Wealth Monitor published an article discussing the key drivers of user demand for personal finance products in 2016, in the UAE and KSA. The analysis was based on Souqalmal.com’s findings, in collaboration with Crowd Analyzer.
2016 has been an eventful year for both, UAE and KSA residents. Regulatory changes and economic slowdown were some of the most heavily discussed topics in both countries. And personal finances of residents were not immune to these changes either.
To better understand user demand for personal finance products in the UAE and KSA, and the key drivers behind this, the Souqalmal.com team analyzed search-trends on our website over the course of 2016. They also went one step further and supplemented our in-house research with social media trends and statistics, in collaboration with Crowd Analyzer, an established social media monitoring platform.
Demand slows down, but personal loans are still the ‘Most Popular’ product category
Visits to Souqalmal.com’s UAE personal loan pages grew by 72 percent year-on-year in 2016, significantly lower than the 125 percent jump recorded in 2015. Regardless, personal loans still retain the largest share (40 percent) of visits among all banking product categories.
For full article go to Wealth Monitor.