Saudi- Survey says expats see bright future

(MENAFN- Arab News) A public opinion survey has revealed that 50 percent of expatriates working in the Kingdom are optimistic that their economic conditions will improve within the next six months. The survey, conducted by Bayt.com for the Consumer Confidence Index (CCI) in the MENA region, also indicated that respondents expect a rise in living costs in their host countries. The majority of respondents expect their financial resources to increase during the next six months, even though 76 percent of them forecast that living costs will increase during the same period. Around 66 percent of respondents said their current financial situation is either the same or worse than it was six months ago, compared with 47 percent who have suffered from a decline in their savings. Twenty-four percent of participants in the survey agreed that there were employment opportunities in various sectors, against 23 percent who said jobs openings were limited to certain sectors. The survey indicated that four out of ten respondents expect Saudi Arabia to witness a growth in employment opportunity rates within the coming six months, against 27 percent who said conditions would remain unchanged. Some 45 percent of respondents from within the Kingdom have expressed their approval. In other categories, 52 percent of participants said they were satisfied with the compensation packages given to them and 44 percent said they were secure in their jobs. Suhail Masri, vice president of sales at Bayt.com, said: "The results of the survey reveal that respondents view GCC countries favorably in terms of living and work." He added that Levant countries are less popular due to prevailing political instability.