A whopping 80 per cent of Filipinos in the UAE said they are keen to invest within 12 months, buoyed by higher income and better financial literacy.
The survey of 3,800 respondents, who mostly fall under the millennial group (84 per cent) and have been staying in the UAE for more than 6 years now (79 per cent), was analysed based on three component indicators of consumer confidence, namely: income, stability and investment.
Their top investment preferences are property (61 per cent), entrepreneurship (58 per cent), life insurance (37 per cent) and mutual funds (32 per cent).
This is according to a survey commissioned by New Perspective Media Group, organiser of Philippine Property and Investment Exhibition (PPIE) 2022.
The 8th edition of the Philippines’ largest international investment and property show will be held at Crowne Plaza Hotel in Sheikh Zayed Dubai this weekend, November 5 and 6.
Big leap in salary
The PPIE survey showed that 63 per cent of respondents experienced a significant increase in their salary over the last five years since 2018, demonstrating a big purchasing power boost.
The pay rise among respondents reflects the UAE’s robust economy, which is projected to record its strongest annual expansion since 2011 following 8.2 per cent increase in the first three months of 2022, as per the Central Bank of the UAE.
Of the total survey respondents, 45 per cent are in the salary bracket of AED5,001-10,000; 8 per cent are in the AED10,001-20,000 bracket; 3 per cent are in the AED20,001-40,000 bracket; while 2 per cent are receiving above AED40,000 income.
Better financial literacy, more diversified assets
The survey results showed that 76 per cent are now more financially knowledgeable than five years ago (2018-2022) – aware of how inflation works in the overall economic cycle and more curious about capital appreciation.
Despite the global economic blow of the pandemic, 68 per cent said they are financially stable or more financially stable today than five years ago.
The study showed that currently OFWs’ asset portfolio includes gold and diamond (42 per cent), real estate/property (34 per cent), life insurance (32 per cent), mutual funds (18 per cent) and own business (11 per cent).
Dr Karen Remo, Founder and CEO of New Perspective Media Group, said: “The Philippines has been coined as the ‘Rising Star of the Real Estate Market’ in Asia, thanks to the country’s consistently positive asset appreciation and rental income. Demand for property is likewise anticipated to remain strong among overseas Filipinos especially in the UAE, boosted by the host country’s sweeping visa reforms which now allow long-term residency and employment stability. PPIE 2022 makes it easier for Filipinos and foreign investors in the UAE to find properties that suit their tastes. This is a platform that gathers the Philippines’ real property heavyweights under one roof and brings them closer to their target market.”
Vince Ang, Chief Operating Officer at New Perspective Media, said: “The return of PPIE in Dubai is a clear indication of a vibrant Philippine property sector and the burgeoning purchasing power of Filipinos in the UAE. It is also a testament to our relentless endeavour for nearly a decade now to empower them with essential ways to invest their hard-earned money for a better, brighter future for themselves and their family even after their retirement. We are optimistic that through PPIE, we can contribute to our economy by encouraging more OFWs and foreign nationals to choose the Philippines as their top investment destination of choice.”
PPIE 2022 will be participated in by RLC Residence as Gold Sponsor and Federal Land, Greenfield Development Corporation, Double Dragon and Ayala Land as Silver Sponsors. Exhibitors include Hausland, DMCI, Sta. Lucia, Bank of the Philippine Islands, and New Perspective Marketing International Inc’s new ventures — REMATA, a value-for-money real estate marketplace and PisoPal, a personal savings and investment app specifically made for beginners in investment.
An array of real properties and business solutions and services—from Philippines leading property developers to banks, insurance companies, government-backed financial, investment and savings institutions, e-commerce, and money remittance centres—await attendees at this free event.
Industry experts and CEOs of top property developers will deliver keynote speeches at various forums, featuring topics such as property investment and savings options for OFWs, government loans and business opportunities for OFWs, and self-development talks, among others.
Various UAE-based organisations and schools including Al Alfiah Filipino Private School, The Philippine Global School, New Filipino Private School, and Far Eastern Private School will also join the event.
As the most trusted Philippine business and investment forum in the Middle East, PPIE 2022 made history in the Gulf region by bringing in over 24,500 quality visitors during its past seven editions.
Participants may register for free at ppie.ae
