UAE residents 'keen to start their own businesses'

08/02/2011 - Dubai Investment News Posted by Neil King
UAE residents 'keen to start their own businesses'

More than half (51 per cent) of Gulf residents across the UAE, Saudi Arabia, Kuwait and Bahrain wish to start their own businesses, a consumer survey by Western Union has found.

The global payment services company said its research had also revealed that 20 per cent of such residents wanted to buy a house.

Results were based on responses to the question of how people would spend AED 100,000 should they win the grand prize for Western Union's ongoing "Send Money & Win Big" promotion.

"The Western Union promotion was developed with the aim of creating an impact on the lives of the people in the Gulf, which is considered to be one of the most entrepreneurial regions in the world," commented regional vice-president Sobia Rahman.

"The results of the Western Union survey corroborate this statement, illustrating that we are an enterprising, adventurous, risk taking and a business-minded lot."

Among the other findings, 14 per cent of respondents said they would like to spend the money on family, while ten per cent stated they would like to save it for future use.