q316 slipped back into negative territory at -2 points after recording 3 points in Q116. "The negative momentum impacted business outlook, as only 38% of the participants in the survey expect no hindrance to their business," he said. "Looking beyond hydrocarbon, the BOI of the non-hydrocarbon has maintained similar expectations to the previous quarter at 21 points." 

More than half (56%) of the participants were aware of the national Vision 2030 and of the National Transformation Program (NTP) 2020, which is part of Vision 2030. Vision 2030 is a blueprint for excellence grounded in KSA's place as the heart of the Arab and Islamic worlds; a drive to be a global investment powerhouse, and to leverage on the country's strategic location to become a global hub connecting Asia, Europe and Africa. 

The Vision 2030 and NTP 2020 seems to have brought some optimism, thus preventing the BOI of the non-hydrocarbon sector from further deterioration, Dr Al-Shaikh added. He said, "Moreover, a sharp fall of contracts awards witnessed over the first half of 2016, recording approximately SR48 billion, not only impacted the construction sector BOI with a reading at 11 points and 12 points in Q216 and Q316, but other sectors were also impacted with varying degrees. In turn, the Q316 BOI for trade and hospitality dropped sharply to 18 points from 32 points in Q216. Reflecting the positive impact of Vision 2030 and NTP 2020, approximately 30% of each of the non-hydrocarbon firms participating in the survey indicated their expectation to invest in expansion in Q316."

Source: NCB. Dr Said Al-Shaikh, Group Chief Economist, NCB, speaking during the launch of the results.

Hydrocarbon sector

The survey for Q316 reveals a bearish outlook for Saudi Arabia's oil & gas sector, with the composite BOI slipping into negative territory in Q316 to -2 from 3 in Q216. With respect to the business environment 38% of the firms do not expect to face any obstacles in their operations, while concerns about the adverse impact of low crude prices have dominated sentiments as 43% of the firms think that this factor might prove to be a hindrance. Thirty percent of the oil & gas companies have indicated plans to invest in business expansion in comparison to 55% which said they will not undertake such moves.

Non-hydrocarbon sector

Saudi Arabia's non-hydrocarbon sector has maintained its forecast for Q316 at the previous quarter's level, with the composite BOI staying steady at 21. Regarding the business environment in Saudi Arabia, firms are more upbeat about the third quarter than they were for Q216: 51% expect that no negative factors will hurt their businesses in Q316 versus a corresponding 39% in Q216. Business sentiment is most dented by low oil prices (13% have cited it as a key hindrance), issues related to government rules & regulations (13%) and competition (7%). Further, 31% of the firms intend to invest in business expansion, while 52% have indicated that they will not.

Sector analysis

The manufacturing sector's optimism outlook has bounced up from the series low seen in the first and second quarter of 2016; the composite BOI has improved to 27 in Q316 from 22 in Q116 and Q216. The demand, hiring and net profits BOIs have strengthened on a quarterly basis as businesses expect new projects from new clients and an overall increase in demand. Additionally, the business scenario has improved with 59% of them not expecting any obstacles to their operations in Q316 compared to 27% in Q216. A third (31%) of the manufacturing companies intend to invest in business expansion in Q316 against 54% that have indicated that they will not.

The outlook for the finance, real estate & business services sector has reached a new low; the composite BOI slipped from 24 in Q216 to 23 in Q316. While the BOI for volume of sales has edged up on a quarterly basis, the indices for the remaining parameters have turned lower. Nearly half (48%) of the firms in this sector have said that they do not expect any negative factors to adversely impact them during Q316. Additionally, 34% of the respondents expect to undertake investments in business expansion, compared to 45% who will not.

The trade and hospitality sector's forecast for Q316 is at the lowest level recorded; the composite BOI has dropped to 18 from 32 in Q216. All five parameters comprising the composite index have registered declines. Even though the composite BOI has dropped, business environment expectations have improved; 53% of the firms do not expect any hurdles in Q316 compared to 36% in Q216. A third (31%) intend to undertake investment in business expansion in Q316, while 38% will not.

The composite BOI for the construction sector has edged up by a single point from 11 in Q216 to 12 in Q316. The outlook for the construction sector remains weak as crude oil prices continue to remain low, which has suppressed new projects. However, the forecast for the business environment is stable: 40% of the construction companies do not anticipate any hurdles in Q316 compared to a corresponding 41% in Q216. A quarter (26%) of the firms in the construction sector intend to undertake investment in business expansion in Q316 (66% will not take up these plans).

The transportation, storage & communication sector's forecast in Q316 has increased from 7 in Q2, 2016 to 14 in Q316. On a quarterly basis the indices for volumes, new orders, net profits and hiring have strengthened, but that for selling prices has worsened. Half (52%) of the firms in this sector do not expect any obstacles during Q316 (48% in Q216). A third of the respondents hope to undertake investments in business expansion in Q316 versus 60% that do not intend to undertake such plans.

The current survey shows that small and medium sized enterprises (SMEs) have a modestly brighter forecast than the large companies, with composite BOIs of 22 and 18 respectively. SMEs are more optimistic than large companies on all parameters. SMEs hold a modestly firmer outlook with respect to the business environment with 53% of them compared to 49% of the large companies expecting no obstacles to their operations in the coming quarter. For both groups, the leading concerns are the impact of low crude prices and government policies, rules & regulations.

Assad Shaikh, Associate Director - Research & Advisory Services, Dun and Bradstreet South Asia Middle East said: "Sentiments in the region are subdued with respect to firms in the kingdom's hydrocarbon sector. The BOI score for this sector is recorded at -2 in Q3, 2016 from 3 in the previous quarter, weighed down by lower scores for selling prices and profitability. On the other hand, the current survey revealed that the composite BOI for the non-hydrocarbon sector is firm at the previous quarter's level of 21.

"The impact of low oil prices has dented the optimism with respect to the business environment which has turned lower for oil & gas firms as 38% have indicated that they do not expect any factors to impact their operations. The proportion stood at 51% for the non-hydrocarbon sector.

"With regard to investment in business expansion in Q316, sentiments of both groups are comparable (30% intend to invest in such plans for hydrocarbon firms versus 31% for non-hydrocarbon firms)."

The D&B Business Optimism Index is a measure of the pulse of the business community, serving as a benchmark for investors and policy makers. As the latest addition to D&B's global series, the Business Optimism Index on Saudi Arabia, done in association with The National Commercial Bank, is issued on a quarterly basis. The next Business Optimism Index on Saudi Arabia will be released in October 2016.

Interested?

Download the NTP 2020 playbook (link to PDF)

View the NTP 2020 infographic

Arab youth choose UAE as where they would like to live and set up a business

• UAE ahead of US and Germany
• Safety, security and economic opportunity cited as main reasons
• UAE also seen as best place in which to start a business

For the fifth consecutive year, the UAE has been named as the country in which most Arab youth would like to live and the country they would most like their own nation to emulate, according to the findings of the 8th Annual ASDA’A Burson-Marsteller Arab Youth Survey*.

The UAE is also viewed as a model country that is economically secure and is the most favoured nation to set up a business in the Arab world.

When asked to think about the country they would most like to live in, nearly one in four (22 per cent) of young Arabs cite the UAE, ahead of the United States (15 per cent), Germany (11 per cent), Saudi Arabia (11 per cent) and Canada (10 per cent). Likewise, when asked to think about the country they would most like their own to emulate, 23 per cent cite the UAE, ahead of the US (19 per cent), Germany (12%), France (10%) and the UK (10%).

Sunil John, CEO of ASDA’A Burson-Marsteller, said: “The UAE’s popularity among youth is likely a reflection of its status as a model country and regional political and economic safe haven. The nation has developed a global reputation for its robust and diversified economy, which encourages a 'can do' attitude among its residents and is respectful of religious and cultural diversity.”

To help better understand why the UAE consistently polls highest, the survey provided respondents a series of positive and negative phrases and asked them to choose the ones they associate with the UAE most. The top associations with the UAE revolve around safety, security and economic opportunities, with Safe and Secure cited as the number one reason by 36% of youth, followed by Has a Growing Economy, Wide Range of Work Opportunities and Generous Salary Packages, which were each cited by 29% of respondents.

This year, for the first time, the survey asked potential entrepreneurs – young Arabs who said they intend to start a business in the next five years – in which Arab country they would like to set up their business. The UAE ranked as the most preferred country with one in four (24%) citing it as the top business destination in the Arab world, followed by Saudi Arabia (18%) and Qatar (13%).

Interested?

Explore in-depth results from the 8th Annual ASDA’A Burson-Marsteller Arab Youth Survey, including survey highlights and a white paper in Arabic and English

Read the Suroor Asia blog post about entrepreneurship aspirations among Arab youth

*For this year’s survey, international polling firm Penn Schoen Berland (PSB) conducted 3,500 face-to-face interviews with exclusively Arab national men and women aged 18 to 24 in the six Gulf Cooperation Council (GCC) countries of the UAE, Saudi Arabia, Qatar, Kuwait, Oman and Bahrain; Iraq, Egypt, Jordan, Lebanon, Libya, Palestine, Tunisia, Morocco, Algeria and Yemen. The interviews were conducted from January 11 to February 22, 2016.

Arab youth more likely to start a business compared to older cohorts

• The 2016 ASDA’A Burson-Marsteller Arab Youth Survey* finds more than a third of young Arabs intend to start own business in next five years
• Young Arabs say governments can do more to encourage lending, provide training and cut red tape
• Young Arabs are increasingly positive about entrepreneurship with more than half believing members of this generation are more likely to start a business than the previous one

Asked “do you feel people in this generation are more likely to start a business than in previous generations,” 54% agreed, with youth in the GCC most enthusiastic at 62%, compared to 54% of North African youth and 44% of youth in the Levant.

The key finding from the Eighth Annual ASDA’A Burson-Marsteller Arab Youth Survey was unveiled by Sunil John, the founder and CEO of ASDA’A Burson-Marsteller. Now in its eighth year, the ASDA’A Burson-Marsteller Arab Youth Survey has established itself as a key referral source for businesses and policymakers across the world.

In a separate response, the survey found that 36% of young Arabs said they themselves intend to start their own business in the next five years – specifically 37% of youth in the GCC, 39% in North Africa and 31% in the Levant.

Real estate, technology and retail were the top three sectors in which Arab youth would like to start a new business venture. Real estate is the preferred choice for a startup in the Gulf states, where 24% of youth said they would opt to launch a property-related company, whereas technology was the top choice for would-be entrepreneurs in the Levant (15%) and North Africa (18%). Retail is the second most popular choice in Levant and North Africa for 15% and 16 of respondents respectively; however in the Gulf only 9% would opt to start a retail operation.

Across the whole Middle East 34% said they did not intend to launch their own business, while 30% didn’t know. Lack of financial resources to start a business was cited as the main reason overall, by 20% of young people, however in the GCC only 8% believed they lacked the means to go it alone, while in North Africa, 37% saw this as the biggest hurdle.

Young Arabs believe governments can do more to support young entrepreneurs, with 39% saying that encouraging affordable lending should be made a priority; 25% calling for education and training to be improved and made more available; and 19% asking for government regulations and red tape to be cut.

“These findings suggest governments in the Middle East have an excellent opportunity to really help kickstart an entrepreneurial culture in the region,” said Sunil John. “With the Arab world needing to provide 80 to 100 million jobs by 2020, according to the World Bank, this represents a rich resource of largely untapped talent who can help drive the Arab world’s transformation to knowledge-based economies, and provide the opportunities of the future.”

Interested?

Explore in-depth results from the 8th Annual ASDA’A Burson-Marsteller Arab Youth Survey, including survey highlights and a white paper in Arabic and English

Read the Suroor Asia blog post about where Arab youth would most like to live

*For the 2016 survey, international polling firm Penn Schoen Berland (PSB) conducted 3,500 face-to-face interviews with exclusively Arab national men and women aged 18 to 24 in the six Gulf Cooperation Council (GCC) countries of the UAE, Saudi Arabia, Qatar, Kuwait, Oman and Bahrain; Iraq, Egypt, Jordan, Lebanon, Libya, Palestine, Tunisia, Morocco, Algeria and Yemen. The interviews were conducted in the period January 11 to February 22, 2016.

posted from Bloggeroid

Flowers the most popular gift for moms in Singapore

Gift Flowers Singapore's survey on how much Singaporeans intend to spend on their mothers this Mother's Day puts the budget at above S$20. The online florist is headquartered in Hong Kong and recently expanded into Singapore and Kuala Lumpur.

Over a third of the respondents surveyed said they would spend between S$20 and S$100 (38%) while 54% said they would spend between S$100 and S$200 on their mother. A minority (8%) said they would spend more than S$200.

Most will buy flowers

Flowers remain the most popular gift for Mother's Day, with 46% of respondents opting for them. This is closely followed by taking their mother out for a meal at 30%. Other popular gifts include jewellery (7%) and electronics (7%).

How consumers will shop

Almost eight in 10 (77%) of respondents said they would purchase gifts for their mothers online. Nearly half (46%) estimated they would spend between one and three hours shopping for Mother's Day presents this year. Another 14% said they would spend more than three hours shopping, and a third (30%) - either pressed for time or having already decided on the gift - said they would spend an hour or less.

The florist added that it is a myth that daughters will celebrate Mother's Day more often than sons. Sons will spend just as much on Mother's Day as the daughters, the survey revealed.

https://giftflowers.com.sg.

posted from Bloggeroid

Browse Archaeological Survey of India exhibits online

Source: Google Cultural Institute. A 360-degree exploration of the Taj Mahal is available at the Archaeological Survey of India minisite at the Google Cultural Institute.

The Archaeological Survey of India is part of the Google Cultural Institute, enabling Internet users to view historical photographs of various landmarks online, including photographs of the Taj Mahal from the late 1800s up to the present day, views of various mosques, including the Qutubuddin Mosque and the Moti Masjid, and several perspectives of Humayun's Tomb.

The Archaeological Survey of India (ASI), under the Ministry of Culture of India, is the premier organisation for archaeological research and the protection of the nation's cultural heritage.

Interested?

Visit the Archaeological Survey of India at the Google Cultural Institute, including the 360 degree museum views of the Taj Mahal

Read the Suroor Asia blog post on the al Sabah Collection at the Google Cultural Institute

National Bonds survey shows 17% of UAE nationals have takaful insurance

National Bonds, the shari'ah-compliant savings and investments company in the UAE, has announced the latest results of its ongoing financial health check survey*.

Source: National Bonds.

Findings indicate that 36% of UAE nationals save for a major purchase, while 34% save to buy a house and 24% save for retirement. However, only 7% save for their children’s education. As for other nationalities, 37% save to buy a house and 35% for retirement while 18% save for a major purchase and only 10% save for education. 

 
In additional findings, 56% of UAE nationals said they make monthly payments towards personal loans, 32% are settling credit card debts, while 12% are paying off mortgages. As for other nationalities in the UAE, the survey found 50% of the respondents are paying off personal loans, while 38% make credit card payments, and 13% are settling mortgages.

The results also indicate that 20% of UAE nationals among the respondents usually save monthly, as opposed to only 11% of single UAE nationals. Additionally, 52% of UAE-based women from all other nationalities do not have an emergency fund, against 6% of female UAE nationals who do. Further, 17% of UAE nationals said they have takaful insurance, compared to 14% of respondents from all other nationalities said they do.

Mohammed Qasim Al Ali, CEO, National Bonds Corporation, said: “Five months since our last financial health check, we are observing a major shift in our savers’ financial behaviour. We are happy to note that saving for retirement and homes is gaining precedence among customers of all nationalities. However, debts due to personal loans and credit cards remain the biggest challenge. We at National Bonds are well aware that bad habits die hard. This is why we offer a comprehensive financial planning strategy that helps customers achieve a balance between their needs and wants, their budgets and liabilities.”

Highlighting the low numbers of savers with takaful insurance across all nationalities including UAE nationals, Al Ali explained: “The significance of takaful does not only lie in being a means of protection against an uncertain future incurred through job and income loss. It serves as an expression of social and Islamic culture - reflecting its inherent values such as cooperation, solidarity and partnership even while ensuring a safe and sustainable future for all segments of society without discrimination.”

Takaful can also be a key to resolving the problems relating to Emiratisation policies in the private sector, where the advantages are less compared to the public sector. Thus, takaful is an effective alternative that provides financial security to the employee and his family. Takaful insurance is also expected to be one of the main drivers for financing development and ensuring stability of the financial sector.

The CEO of National Bonds also highlighted the debts paid by the majority of savers against personal loans and credit cards and said: “Despite the increased awareness today about the importance of savings and the burden of debt, the credit card culture continues to weigh heavily on many people, draining their income and severely impacting their financial security and the future of their children. The issue of debt is more related to habit than need if we consider the high income levels of individuals and consumption trends in society. This habit is reinforced by excessive consumption associated with earlier economic phases, but the same habits may not be appropriate for the upcoming economic phase if recession and its related challenges continue to adversely impact the global economy.”

National Bonds has created a number of innovative tools to encourage regular saving among bondholders. Of these, the new myPlan Rewards Program launched in August 2015 with the aim of encouraging customers to commit to a monthly savings plan is gaining popularity among bondholders that are mindful of the challenges they might face in the future.

National Bonds advises that financial plans should cover more than just investments, including retirement, taxes, insurance takaful, cash flow and debt management.

*Designed by financial advisors at National Bonds, the financial health check was launched in February 2014 as an online tool to help customers assess their financial status and take corrective action towards achieving a more resilient financial future. To date, the survey has received responses from more than 1,000 customers across cultures and nationalities. Respondents fall within the 26 to 40 age group.

YouGov probes haze-related behaviour in Southeast Asia

Many Southeast Asian countries experienced significant haze – caused primarily by forest fires burning in the region - this year. According to a YouGov survey*, there was high awareness of the haze issue in Southeast Asia within the region.

Almost eight in 10 (78%) Asian people say they are aware of the haze caused by Indonesian landscape fires. Awareness was lowest in Hong Kong (at 48%) and Mainland China (at 44%), but in the three countries most affected by the haze (Indonesia, Malaysia, and Singapore), only 2% of respondents in each location claim not to know about the haze.

Mask-makers did well during this period. Two-thirds (65%) of those in Indonesia, Malaysia and Singapore wore a mask when the haze was present. Among those who chose not to wear a mask during the haze, 39% say that they don’t find it necessary, 38% think it’s uncomfortable to wear masks, and 18% think that the mask cannot protect them from the pollution anyway.

Among those who are aware of the haze, 58% of them think palm oil companies setting their plantations on fire are a cause of the fires in Indonesia. Some 48% think the fires are caused by farmers setting their plantations on fire. And 44% think that dry weather causes the Indonesian fires.

When asked who they think is responsible for the resulting haze from the fires, with multiple answers possible, 63% of respondents said the palm oil plantation companies. An almost equal number, 62%, think it is the Indonesian Government. A smaller number, 18%, think it is the brands which use palm oil in their products that are responsible for the haze.

Two in every three people in Asia (67%) think the Indonesian government has not done enough to solve theproblem of the haze, believing the government can do more to reinforce the law regarding the use of fire to clear land for oil plantations. Within Indonesia itself, responses on this aspect are quite diverse: 45% believe the Indonesian government can do more to solve the haze problem, but 44% think their goverment has done enough by enacting legislation that prohibits illegal forest fires to clear land for farming.

YouGov also asked Asian respondents if any other regional country governments (or other parties) can do more to help solve the haze problem. Two thirds (65%) of Asian respondents think governments in other countries can do more in terms of investment in monitoring and enforcing existing bans on the use of fire as a method for land preparation. About half (51%) agree that companies using palm oil in their products should be able to verify that the palm oil used does not contribute to deforestation. 42% agree that consumers should also let manufacturers know that they want to know if the palm oil used in their products is grown on plantations free from deforestation.

Source: YouGov infographic.

One-in-five people (20%) in Indonesia, Malaysia and Singapore suffered health problems due to the haze. More than half (57%) of Indonesian, Malaysian, and Singaporean respondents said they stay at home more when there is haze. Only 13% said the haze had not affected their lifestyle in any way.

For 69% of people in Indonesia, Malaysia and Singapore, outdoor activities became less attractive. Four in 10 (41%) of them also said they spend less on travel and holidays because of the haze.

While 43% of respondents in the three countries most affected by haze haven’t had any visible health impact as a result of the haze, about one in three (32%) have suffered some haze-related health problems that they addressed themselves, while one in five (20%) suffered haze-related health problems for which they had to see a doctor.

When asked “If haze did not affect your country, how concerned would you be regarding this issue?”, more than half (52%) of respondents in these countries says that they would still care. Only 5% claim they would not care at all.

Upon hearing that the haze would continue on until early next year, 66% of respondents are disappointed, 54% are angry and 53% say they want to do something to help. Some 22% say in this situation, they will be resigned to fate.

Regarding the Pollutants Standard Index (PSI) readings or equivalent produced by the national environment authorities, 57% of respondents in Asia sees the readings as ‘somewhat’ or ‘very’ trustworthy. A quarter do not trust the readings and the remainder do not look at the PSI readings at all.

The haze has changed the travel behaviour of people in Asia Pacific. Almost seven in 10 (68%) say they would only visit cities/countries that remain unaffected by the haze. Only 7% of respondents would still visit the affected cities/countries and think the haze is not a problem. Another 18% would still visit the affected cities/countries due to business travel, family visits, or because they already paid for the trip.

In fact, regardless of the haze, Singapore is among the top five countries in the Asia Pacific region where respondents would want to visit the most:

1. Japan (50%),
2. Australia (43%),
3. New Zealand (38%),
4. Singapore (33%), and
5. Thailand (25%).

However, the above ranking doesn’t stay the same in some countries. In Mainland China, half of the respondents (50%) want to visit Singapore most, while over 50% of Malaysians want to travel to Australia most.

Interested?

View the full infographic

*YouGov polled 7,536 respondents online across Asia Pacific from 17 to 23 November 2015. All data was collected from YouGov panellists and weighted to be representative of the online population. 

Muslims and non-Muslims react very differently to news of the day

There is a perceptions mismatch about the concept of 'halal' between non-Muslims and Muslims, a study by UK-based Ethnic Focus has found. At the third unified session at the World Halal Summit (WHS) 2015 in Malaysia Dr Saber Khan, Managing Director, Ethnic Focus, said that non-Muslims and Muslims have completely different outlooks.

The survey of the attitudes of 7,000 non-Muslims and Muslims across 14 countries has found that 66% of non-Muslims have a negative reaction to the word 'halal' whereas 95% of Muslims have a positive reaction, Dr Saber said. Also, 93% of non-Muslims felt that their views of halal products were affected by news stories such as Charlie Hebdo or ISIS, while only 1% of Muslims were similarly affected.

“Since halal is becoming a global phenomenon, we need to be aware of what the world thinks of Halal now. With ISIS and so on being a presence in the media, this is needed more than ever before,” said Dr Saber.

On that note, a huge majority of non-Muslims strongly felt that the media is not at all biased against Islam and 79% of them felt that there was a connection between buying halal food and terrorism — while Muslims felt that these stories were strongly biased, and none felt that halal was linked with terrorism. Sixty-eight percent of non-Muslims felt that halal is anti-Western, while 93% of Muslims disagree.

As Internet penetration worldwide increases, the question “Would you buy Halal products online?” was posed to respondents. Only 2% of non-Muslims felt that they would, while 21% of Muslims would buy online. As for animal welfare, 70% of non-Muslims say that halal slaughtering is against animal welfare, with the remainder saying they don’t actually know. On the other hand, 91% of Muslims thought it preserved animal welfare.

“Polite society may not articulate all this, but the study shows that they still feel it,” said Dr Saber.
Rushdi Siddiqui, CEO of Zilzar Technology of Malaysia suggested that these perceptions are affected by negative media coverage which calls on an emotional connection.

“Perhaps there is a way we can focus more on the ethics of halal and Islam,” said Rushdi. “For example, on the upstream, explaining the humane aspects, in the midstream, that there are health benefits to humans when the blood is drained from the animal and so on. We need to become part of the conversation, and be proactive and have a role in the media.”

Moderator Abdalhamid Evans, Founder of HalalFocus and World Halal Summit Conference Director gave a similar example, like how packaging of organic products tells a story of how it is produced and its benefits, and perhaps this method can be used for halal products.

Navid Akhtar, CEO of UK company Alchemiya Media said there is much opportunity to realign perceptions. "There used to be only one room for one voice, like the BBC. Now there are alternative media. People need to see the celebration of our concepts,” he said.

All agreed that there is a massive market opportunity with over 400 million Muslims that are outside the Muslim world who are under 30. With rising per capita income, Internet penetration, smartphones and so on, these will be the customers in the next few decades, and they will be the ones who have the potential to change the narrative.

Hashtag: #WHS

APAC halal cosmetics and personal care market to grow 11% through to 2018

Research and Markets has introduced the Halal Cosmetics and Personal Care Market in the APAC Region 2014-2018 report, which predicts that the halal cosmetics and personal care market in the APAC region will grow at a CAGR of 11% from 2013 to 2018. 
 
One of the emerging trends in the market is the increase in awareness about the transdermal penetration of cosmetics. For instance, lipstick applied on the lips could be ingested and there are a few chemicals in such cosmetics and also in personal care products which can directly enter the blood stream. If such products contain any animal ingredients that are not permissible, then the penetration or ingestion of such products is a major concern for Muslim end-users. 

The growing number of Muslims in Asia Pacific, the primary consumers of halal products, is leading to an increase in the consumption of halal cosmetic and personal care products. The challenge comes with trying to obtain certification of products by credible bodies. 

Key regions covered include Malaysia, Indonesia, Pakistan, India, Bangladesh, Thailand, China, New Zealand and Australia. The major vendors in this space are INIKA Cosmetics, Ivy Beauty Corp., Martha Tilaar Group, and PT Paragon Technology and Innovation. Colgate-Palmolive, INGLOT, Jetaine Corp., Muslimah Manufacturing, Tanamera Tropical Spa and Wipro Unza Holdings are also discussed.

Crescentrating names top 10 halal friendly holiday destinations for 2014

For 2014, Malaysia, UAE and Turkey are the top three most halal friendly destinations which are Organization of Islamic Cooperation (OIC) members, while Singapore, South Africa and Thailand lead for the non-OIC category, says Crescentrating, a Singapore-based company that comments on halal travel. Both Malaysia and Singapore also topped the list the year before.

Crescentrating's fourth Ranking of Halal Friendly Holiday Destinations covers 60 destinations, against 50 the year before. The ranking is based on suitability as a family holiday destination, the level of services and facilities it provides for Muslim travellers and the marketing initiatives of the destination targeting this segment as the main criteria.
   
The company notes that the Muslim travel market was estimated to be worth US$140 billion in 2013, representing almost 13% of global travel expenditure, and commented that Indonesia has moved up to 4th position as a result of initiatives launched in the past 12 months to focus on the Muslim travel segment. 

"Japan has made the most improvement among the 60 destinations tracked. Japan released a travel guide for Muslim travellers last year. Recently some of the airports in Japan have also taken steps to improve their services by offering halal food and prayer rooms," said the company in a statement. 

	Top 10 Halal Friendly Destinations 2014 (OIC Destinations)	Top 10 Halal Friendly Destinations 2014 (non-OIC Destinations)
1	Malaysia	Singapore
2	United Arab Emirates	South Africa
3	Turkey	Thailand
4	Indonesia	United Kingdom
5	Saudi Arabia	Bosnia & Herzegovina
6	Morocco	India
7	Jordan	Hong Kong
8	Qatar	Germany
9	Tunisia	Australia
10	Egypt	Tanzania

An in-depth look at the rankings of all 60 destinations is available here.

Japan's Yokohama's tourism initatives targeted at Muslims are blogged here.