Two-thirds of Jordanians think economy is getting worse

Two-thirds of Jordanians think economy is getting worse
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Published April 4th, 2013 - 11:50 GMT via SyndiGate.info

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Bayt.com.

Sixty-five per cent of Jordanians believe that the country’s economy has gotten worse in the last six months, and 38 per cent say that business conditions are now “average”, according to a study by Bayt.com.

Conducted in cooperation with YouGov, the study showed that the outlook for Jordan’s future is “hopeful” with 37 per cent of the respondents anticipating better business conditions.

The study, which was e-mailed to The Jordan Times, polled 16,379 respondents, both men and women, aged 18 or above, between February 12-28.

As far as their current financial situation is concerned, 37 per cent of Jordanians said that there has been no change in the past six months, while 48 per cent said things are now worse and 69 per cent said their savings have been depleted in comparison to last year.

However, 35 per cent of Jordanians believe that things will be better in the coming six months.

Despite this optimism, 89 per cent said they expect the cost of living in the country to increase within the same time frame, the study showed.

The majority of Jordanians, or 55 per cent, said they were not considering buying a personal vehicle in the next 12 months. Of the 31 per cent who said they are looking to make a purchase, 28 per cent will choose to buy a new vehicle, while 67 per cent will opt for a used one.

The study showed that Middle East and North Africa (MENA) residents have an optimistic outlook for the months to come, with 44 per cent expecting their personal or family’s financial situation to improve in the next six months.

Only 18 per cent of respondents across the MENA region said they were in a better financial position now than they were six months ago, while only 15 per cent across the region said their savings have increased in the last year, with 25 per cent saying they have remained the same.

Of the MENA residents, 78 per cent believe that the cost of living in their country will increase.

In terms of job satisfaction, 41 per cent of MENA residents are currently satisfied with their career growth opportunities in their current job, though 46 per cent are dissatisfied with their compensation and allowances, compared with 33 per cent who are happy with them.

Bayt.com is a community of professionals interested in the MENA region, which includes over 10,000,000 registered jobseekers and 40,000 employers.

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