Saudi Gazette report

RIYADH — Saudi Arabia ranked second worldwide in the Consumer Confidence Index for March 2021, which measures the current and future status of 23 global markets, it was reported here on Wednesday.

According to the report, Saudi Arabia scored 61.4 points in the Ipsos consumer confidence index, which "15.7 points higher than the global average of 45.7 points." The Kingdom remained just behind China, which topped the list for months, and was ahead of the world's major markets of Sweden, India, Australia, the United States, Germany, Britain, Canada, Belgium, France.

The survey measures four basic indicators: trends in the local economy, the investment environment in the country, personal financial capabilities of consumers, and general job security.

The index result reflects the high confidence of the Saudi consumer in the national economy, optimism, its positive outlook, procurement process, and the intentions of spending and investment.

It is worth mentioning that the Kingdom achieved, last year, a quantum leap from the 38th to second place in the consumer price index according to the IMD Global Competitiveness Yearbook report.