DOHA: About 51 percent of respondents in Qatar share a positive sentiment that their personal financial position will improve in the next six months, while 70 percent expect the cost of living to increase within the period, a Bayt.com and YouGov survey shows.
The Consumer Confidence Index survey in the Middle East and North Africa (Mena) reveals that 17 percent of respondents feel that their personal financial situation has improved, compared to six months ago.
However, for 39 percent it has remained the same and 37 percent say their situation has declined. This has affected savings of 58 percent who report seeing a decrease in their savings compared to last year.
About 39 percent are optimistic that in the next six months things will get better though 78 percent anticipate the cost of living to increase.
In Qatar, 30 percent report that their financial position has improved in the last six months, while 32 percent say there has been no change, and 31 percent have seen a decline. Almost 45 percent say their savings have dropped compared to 12 months ago.
The economy’s outlook is positive, with 51 percent anticipating their financial situation to change for the better within the coming six months, despite the expected increase in cost of living within the same period by 70 percent.
Of 41 percent considering buying a vehicle for personal use in the next one year, 50 percent would prefer a used vehicle and 31 percent plan to invest in property within the next one year. Among property investors, 52 percent will look for new properties, and 44 percent will prefer apartments.
Respondents in Qatar are interested in buying desktop or laptop (29 percent), furniture (26 percent) and LCD or plasma TV (18 percent) in the next six months.
About 30 percent of respondents in Mena plan to buy a vehicle for personal use in the next one year, with 49 percent preferring a used vehicle and 44 percent will seek a new one.
Nearly 19 percent of respondents plan to invest in property within the same period, with new apartments being the most popular consideration.
The top three consumer goods respondents plan to buy include desktop or laptop (26 percent), furniture (18 percent) and LCD or plasma TV (16 percent).
The Peninsula
