Saudi Arabia heading in the right direction: Ipsos

An overwhelming majority of consumers (85 percent) in Saudi Arabia believe that the Kingdom is heading in the right direction, the highest percentage in four years, and building on a positive trend witnessed since the turn of the year, according to Ipsos' April 2019 Primary Consumer Sentiment Index.

Furthermore, 58 percent view the current state of the economy as positive, with only 11 percent viewing it as weak, it noted.

Consumers are also more positive about the future, with 68 percent reporting being more confident about their personal financial situation in the next six months, and 79 percent expecting the Saudi economy to be stronger in the next six months, both percentages also representing some of the highest recorded levels in recent years.

While consumers’ views on the ability to make a major investment or purchase has gone down slightly compared to the previous month, the figures for the first four months of 2019 remain more positive than the average figures recorded in the previous two years.

Unemployment remains the top concern for consumers in the Kingdom (38 percent), followed by taxes (21 percent) and social inequality (20 percent).

The primary consumer sentiment Index is a global index conducted monthly by Ipsos across 24 countries in collaboration with Thomson Reuters. It measures consumer attitudes towards the current and future state of the local economy, consumers’ personal financial situation, as well as confidence to make larger investments and ability to save.