The Nielsen “Global Survey of Consumer Confidence and Spending Intentions” measures consumer confidence, major concerns, and spending intentions among more than 29,000 respondents with Internet access in 58 countries.
While it is not the majority of Egyptians that believe in a quick 12-months-economic-recovery (29%), but “the field dates for this survey showed that both; the pro-regime and those against were expecting the economy to pick up within a year,” according to Tamer ElAraby, Managing Director of Nielsen Egypt. “Those against the regime found that a restoration to the economy could reside from the June 30 demonstrations. Similarly, the supporters of the regime were confident that the government will drive the economy upwards,” he added.
Egyptian consumer confidence indexed at 77 in Q2/2013, having increased 3 points from the last quarter, but dropping 26 points compared to the same quarter last year. Egyptians have grown more confident, but not as confident as they were in 2012 right after the presidential elections.
The study also reveals that about 41% of Egyptians tend to save their spare cash, compared to 37% in the last quarter, when political sentiment was more stable than today.
How to utilize spare cash after covering essential living expenses - Nielsen
When talking about major concerns in the coming months, Egyptians are most worried about the economy, followed by political stability (37%) and job security (31%). Egyptians remain more worried about political stability than any other country surveyed and their concern about the economy exceeds the United States. Egyptians’ concerns about crime (12%) and terrorism (7%) are found to be among the top 10 global countries.
Major concerns of Egyptians in Q2/2013 - Nielsen