35pc Bahrain employees expect economy to improve
MANAMA, March 14, 2016
About 35 per cent employee respondents of a survey in Bahrain expect business conditions to improve in the next year, according to a Bayt.com and YouGov survey.
The Bayt.com survey titled ‘Middle East and North Africa Consumer Confidence Index,’ which was conducted jointly with market research agency YouGov, pointed out that about 22 per cent of respondents have a very positive outlook on the future of the economy in Bahrain.
According to 39 per cent of respondents, their financial situation is the ‘same as six months ago.’
On the other hand, 13 per cent said it is ‘better’ now than it was six months ago, while 42 per cent claim that it is ‘worse.’
About 30 per cent of respondents believed that their personal financial situation will ‘improve’ in the next six months, while 32 per cent said that it will ‘remain the same as it is now’.
When it comes to the cost of living in the next six months, 85 per cent of respondents expect it to increase, while four per cent expect the cost of living to remain the same.
About 21 per cent of those surveyed in Bahrain are planning to invest in a motor vehicle in the next 12 months. Of those, 37 per cent are planning to buy a new vehicle, while 31 per cent are planning to buy a used one.
With regards to investing in property, about 20 per cent are planning to invest in the next 12 months.
Regarding consumer goods, about 24 per cent of Bahrain residents plan to purchase a ‘tablet or smartphone’ in the next six months, while 22 per cent will invest in ‘furniture.’
Currently, about 18 per cent of respondents surveyed believed that there are plenty of jobs available in Bahrain, with eight per cent claiming availability across multiple industries and 10 per cent claiming availability, but only across a limited number of industries.
Suhail Masri, vice president of Employer Solutions, Bayt.com, said: “While the region as a whole has seen a relative dip in consumer confidence, future expectations amongst respondents remain positive and bright.
“At Bayt.com there are currently more than 10,000 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.”
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.” - TradeArabia News Service
