ABU DHABI // With a black Nike bag in hand, Abdullah al Hashemi and his older brother, Abubakr, strolled through Al Wahda Mall, stopping at various stores.
It was a typical summer afternoon in Abu Dhabi for the two brothers, 15 and 16. Shopping, Abdullah said, was a favourite pastime of Emirati teenagers.
Perhaps it should not come as a surprise that the country with the largest shopping mall in the world is also home to some of the biggest spenders too.
A report released in May by the Dubai-based market research firm AMRB and its international counterpart TRU found that UAE teenagers spent more than triple the global average.
On average, 12- to 19-year-olds here spent US$71 (Dh260) a week compared with an international average of $21. The only teenagers in the world who spent as much were Norwegians.
The study, which looked at the lifestyles of teenagers across 23 countries worldwide, included three Arab countries - the UAE, Saudi Arabia and Egypt.
It found that UAE teenagers were much like those anywhere else - they spent a lot of time online visiting websites such as Facebook and blogs. Celebrity culture and music were also a major pastime. But spending set them apart from teenagers elsewhere in the world.
"Emirati teenagers are very heavy spenders and a marketer's delight," said Abhijoy Choudhury, the project director at AMRB.
At $46 a week, teenagers in neighbouring Saudi Arabia spent far less than Emirati teens.
Clothing was one of the highest expenditures.
"What they wear helps them express their individuality and gives them a chance to stand out in the largely conformist society that we see here," Mr Choudhury said.
"Although they have to follow their culture by wearing abayas and ensuring that there is not much exposure, beneath those abayas, however, they are wearing the latest brands," Mr Choudhury said.
"They have found ways in which they can wear what they aspire to wear, modern clothes, trendy clothes, they wear it. But it does not conflict with what the culture demands."
Emirati teenagers were also less likely to earn their spending money themselves and were less likely to save. While Egyptian teenagers spent all of their $6 allowance, teenagers in India saved a third of the $3 that their parents gave them.
"What we saw from our study is that parents are the key source of income for the teenagers here," Mr Choudhury said. "About 90 per cent here get their money from their family compared to 79 per cent globally."
Mr Choudhury attributed high spending to the affluence of the Emirati community.
"The real reason behind high spending in a country like the UAE is that the affluence level of the local families compared to that of their global counterparts is extremely high. UAE teenagers are a huge beneficiary of the nation's economic expansion. This is one of the wealthiest countries in the world," Mr Choudhury said.
"Exposure to the western world with regards to the latest products or services or brands has heightened aspirations of the local Emirati teen."
The study also found key differences in spending habits between the genders. Girls outspent boys by almost 20 per cent. They spent more on clothing and make-up, while boys spent more on electronics.
"On average, Emirati girls spend double what boys spend on health and beauty products, and they definitely spend a lot more than their global counterparts. The other area where they dominate spending is clothing and apparel, but boys are not that far behind," Mr Choudhury said.
The study also found that Emirati teenagers spent $25 a month on cosmetics, compared with a global average of $6. They preferred smartphones over mobile phones, which they felt were "passé". A quarter of Emirati teenagers owned smartphones compared with 11 per cent globally.
Mariam al Ali, 16, said she spent most of her weekly allowance on clothes and accessories. On average, Mariam spends about Dh500 a week. She said the mall played a major role in the life of young people here. "You can socialise with your friends, relax, shop or just hang out," she said.
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THE%20SPECS
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The%20specs%20
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Indoor cricket in a nutshell
Indoor Cricket World Cup – Sep 16-20, Insportz, Dubai
16 Indoor cricket matches are 16 overs per side
8 There are eight players per team
9 There have been nine Indoor Cricket World Cups for men. Australia have won every one.
5 Five runs are deducted from the score when a wickets falls
4 Batsmen bat in pairs, facing four overs per partnership
Scoring In indoor cricket, runs are scored by way of both physical and bonus runs. Physical runs are scored by both batsmen completing a run from one crease to the other. Bonus runs are scored when the ball hits a net in different zones, but only when at least one physical run is score.
Zones
A Front net, behind the striker and wicketkeeper: 0 runs
B Side nets, between the striker and halfway down the pitch: 1 run
C Side nets between halfway and the bowlers end: 2 runs
D Back net: 4 runs on the bounce, 6 runs on the full
What are the GCSE grade equivalents?
- Grade 9 = above an A*
- Grade 8 = between grades A* and A
- Grade 7 = grade A
- Grade 6 = just above a grade B
- Grade 5 = between grades B and C
- Grade 4 = grade C
- Grade 3 = between grades D and E
- Grade 2 = between grades E and F
- Grade 1 = between grades F and G
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Name: Dr Hassan Mohsen Elhais
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THE SPECS
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ABU%20DHABI'S%20KEY%20TOURISM%20GOALS%3A%20BY%20THE%20NUMBERS
%3Cp%3EBy%202030%2C%20Abu%20Dhabi%20aims%20to%20achieve%3A%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3E%E2%80%A2%2039.3%20million%20visitors%2C%3C%2Fstrong%3E%20nearly%2064%25%20up%20from%202023%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3E%E2%80%A2%20Dh90%20billion%20contribution%20to%20GDP%2C%3C%2Fstrong%3E%20about%2084%25%20more%20than%20Dh49%20billion%20in%202023%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3E%E2%80%A2%20178%2C000%20new%20jobs%2C%3C%2Fstrong%3E%20bringing%20the%20total%20to%20about%20366%2C000%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3E%E2%80%A2%2052%2C000%20hotel%20rooms%2C%3C%2Fstrong%3E%20up%2053%25%20from%2034%2C000%20in%202023%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3E%E2%80%A2%207.2%20million%20international%20visitors%2C%3C%2Fstrong%3E%20almost%2090%25%20higher%20compared%20to%202023's%203.8%20million%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3E%E2%80%A2%203.9%20international%20overnight%20hotel%20stays%2C%3C%2Fstrong%3E%2022%25%20more%20from%203.2%20nights%20in%202023%3C%2Fp%3E%0A
Dr Afridi's warning signs of digital addiction
Spending an excessive amount of time on the phone.
Neglecting personal, social, or academic responsibilities.
Losing interest in other activities or hobbies that were once enjoyed.
Having withdrawal symptoms like feeling anxious, restless, or upset when the technology is not available.
Experiencing sleep disturbances or changes in sleep patterns.
What are the guidelines?
Under 18 months: Avoid screen time altogether, except for video chatting with family.
Aged 18-24 months: If screens are introduced, it should be high-quality content watched with a caregiver to help the child understand what they are seeing.
Aged 2-5 years: Limit to one-hour per day of high-quality programming, with co-viewing whenever possible.
Aged 6-12 years: Set consistent limits on screen time to ensure it does not interfere with sleep, physical activity, or social interactions.
Teenagers: Encourage a balanced approach – screens should not replace sleep, exercise, or face-to-face socialisation.
Source: American Paediatric Association
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
Skewed figures
In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.
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THE BIO
Favourite book: ‘Purpose Driven Life’ by Rick Warren
Favourite travel destination: Switzerland
Hobbies: Travelling and following motivational speeches and speakers
Favourite place in UAE: Dubai Museum
