Consumer confidence is high Qataris and residents from high-income and low-income sections, according to a poll conducted by Qatar University’s Social and Economic Survey Research Institute (SESRI).
Findings from SESRI’s Qatar Quarterly Survey (QQS) involving 1,600 respondents, suggest social and economic optimism is high among citizens and residents.
Qatari citizens presented the highest ratings (90.4) in consumer confidence – Qatar Consumer Confidence Index, which is computed from answers given by the survey’s respondents – followed by high-income (86.7) and low-income residents (84.5).
The Qatar Consumer Confidence Index is an indicator of the degree of optimism or pessimism consumers express with respect to personal finances and to state of the economy, affecting their expenditures. A higher consumer confidence index is generally associated with more consumer purchases and economic expansion.
Asked to evaluate their current financial condition and share their future economic expectations, respondents’ answers revealed an upward trend, indicating relative financial security and optimistic prospects for the future.
On their current economic conditions, Qatari citizens rated 85.5, high-income 78.0, and low-income residents 73.6. The survey also revealed optimism for future economic conditions, with Qatari citizens rated 92.0, high-income 89.5 and low-income residents 88.2.
Respondents indicated a positive outlook when rating Qatar as a place to live now, one year ago, and one year from now. Ratings were based on a scale from 0 to 100, with 0 representing the worst place to live, and 100 the best place to live. One-year-ago ratings showed 84 for Qatari citizens, 75 for high-income and 69 for low-income residents.
Current-year ratings showed 92 for Qatari citizens, 79 for high-income and 77 for low-income residents. Year-ahead ratings showed 94 for Qatari citizens, 85 for high-income and 84 for low-income residents.
Commenting on the findings SESRI , Director and Associate VP for Research Dr Darwish Alemadi said, “The survey seeks to quantify anecdotal sentiments among the residents of Qatar. Its findings will greatly benefit key business figures and policymakers nationwide.”
SESRI’s head of research and QQS principal investigator Dr Abdoulaye Diop, said the findings “mark the beginning of an ongoing series of surveys that aim to monitor and compare economic and social perceptions over time. The indices will serve as a benchmark for upcoming surveys”.
The survey formed part of the first round of telephone surveys conducted by the QQS, the Institute’s new initiative that seeks responses from nationals, high-income and low-income residents to gauge attitudes and views on matters of public importance.