97% Of UAE’s HNWIs Use Social Media

Nearly three-quarters of the UAE’s high net worth individuals (HNWIs) prefer LinkedIn to any other social media site, new research has shown.

With 97 per cent of the emirates’ HNWIs on social media, 73 per cent of them use LinkedIn more than Facebook (72 per cent) YouTube (63 per cent) and Twitter (29 per cent).

The study by the professional networking site also found that 92 per cent of its affluent users log-on several times a week. The research showed 77 per cent access their LinkedIn sites from tablet devices and 74 per cent from smartphones.

The study said: “High Net Worth Individuals in the UAE are increasingly engaging with social media for financial purposes – representing a significant opportunity for finance marketers to build relationships.”

The research showed 78 per cent of the UAE’s HNWIs use social media for at least one financial purpose, with 74 per cent using it to keep abreast of current financial trends and 71 per cent to research products, policies and institutions.

“Besides connecting with colleagues and creating professional content, the country’s affluent LinkedIn members nominate following experts, influencers and brands as amongst their top reasons for using the platform,” the report added.

“The expertise that they find on LinkedIn guides both personal and business decision-making – and has a particular influence over how they choose to invest their own money.”