Sunday 18 April 2021

Saudi Arabia ranks global 2nd in consumer confidence

RIYADH, 9 days ago

Saudi Arabia has ranked second world-wide in the Consumer Confidence Index for March 2021, which measures the current and future status of 23 global markets, a media report said.

The Kingdom scored 61.4 points in the Ipsos consumer confidence index, i. e, "15.7 points higher than the global average of 45.7 points," coming after China, which topped the list for months, and ahead of the world's major markets of Sweden, India, Australia, the US, Germany, Britain, Canada, Belgium and France, reported Saudi Press Agency (SPA).

The survey measures four basic indicators: trends in the local economy, investment environment in the country, personal financial capabilities of consumers and general job security.

The index result reflects the high confidence of the Saudi consumer in the national economy, optimism, its positive outlook, procurement process and the intentions of spending and investment.

The Kingdom achieved a quantum leap from the 38th to the second place last year in the consumer price index according to the IMD Global Competitiveness Yearbook report.


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