Household debt of US$114 billion in UAE poses growing risk - Business Intelligence Middle East - bi-me.com - News, analysis, reports:
"UAE. Household debt poses a growing risk to the financial sector in the United Arab Emirates (UAE). As of June 2012, household debt totalled over US$114 billion, which translates to over US$95,000 in debt per household.
The problem of excessive lending is prevalent among youth, who feel social pressure to purchase luxury goods as status symbols in order to fit in.
A poll showed that 60% of UAE citizens spend a quarter or more of their monthly income on debt repayment obligations alone, posing a threat to consumption expenditures."
'via Blog this'
No comments:
Post a Comment