Rabat - The Middle East Consumer Confidence Index conducted by job website Bayt.com, and YouGov, a research and consulting organization, has revealed that 35 per cent of respondents from Morocco believe that their financial position is worse now than it was 6 months ago as compared to 11 per cent of Moroccans who said their current financial situation is better.
Rabat – The Middle East Consumer Confidence Index conducted by job website Bayt.com, and YouGov, a research and consulting organization, has revealed that 35 per cent of respondents from Morocco believe that their financial position is worse now than it was 6 months ago as compared to 11 per cent of Moroccans who said their current financial situation is better.
The survey, whose data was collected online and fieldwork was done between January 19 and 21, 2015, showed that 41 per cent of Moroccan respondents expect their financial position to improve in the next 6 months, while 11 per cent were much more pessimistic about their financial position expecting it to get worse. 57 per cent of the respondents expect cost of living to increase in the next 6 months.
More than half of Moroccan respondents state that their savings have decreased in comparison to last year. In parallel, only 11 per cent answered that their savings have actually increased while 28 per cent said their savings remained the same.
In terms of personal goals, half of Moroccan respondents claim they are not planning to buy a vehicle for their personal use in the next year. Intention to purchase a vehicle is less among Moroccan respondents with only 27 per cent said they are planning to take such a step. Among those planning to buy a vehicle in the next 12 months, 33 per cent intend to buy a new one.
62 per cent of Moroccan respondents said they are not planning to invest in property within the next year. Only 22 per cent claim they are likely to purchase property, with 49 per cent among them plan to buy an apartment, 12 per cent to buy a villa/townhouse/bungalow and 31 per cent to buy a commercial property (office/ shop etc.)
While 36 per cent of Moroccan respondents believe that the economy has improved relative to the past 6 months, 16 per cent think it has gotten worse. As for their expectations for the future, 50 per cent of respondents from Morocco expect the kingdom’s economy to improve in the next 6 months, while 13 per cent expect it to get worse. Over half of respondents expect the business conditions to improve in the next year. 56 per cent have this positive outlook, while others tended to be more pessimistic about future business conditions with 11 per cent of them thinking it will get worse.
In addition, 27 per cent believe that there are few jobs available across few industries while 32 per cent state that there few jobs available across various industries. Less respondents believe that there are plenty of jobs available (9 per cent across various industries; 20 per cent across a few industries only).
According to the findings, Moroccan respondents are positive about the future availability of jobs with 34 per cent of them expecting it to increase in the next 6 months. In contrast, 16 per cent said they expect the number of jobs to decrease in Morocco during the same period.
56 per cent of Moroccan employed respondents are dissatisfied about their current compensation (salary & allowances). 27 per cent, however, said they are satisfied about the compensation given in their current jobs.
The Middle East Consumer Confidence Index is a reflection of consumer satisfaction levels and expectations based on various factors in the economy, including inflation, stock market performance, job opportunities, salary structures, unemployment, investment avenues and returns, business growth, state economic policies, infrastructures, cost of living, interest rates and exchange rates.
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