A recent study conducted by the research company YouGov on behalf of the international Zurich Insurance company in the Middle East showed that three out of four workers in the UAE (75%) expect to receive financial bonuses by 2025. This comes at a time when there is an increase in demand for savings and investments instead of consumer spending.
According to the results of the research, 68% of participants plan to save part or all of their bonuses. Young generations identify themselves as disciplined savers, with 31% of Generation Z, in the age group of 18-24 years, planning to save their bonuses entirely, which is the highest indicator among all age groups.
On the other hand, 52% of people over the age of 45 plan to save a larger part of their bonuses, reserving part for expenditures. The rising cost of living has influenced how employees manage their income, with 55% of research participants indicating that it significantly affected their financial decisions.
At the same time, about 60% plan to spend part of their bonuses on travel and entertainment, while 27% prioritize skill development, including training in artificial intelligence.
The study also indicates that financial literacy remains a major challenge, despite the growing trend towards saving, noting that 55% of participants strive to obtain financial consultations compared to 39% in 2024. Some of them expressed regret about not starting to save earlier.
It has also been shown that with the help of organized financial consultation, confidence in retirement readiness increases to 86% among those who sought advice from financial experts, compared to 60% among those who did not. Confidence in financial security varies depending on the age category.
77% of participants believe that they need 2 to 5 million dirhams for a comfortable retirement in the UAE, with the average estimated amount being from 2 to 5 million dirhams. And 65% believe that saved funds at the workplace or deferred payments upon completion of the work tenure should be sufficient.
Ashika Taylor, the head of the business development department and employee engagement at the international Zurich Insurance company in the Middle East, noted: "The research indicates a significant change in the approach of employees in the UAE to financial planning, with more people prioritizing future investments, child education, and retirement savings."
