Saudi Arabia ranks second globally in consumer confidence survey

Saudi Arabia ranked second worldwide in the Consumer Confidence Index for March 2021; which measures the current and future status of 23 global markets; it was reported here on Wednesday.

According to the report; Saudi Arabia scored 61.4 points in the Ipsos consumer confidence index; which “15.7 points higher than the global average of 45.7 points.” The Kingdom remained just behind China; which also topped the list for months; and was ahead of the world’s major markets of Sweden; coupled with India; Australia; the United States; Germany; Britain; Canada; Belgium; France.

The survey also measures four basic indicators: trends in the local economy; the investment environment in the country; personal financial capabilities of consumers; and general job security.

The index result markedly reflects the high confidence of the Saudi consumer in the national economy; optimism; its positive outlook; procurement process; and the intentions of spending albeit investment.

Indeed the Kingdom achieved; last year; a markedly quantum leap from the 38th to second place in the consumer price index according to the IMD Global Competitiveness Yearbook report.