Saudi Consumer Confidence Soars, Beats Global Peers
In a thrilling revelation, a new survey has found that consumer confidence in Saudi Arabia is soaring high, with a whopping 95 percent of respondents believing that the country is on the right path. The latest Ipsos Primary Consumer Sentiment Index for Saudi Arabia has revealed that the Kingdom’s confidence levels are outshining major economies such as China and India.
With a PCSI score of 72.7 for May, Saudi Arabia is not only slightly higher than April’s score of 71.9 but also significantly above the global average of 50.2. This index dives deep into evaluating current personal financial conditions, economic expectations, investment climate, and employment confidence.
The surge in consumer trust mirrors Saudi Arabia’s economic growth projections, which are expected to outstrip the global average by 2025, as per the latest International Monetary Fund study. The IMF’s World Economic Outlook update forecasts a remarkable 4.7 percent output increase for the Kingdom next year, surpassing the 3.3 percent international forecast.