MasterCard today revealed the results of the latest MasterCard Worldwide Index of Consumer Confidence, which found that, with a score of 86.0, consumer confidence levels in the UAE are at their highest since 2009.

 Consumers in the UAE are very optimistic in their attitudes towards all five indicators measured. When compared to the previous edition of the index released six months ago, consumers are most optimistic about the economy (89.1 vs. 84.4), employment (88.9 vs. 82.2) and quality of life (88.6 vs. 89.3). All indicators of consumer confidence were rated as positive, including regular income (86.2 vs. 85.7) and the stock market (77.0 vs. 69.0).

The survey also highlighted that female respondents (88.2) tend to be more optimistic about their prospects for the coming months than their male counterparts (84.0) and that consumers  under the age of 30 (89.5) are more optimistic than respondents over the age of 30 (85.0).

“The consumer confidence score for the UAE is at its highest since 2009, highlighting that the positive performance seen in key sectors like retail and hospitality is trickling down to impact consumer sentiment. The UAE’s continued growth has led to consistently high scores in the last couple of years,” said Eyad Al-Kourdi, vice president and country manager, UAE, MasterCard Worldwide.

Across the Middle East, the level of consumer confidence is very optimistic at an average of 83.5, and this sentiment is reflected across all five indicators. When compared to the previous edition of the Index released 6 months ago, respondents in the Middle East are most optimistic about regular income (89.8 vs. 91.3), employment (85.5 vs. 85.5) and the economy (84.4 vs. 86.5). Consumer sentiment towards quality of life (82.9 vs. 87.6) and the stock market (74.9 vs. 77.8) is also positive.

The Middle East’s aggregate score of 83.5 also remains higher than that of Asia/ Pacific (57.2) and Africa (76.1).

The MasterCard Worldwide Index of Consumer Confidence is based on a survey conducted between 24th April 2012 and 10 June 2012 among 11,367 respondents aged 18 to 64 years in 25 countries within Asia/Pacific, Middle East and Africa. Now in its 20th year in Asia/Pacific and its 9th year in the Middle East and Africa, the Index is the region’s most comprehensive and longest running consumer confidence survey. The Index is based on a survey which measures consumer confidence on prevailing expectations in the market over the next six months, based on five economic indicators: economy, employment, stock market, regular income and quality of life. The index score is calculated with zero as the most pessimistic, 100 as most optimistic and 50 as neutral.

MasterCard Worldwide Index of Consumer Confidence

Amongst other findings in the Middle East:

  • Consumer confidence is highest in Qatar with a score of 96.6.
  • All markets surveyed across the Middle East, with the exception of Lebanon, reflected positive levels of consumer confidence, with scores of 84 or higher.
  • Consumer Confidence in Egypt is at a record high of 90.7.

Consumer Confidence Results:

MARKETS

2H 2012 1H 2012

2H 2011

1H 2011

2H 2010

1H 2010

2H 2009

1H 2009

Egypt

90.7

88.3

75.4

47.7

45.5

59.5

32.4

55.6

Kuwait

84.7

88.3

90.6

80.4

96.9

70.9

49.7

96.6

Lebanon

44.3

70.5

24.1

54.3

44.6

55.4

64.5

69.1

Oman

91.5

93.6

98.8

-

-

-

-

-

Qatar

96.6

93.6

99.7

83.6

65.8

89.2

71.6

76.2

Saudi Arabia

90.9

83.9

98.4

95.1

85.0

83.2

67.3

72.4

U.A.E.

86.0

82.1

92.9

73.6

82.4

86.1

29.6

75.4

Total Middle East

83.5

85.7

82.8

72.4

70.1

74.1

52.5

74.2

 

 

 

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