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A new survey from Bayt.com revealed that close to half of Qatar’s population believes that the country’s economy has improved in the last six months. |
The survey added that while 51% of Qatar respondents share a positive sentiment that their personal financial position will improve in the next six months, 70% also expect the cost of living to increase within the same period.
In Qatar, 30% claim their financial position has improved in the last six months while three of 10 respondents or 32% claim that nothing has changed and 31% reported a decline.
Almost half of the respondents or 45% claim that their savings have decreased compared to 12 months ago.
However, the outlook is positive with 51% anticipating their financial situation to improve in the next six months despite the expected increase in cost of living within the same period among seven out of 10 or 70% living in Qatar.
Among the 41% who plan to buy a vehicle for personal use in the next 12 months, five in 10 or 50% would prefer a used vehicle while a third or 31% plan to invest in property within the same period.
For property investors, 52% will look for newly-built properties while 44% will opt for apartments.
In the GCC, respondents are generally positive about the economy, believing that it has mostly improved in the last six months.
Some 47% of Qatar respondents believe the country’s economy has improved in the last six months, a trend that 63% say will continue in the six months to come.
Business conditions are considered to be very good by 55% of respondents with six in 10 or 64% claiming that things will become even better in a year’s time.
There are plenty of jobs available in Qatar according to 51% of respondents but 58% are hoping for more employment opportunities to appear in the next six months.
With 54% of respondents stating that there are more employees working with them now than half a year ago, it suggests that companies in Qatar have been hiring in the past six months.
This trend will continue as half of Qatar respondents or 52% expect to have more colleagues in the coming six months.
Data for the Bayt.com Middle East and North Africa Consumer Confidence Index Survey for March 2014 was collected online from February 9 to 24, 2014, with 6,728 respondents aged 18 and above.
