Consumers in Qatar forecast a better financial climate and economy with improved business conditions and more jobs available, according to Caye Global survey.
“For the year to come, expectations are high, as ever. More than half (55%) believe that their personal financial situation will improve. Also expected to improve are the country’s economy (50%), business conditions (55%) and employment conditions, with 54% stating there will be more jobs available,” said the latest Middle East and North Africa Consumer Confidence Index Survey.
While 36% of Qatar respondents believe that there are more employees in their company now than there were at this time last year; 55% claim that there are the same or fewer, it said.
The majority (58%) held that their salary had not kept pace with the cost of living, the survey said, adding respondents from Qatar also felt that their current personal financial situation had mostly remained the same (40%).
Feelings towards the country’s economy are mostly neutral (39%), and it is considered to be a neutral time to buy according to 49%. In line with this, 39% of respondents state that business conditions are neutral, while 64% state that there are “not many” or “very few” jobs available, according to the survey.
In general across the Middle East and North Africa region, feelings for respondents’ personal situations are neutral. Only 28% claim that their financial situation is better than last year, compared to 65% who state that it has either remained the same or declined.
Job satisfaction in Qatar is considered to be mostly neutral to low, with only 15% believing that the career prospects in their current job are high, while 34% state that the opportunities for career growth are low.
The majority (72%) claim neutral to low satisfaction with their job security, and almost half (46%) are unhappy with their current compensation, it added.
More than 38% of Qatar respondents anticipate no change in the number of employees at their current company in the coming three months, with 39% being “neutral” with the prospect of keeping up with staffing requirements.
Respondents anticipate a mostly neutral-to-negative impact vis-a-vis the cost of living (63%); they also believe that accommodation costs will either stay the same or rise (64%), according to it.
“In the next 12 months, 31% of Qatar respondents are considering purchasing a vehicle; of these, 38% will buy new. Within the same timeframe, 22% said they will consider buying property, 60% of whom will purchase a new property,” the survey found.
The three most popular consumer purchases for the next six months will be desktop or laptop computers (27%); furniture (20%) and LCD or plasma televisions (15%).
Source: Caye Global
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