Consumption Expenditures

The private consumption expenditure per capita (for each person) has risen to AED5,250 compared to AED4,650 during the same period last year. This is according to the leading newspaper Gulf News.

Despite a challenging period, the spending improved which helps the economy to keep afloat, as people's spending helps the providers of durable and non-durable goods and services and their employees.

This is one of the challenges of promoting artificial intelligence (AI) in businesses. The companies save a lot of costs utilizing machines instead of manpower. We read articles on robots replacing human resources like receptionists in the hotels, waitresses in the restaurants, etc. but those robots do not spend for goods and services, unlike human beings who do spend for themselves and their families, thereby helping the economic cycle, and pay taxes while spending (and earning, in other countries), so they help the government defray its expenses.

In the United Arab Emirates (UAE), there are more or less 600,000 overseas Filipinos who love to buy goods here then send to the Philippines those items Balikbayan boxes so cargo businesses flourish. Sometimes I see products made in the Philippines sold here at much lower prices than in the Philippine stores -- and I wonder why, maybe the traders here buy in big volume -- and the OFs buy and send back home.

There are many products on sale so it is very tempting to buy your needs and wants at much, much lower prices when you have the money. Online you can check deals, coupons and vouchers with 50 - 90% discounts.

Some supermarkets branching out here and there, and the owners thank the Filipino community. Filipinos love to eat and highly value family ties, so on days off and special occasions they gather together, cook foods and have fun in their bonding moments.

Other nationalities send more money home and let their families spend most of it there instead of sending items that can be bought here, and save. Many overseas Filipinos do, too, so they are called the new heroes as money remittances combined, help fuel economic growth, but they spend a lot here, too, and most of them do not have savings.

Spending money here is a way of paying back the country for the opportunities and public services including protection and infrastructures. Spending money here attracts investors and traders who help fuel the economy. Spending money here helps prevent or combat a recession.

In a crucial period, it matters to ask these --

Who else is not earning enough money to spend, to provide family needs and to save? There are still many of them for some reasons. What are those reasons? How can they be reached then swiftly and effectively be supported to rise again?

What are the obstacles barring those with entrepreneurial spirits to start or renew their trade licenses so they can create jobs and hire people for them to have sources of revenues?

How can all people of legal age be banked without many, many requirements, so they can enter the financial system, and legally do very safe online transactions (buy and/or sell)?

The common goal to be achieved here is to help create or provide sources of revenues so there will be improved spending as an economic growth engine.

When the roads are rough and times are tough, we have this question -- "How can I spend nor save when I do not have the money?" 

We must always remember that at the heart of difficulties and danger, there is an opportunity.  It is either we find it or we attract it.

Luke 12 : 24 says, "Consider the ravens: They do not sow or reap, they have no storeroom or barn; yet God feeds them. And how much more valuable you are than birds!"

We ask our Father in heaven for the resources we need so we can meet our needs. Philippians 4 : 6 reminds us --

Do not be anxious about anything, but in every situation, by prayer and petition, with thanksgiving, present your requests to God.

If AED5,250 is the average consumption expenditures per capita, how do those who earn less manage to survive, send money home, save and make a wise investment for passive income in the future?

May we passionately meet our consumption needs according to the riches of our God's glory.

---

Photo credits:  Pixabay