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Egyptians optimistic about business opportunities: Bayt

Although the savings have decreased by 61% of respondents, 38% are optimistic about the economy.

One of Middle East's most prominent job websites conducted a survey on the Consumer Confidence Index to understand the perceptions and attitudes of Middle Eastern consumers regarding the economy of their countries, their personal financial and job situation, their likelihood to purchase and invest, and the employment market in general.

Egypt Business Directory brings you what the report said about Egypt.

Egypt’s economy has receded in the past six months according to 52% of Egyptian respondents, and 16% believed it improved, whereas 25% think it remained the same. However, 38% are optimistic about the economy, expecting it to improve in the coming 6 months, compared to 30% who believe it will recede and 18% who think it will remain the same.

57% are dissatisfied with their current salary and allowances at their workplace, 51% are dissatisfied with non-monetary benefits, 48% are dissatisfied with their job security and 46% are dissatisfied with career growth opportunities.

42% of Egyptian families are in a worse financial position than they were six months ago, whereas 34% remained the same and 16% got better.

37% expect their families’ financial position to be better in the next 6 months, compared to the current period, whereas 24% expect no change and 21% expect worsened conditions.

In the coming six months, 79% expect an increase in the cost of living, as only 1% expect a decrease and 4% believe there will not be any change.

Savings in Egypt have mainly decreased (61%), as 21% of people witnessed no change in their amount of savings, and 13% increased their savings.

66% of Egyptians are not planning to buy a vehicle for personal use in the next 12 months, as opposed to 27% who want to purchase a vehicle. 51% of the latter are aiming at a used car.

69% are not planning to invest in property within the next 12 months, as opposed to 16%. Over half of the latter are aiming for an apartment (56%), 18% for a villa/townhouse/bungalow, and 16% for a commercial property.

46% believe that there are a few jobs available across various industries, compared to 6% who think that there are plenty of jobs available across various industries. 27% guess the numbers of jobs will increase in the next 6 months, and 25% believe the number will decrease.