Bayt's quarterly released CCI Survey showed exponential indice improvement across most of the surveyed countries in the Middle East. Bayt has compiled the report below to enable you to track changes compared to the last wave, which was conducted in June 2009. Enjoy the read!
A) Difference in Index By Country: compared to June 2009
- The UAE is still showing strong signs of a recovery (positive increase in all indices) – Kuwait, Qatar and have the strongest recovery indices since the last wave.
- Lebanon is showing a slight dip in its CCI and its ECI while Algeria is showing a dip in its PCI and ECI. All other surveyed countries are showing improvements- to varying extents.
B) Appraisal of Present Situation & Regional Highlights - Vis a Vis Financial Situation & Country’s Economy:
- UAE and Jordan are still the most pessimistic Vis-a-Vis financial position (with 40% and 39% of professionals respectively stating they are doing worse than last year).
- Qatar, Egypt and Algeria are the most optimistic Vis-a-Vis financial position (with 35% , 32% and another 32% of professionals stating they are doing better than last year).
- Jordan and Egypt are still the most pessimistic Vis-a-Vis Current Economy (with 39% and 34% of professionals respectively stating it is doing worse than 3 months back- their figures have however improved since the last CCI wave)
- Kuwait is the most optimistic Vis-a-Vis Current Economy (with 30% of respondents stating it is doing better than 3 months back).
- Vis a Vis Consumer Behavior:
- Professionals across the region in general still agree now is not the best time to buy durable goods.
- Most inclined to buy goods are professionals in Kuwait (at 26%) followed by professionals in the UAE (at 25%). Professionals most convinced the time is not convenient to consume durable goods are professionals in Jordan (at an overwhelming 50%) followed by professionals in Morocco (at 49%).
- Vis a Vis Business Conditions:
- Kuwait is the most pessimistic Vis-à-vis Business Conditions (with 49% of professionals stating business conditions are bad).
- Algeria followed by Lebanon are the most optimistic Vis-à-vis Business Conditions (with 32% and 30% of professionals, respectively, stating business conditions are good).
- Vis à Vis Employment Market:
- Professionals in all countries are still reporting low availability of jobs (despite a slow improvement), mostly professionals in Morocco ( at 56%),professionals in Lebanon (at 55%) and professionals in Jordan (at 54%) stating there are very few jobs available.
- Qatar, closely followed by KSA are the most optimistic Vis à Vis Employment Market ( with 21% Qatar Professionals and 20% of KSA Professionals stating there are many jobs available)
- Salary vis-à-vis Cost of Living:
- Professionals in all countries still agree salaries are not keeping pace with the cost of living, mostly professionals in Jordan and professionals in Bahrain (with 68% and 67% of them respectively stating that their salaries have not kept pace with their cost of living).
C) Future Expectations & Regional Highlights:
- Expectations of future financial position are still showing an upward trend across all surveyed countries: Professionals in Qatar, KSA and Egypt are the most optimistic (with 51%,50% and 49% respectively stating they believe their situation will be better in a year’s time)
- Professionals in Kuwait, professionals in the UAE and professionals in KSA are the most optimistic vis-à-vis country’s economy (with 51%, 49% and 47% respectively stating they believe the economy will get better in a year’s time) while professionals in both Egypt and Jordan remain the least optimistic (with 29% and 28% of them respectively stating things will get worse next year).
-Professionals in Qatar, professionals in Kuwait and professionals in the UAE are the most optimistic vis-à-vis future business conditions (with 57%,56% and 55% believing business conditions will be better in a year’s time), while professionals in Jordan and professionals in Egypt are the least optimistic (with 17% and 15% believing they will get worse).
-Qatar professionals, Kuwait professionals and the UAE professionals are also the most optimistic vis-à-vis future employment market (with 43%, 42% and 40% of them stating employment market will get better in a year’s time), while Jordan professionals and Egypt professionals are also the least optimistic (with 34% of them in each county believing they will get worse).
D) Links:
-To Research Report: https://www.bayt.com/en/blog/27084/the-bayt-com-middle-east-consumer-confidence-index-september-2009/
