A quarter of respondents in Jordan have a positive outlook on the business conditions in the future, according to the most recent Bayt.com Middle East and North Africa Consumer Confidence Index survey, which was conducted by Bayt.com, the Middle East’s number one job site, and YouGov, a leading market research agency.
Country’s Economic Situation
14% of Jordan respondents believe that business conditions are either ‘good’ or ‘very good’, while34% believe that business conditions are ‘bad’. However, a quarter of respondents (25%) are largely optimistic about the future, expecting business conditions to ‘get better’ in a year’s time.
6% of Jordan respondents believe that the country’s economy has ‘improved’ in the last six months, while more than half of the respondents (57%) believe that it has ‘receded’.16% of Jordan respondents expect the economy to ‘improve’ in the next six months, compared to the40% of the respondents who expect it to ‘get worse’.
Personal Economic Situation
According to35% of respondents in Jordan, their financial situation is the ‘same as six months ago’;12% say it is ‘better’ than it was six months ago. The outlook is somewhat positive though: almost a third of respondents (32%) believe that their personal financial situation will ‘improve’ in the next six months. When it comes to the cost of living in the next six months,81% of respondents expect it to ‘increase’, while13% expect the cost of living to ‘remain the same’.
There are some respondents (8%) who claim that their savings have ‘increased’, while almost one in five respondents (18%) reveal that their savings have ‘remained the same’. Almost three quarters of Jordan respondents (73%) say that their savings have ‘decreased’ when compared to last year.
Consumer Spending in Jordan
27% of those surveyed in Jordan are planning to invest in a motor vehicle in the next12 months. Of those,19% are planning to buy a new vehicle, while half of the respondents (50%) are planning to buy a used one.62% of respondents in Jordan are not planning on purchasing a vehicle.
When it comes to investing in property,14% of respondents in Jordan are planning to invest in the next12 months. Of those who are planning to buy property,48% will invest in an ‘apartment’, while16% plan to buy a ‘villa/townhouse/bungalow’ and16% will purchase ‘commercial property’.32% of the respondents who are planning to invest in property in Jordan plan to buy ‘new’ property in the next12 months, while24% will invest in ‘pre-owned’ property.
Regarding consumer goods,14% of Jordan residents plan to purchase a ‘desktop or laptop’ in the next six months, while13% will invest in a ‘furniture’.13% of the respondents from Jordan are planning to buy ‘an air conditioner’ over the same period. A ‘tablet or smartphone’ (11%), ‘LCD or Plasma TV’ (10%) and refrigerator (9%) are also among the respondents’ list of priorities this year.
Current Job Perspective in Jordan
Presently,13% of respondents believe that there are plenty of jobs available in Jordan, with3% claiming availability across multiple industries and10% claiming availability across a limited number of industries.12% of Jordan respondents expect the job availability to ‘increase’ in the next six months.
16% of employed respondents feel that the number of employees in their company has ‘increased’ over the past six months, while nearly a half (48%) believe the opposite to be true. Over the course of the next six months, almost one in five (18%) of employed respondents in Jordan expect the number of employees in their organization to ‘increase’.
With regards to satisfaction levels,32% of employed respondents in Jordan are ‘satisfied’ with their career growth opportunities, and one in five respondents (20%) are satisfied with their current compensation. On the other hand,65% are dissatisfied with their current salary and allowances. When it comes to non-monetary benefits,37% of employed Jordan respondents are satisfied, while44% feel the opposite.38% of respondents employed in Jordan feel secure in their jobs.
“While the region as a whole has seen a relative dip in consumer confidence, future expectations amongst respondents remain positive and bright,” said Suhail Masri, VP of Employer Solutions, Bayt.com. “At Bayt.com there are currently more than10,000 jobs posted on the website on any given day. This augments the tremendous amount of recruitment that takes place via the Bayt.com CV Search functionality, for employers who prefer not to immediately advertise their pressing job vacancies, which recruiters can try for free on www.bayt.com/en/search-cv/. Jobseeker registration on our website is growing at over12,000 new professionals a day and continues to reflect a healthy appetite for jobs across the industrial and career spectrum. In an extra-competitive job market though, we advise professionals to enhance their visibility to employers by creating online profiles on Bayt.com and increasing their visibility on popular search engines. At Bayt.com, we always endeavor to empower the region’s job seekers and employers by providing them with the latest technology and most relevant tools and market insights related to recruitment.”
Elissavet Vraka, Research Manager, YouGov, said: “Gauging consumer opinion is a powerful tool for revealing the current attitudes and sentiments about the business and economic conditions in a specific country. Despite the positive outlook on the future, the rising cost of living is negatively impacting residents’ ability to save.”
Data for the Bayt.com Middle East and North Africa Consumer Confidence Index survey was collected online from January27 to February10,2016, with3,905 respondents from the UAE, KSA, Qatar, Oman, Kuwait, Bahrain, Syria, Jordan, Lebanon, Egypt, Morocco, Tunisia and Algeria. Males and females aged18 years old and above, of all nationalities, were included in the survey.