Cost of living in MENA to increase: Poll

Residents in the Middle East and North Africa (MENA) region are anticipating the cost of living to increase in the coming year, although their financial positions have not improved, the Consumer Confidence Index (CCI) Survey conducted by Bayt.com, the Middle East’s number one job site, and YouGov, a research and consulting organization, revealed Sunday.

In Saudi Arabia, only 25 percent of respondents claim that they are in a better position now compared to six months ago. However, MENA respondents have an optimistic outlook for the months to come, with 44 percent expecting their personal or family’s financial situation to improve in the next six months.

Only 18 percent of respondents across the MENA region claim that they are in a better financial position now than they were six months ago. Only 15 percent across the region say that their savings have increased in the last year, with 25 percent saying they have remained the same. However, hope for the future is high, with 44 percent expecting their financial situation to improve in the next six months.
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