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Middle East Consumer Confidence Index Launched

June 12 2007
Polling firm YouGovSiraj has launched a new consumer confidence index for the Middle East, in partnership with Dubai-based job site, Bayt.com.

The first wave of the online survey questioned more than 8,800 people across the GCC, Levant and North Africa regions, and explored respondents’ attitudes towards their financial and job situations, their likelihood to purchase and invest, and the region's employment market.

The survey uncovered a broad range of attitudes depending on country of residence, nationality, type of organisation and income bracket. Rabea Ataya, CEO, Bayt.com said that consumers were generally content with their current financial situations, with many expressing increased confidence about the region's future prospects.

Results include:
  • Those working for multinational companies in the region are more optimistic about their financial prospects than those employed by local companies
  • Levels of consumer confidence are highest in Qatar, Saudi Arabia, with 40% of respondents claiming their financial position had improved over the past year
  • In the UAE and Saudi Arabia, 56% and 53% respectively agreed that current business conditions were good
  • Despite cost of living and inflation concerns, 34% said they are planning to buy a vehicle in the next year, and 60% of these will opt for a new one.
Commenting on the Bayt.com survey, Joanna Longworth, Chief Marketing Officer YouGovSiraj said: ‘We are confident that our Consumer Confidence Index portrays an accurate and compelling picture of current trends, and equally confident that it will become a valuable resource for economists, business leaders, recruitment agencies and the general public.’

The index will be conducted on a quarterly basis and the results will be online at www.Bayt.com . The partnership will also produce regional salary surveys and other careers-related stats.

UK online polling agency, YouGov acquired Siraj Marketing Research last summer and the firm launched a new omnibus service in January this year (www.mrweb.com/drno/news6311.htm ). YouGov is online at www.yougov.com .