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Saturday, November 28 - 2009

Dubai a city of strivers, Barclays survey finds

  • United Arab Emirates: Monday, January 29 - 2007 at 13:40
  • PRESS RELEASE

Financial security trumps physical wellbeing as a priority for Dubai residents, according to a new Barclays survey of New Year's resolutions in the emirate.

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Establishing roots here - by buying a home or starting a business - also rates higher than early retirement or returning home.

Nearly 45 per cent of the Dubai residents surveyed in Barclays January poll said their personal resolution was to sort out their financial future, ahead of the 42 per cent who listed getting fit as their top resolution. Losing weight and enjoying life more also fell behind the money trail, racking up 38 per cent and 37 per cent respectively.

The survey also uncovered plenty of good news for the emirate's economic planners and real estate and banking specialists. More than 56 per cent of respondents plan to either buy an apartment or villa in Dubai, or start a business here. Only six per cent of the expatriate respondents have a plan to return to their home country.

Saving money also continues to be a top priority, with almost 53 per cent choosing it as the single most popular financial resolution for the coming year.

"The survey findings confirm what we've felt all along: That Dubai is a city of ambitious strivers who want the best life has to offer, and are willing to work hard to get it," said Martin Kensett, Sales Leader UAE, Barclays Wealth. "Financial security opens doors and expands horizons, and those of us trusted with personal finances have a responsibility to helping our clients achieve their goals."

"At Barclays Wealth, our success is based on our customers, and understanding their needs is the key," Kensett said. "That's why we focus our approach on personal advice and work closely with our customers in order to manage their wealth successfully."

On a lighter note, 54 per cent of those surveyed said they had trouble keeping New Year's resolutions - either because they didn't have the time, or didn't know how to get started.

Skydiving, diving, changing jobs, spending more time on the beach and building family ties also featured prominently in the list of New Year resolutions. The January poll was e-mailed to 750 Dubai-based adults.
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Notes and media contacts

Poll background:
The January poll was e-mailed to 750 expatriate adults based in Dubai, and achieved a response rate of 15 per cent. Respondents were between 30 to 45 years old, and primarily middle managers and small business owners.

About Barclays Wealth:
Barclays Wealth was adjudged to be the UK's leading Wealth Manager in 2006 for the second year running by PAM (Private Asset Managers) and has £84.7bn assets under management globally (H1 2006). Barclays Wealth is made up of four business units - international and private banking, financial planning, investment services and brokerage. It provides customers with a comprehensive range of solutions to meet their wealth management needs, in the UK and overseas. Thomas L. Kalaris is the Chief Executive of Barclays Wealth and he joined the business at the start of 2006.

This further reflects our stated intentions to increase the scale of our operations in the Middle East. The appointment of Soha Nashaat as Head of Middle East, Barclays Wealth in 2006 was a significant new appointment for Barclays Wealth in the region, and we will share further updates in due course.

For further information please contact:
Florence Goodman, Head of Public Relations and Corporate Affairs UAE
Tel: +9714 3626785
Mobile : +97150 651 0871

Barclays Wealth London
Caroline Wells, PR Manager, Barclays Wealth Management
Tel: + 44 20 7114 7435
Mobile: + 44 7766 362715

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