Emerging Affluent Study 2018 – Standard Chartered UAE

Emerging Affluent Study 2018

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The rise of the Emerging Affluent in the UAE

We spoke to 11,000 emerging affluent consumers across Asia, Africa and the Middle East (1,000 in the UAE), exploring their social mobility, financial proficiency and digital savviness. Discover more below.

Majority are socially mobile

59% of emerging affluent consumers across Asia, Africa and MiddleEast are socially mobile.
- 42% saw incomes increase by 10% or more in the last year
- 27% saw incomes increase by at least half in the last 5 years
- 85% went to university compared to 63% of their fathers and 54% of their mothers
- 77% are in management positions/running their own business
- 91% own their own home compared to 75% of their parents
Five Factors driving upward social mobility

The emerging affluent segment in the UAE is achieving more in their education, careers and businesses than their parents.
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- children’s education is the top saving priority
- 52% save using finianical products is how they’ll meet their goals/increase their wealth
- 55% say the most important sign of success is increasing personal wealth over time
- 66% say managing their finances effectively is key to greater social mobility
Better investment for a brighter future

Digital banking and wealth management tools can help the emerging affluent segment in the UAE to set and track their goals, provide portfolio performance reports and market commentary which help them to achieve them sooner.
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- 64% say familiarity with digital tools has been vital to their personal success
- 52% would invest in online financial products if an on-demand adviser was available
- 52% would accept higher risk for higher returns when robo-investing
Technology holds the key to financial success

Technology is a force for social mobility, allowing those who master it to improve their position in society and some are enjoying ‘supercharged’ mobility.
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Whether you’re at the beginning of your wealth journey or already on your way, contact us today. Ask about Premium Banking, designed especially for the emerging affluent.

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