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Fri 13 Nov 2009 11:50 AM

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Mideast nations most positive about global rebound - survey

UAE residents have highest trust level in government to manage crisis.

Middle Eastern countries are the most optimistic with 18% more citizens who feel the economic situation will improve rather than worsen, according to a report.

Middle Eastern countries have the most positive economic outlook, followed by North American countries and the Asia-Pacific region, according to a study by the Worldwide Independent Network of Market Research (WIN).

The WIN Crisis Index revealed that Western Europe, Eastern Europe and Latin America are taking a little more time to recover from this economic crisis, WIN revealed in a press release on Thursday.

The Index also showed that consumers in UAE along with China, Russia and India are highly optimisticwith low cutbacks but are psychologically affected by recession.

UAE consumers are most optimistic in the world about financial forecast for their market with 36% expressing faith that economic situation will get better, WIN found out.

Consumers in Kuwait are most optimistic in the world that their income will increase in the near future. However most of the UAE consumers (57%) believe that their income will remain the same.

Consumer confidence in real estate in UAE seems to be badly shaken with 41% believing that it is a bad time to buy a house in the market and only 15% of respondents feel that it is a good time to buy a house.

The study showed that the residents in the UAE express the highest levels of trust in their government to manage financial situation while those in Romania had the least trust.

In addition, the Middle East has expressed a high trust in the stability of the banks aswell as stocks as compared to the world.

The fourth wave of the WIN Crisis Index, brought together the greatest independent firms of market research throughout the world, interviewed 23,659 respondents in 24 countries from mid-September to the end of October 2009.

Pan Arab Research Center as a member of WIN conducted the WINS Crisis Index in selected markets of Middle East.

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