D/A’s Sila GCC Consumer Sentiment Index

Home 9 Insights 9 Sila Consumer Sentiment Index

Sila Consumer Sentiment Index – Qatar: Nov, 2021

Recording a 2.3% increase in overall positivity (from October’s 53.2% to 55.5% in November), Qatar’s recovery is being steered by factors similar to those perceived in Saudi Arabia. The improvement of the relationship with the UAE (and the rest of the GCC) has also produced tangible benefits, while the upcoming FIFA World Cup Qatar 2022 and the FIFA Arab Cup 2021 (taking place in December) are both major contributors to the positive outlook. Despite trending below July highs of 59.2%, the country’s consistent upward trajectory in consumer confidence has been building since September, when 52.2% net positivity was logged.

Sentiment in Saudi

Sila Consumer Sentiment Index – Kuwait: November 2021

Although a major economic force in the GCC, Kuwait is witnessing a persistent decline in economic sentiment. November’s net positive value of 65.9% represents a notable drop from the 71.3% recorded in October – itself a decline from 75.2% in September (a series high). This amounts to an almost 10% regression in consumer sentiment over the past three months.

Sentiment in Saudi

Sila Consumer Sentiment Index – UAE: Nov, 2021

The second-largest economy in the GCC according to population size appears to not be impacted by the emergence of the new COVID-19 variant, sustaining a steady improvement in consumer confidence – from 75.8% in October to 78.2% in November. This substantial rise of 2.4% follows September’s figure of 74.6% and places the UAE above the pre-pandemic net positivity and consumer confidence level of 75.5%, which translates to a robust economy with overall positive sentiment towards all of the items covered in our survey.

Sentiment in Saudi

Sila Consumer Sentiment Index – Saudi Arabia: November, 2021

The GCC’s largest economy has seen the consumer sentiment index rise to a net positivity of 50.2% in November. Since a decline from August’s 51.7% to 47.5% in September, confidence has been recovering steadily, after registering at 49.6% in October. While this has largely been propelled by growth in general economic confidence, it must be noted that the KSA is one of the GCC’s more sluggish economies in terms of consumer sentiment, with the index still well below the pre-pandemic summit of 69.9%.

Sentiment in Saudi