Will business conditions improve in Saudi?

October 11, 2016

Riyadh, Oct 11: In a recent poll, 50% of respondents in Saudi Arabia expect business conditions to improve in one year.

1riyadh 1

A survey conducted by Bayt.com, the Middle East’s number one job site, and YouGov, a leading market research agency, showed that 40% of the respondents expect the country’s economy to improve in the next six months.

“Despite the negative feelings that have characterized the past few months, there are sparks of optimism among respondents that economic conditions in their countries will improve in the future,” said Suhail Al-Masri, VP of Employer Solutions, Bayt.com.

Overall, only 20% of respondents in the Kingdom of Saudi Arabia believe that their country’s economy has improved compared to 6 months earlier, while 26% claim that it has remained the same. 42% of the respondents believe their country’s economy has receded. When asked about future expectations, 40% of respondents were optimistic about the economy improving, and a lower number believed the opposite to be true (25%). Nevertheless, 21% of the respondents don’t expect any change in the economy.

In terms of business conditions, almost one in four KSA respondents (27%) believe that business conditions are presently good. Conversely, 31% believe that conditions are average, while 40% believe that they are bad.
Regarding expectations for business conditions in a year’s time, 50% of KSA respondents are optimistic, 19% expect the situation to remain unaltered, while 20% are not confident at all, stating that the business conditions have the potential to get worse.

When it comes to job availability, 34% state that there are few jobs available across few industries, while 27% of respondents believe there are few jobs available across various industries. About 16% of KSA respondents claim that there are plenty of jobs available but across a few industries only, while a minor 12% state that there are plenty of jobs available across a wide variety of industries.

When it comes to future availability of jobs, a general negative outlook prevails amongst KSA consumers, where 33% of the respondents believe there will be a decrease of jobs available in their country over the next six months, and 25% state that the availability won’t change. However, 28% are still positive about this, stating that job availability will increase.

Less than 1 in 5 respondents (19%) believe that their current financial position is better now than it was six months ago, while 35% believe that it has remained the same. On a positive note, almost 43% KSA respondents expect their financial situation to improve in the next six months, while 26% say that it will remain the same.

Considering the opinions on the future cost of living, the majority of respondents (65%) expect the cost of living to increase in the next six months. On the other hand, only 6% of them expect it to decrease. When asked about the situation of their current savings compared to last year’s, 16% of KSA respondents claim that their savings have increased, while a quarter (25%) claim that savings have remained the same. 55%, however, believe that their savings have decreased in the same period.

The survey further revealed that 38% of KSA respondents are planning to buy a vehicle for personal use in the next 12 months. Conversely, 51% are not planning on buying a vehicle at all. Of those who are planning on purchasing a vehicle, 45% are planning to buy a new vehicle, while 34% claim to be looking for a used car.

When it comes to investing in property in the next 12 months, more than a quarter of KSA respondents say that they are planning to purchase property (29%). 54% of respondents, however, are not. Of those who are planning on making a property investment, 56% will be looking to buy new property, while 15% will invest in pre-owned estate. Almost half of Saudi Arabia respondents are looking to purchase an apartment (35%), while around a quarter will buy a villa/townhouse/bungalow (31%). 35% will invest in commercial property.

In KSA, 23% of employed respondents feel that the number of employees in their companies has increased over the past six months, while 50% believe the opposite to be true. Over the course of the next six months, 25% of employed KSA respondents expect the number of employees in their organization to increase, while 26% expect this number to remain the same. Conversely, 40% say that the number of employees in their company will decrease.

With regards to satisfaction levels, 42% of employed KSA respondents are satisfied with their career growth opportunities, while 38% are dissatisfied. When it comes to compensation, almost a third of KSA respondents (34%) are satisfied, while almost half of them (43%) are dissatisfied with their current compensation levels. The majority of respondents (53%) are satisfied with the non-monetary benefits they receive, and 40% are satisfied with the level of job security in their current organization.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
April 5,2020

Beirut, Apr 5: The novel coronavirus has put global trade on hold, placed half of the world population in confinement and has the potential to topple governments and reshape diplomatic relations.

The United Nations has appealed for ceasefires in all the major conflicts rocking the planet, with its chief Antonio Guterres on Friday warning "the worst is yet to come". But it remains unclear what the pandemic's impact will be on the multiple wars roiling the Middle East.

Here is an overview of the impact so far on the conflicts in Syria, Yemen, Libya and Iraq:

The COVID-19 outbreak turned into a pandemic just as a ceasefire reached by the two main foreign power brokers in Syria's nine-year-old war -- Russia and Turkey -- was taking effect.

The three million people living in the ceasefire zone, in the country's northwestern region of Idlib, had little hope the deal would hold.

Yet fears the coronavirus could spread like wildfire across the devastated country appear to have given the truce an extended lease of life.

According to the Syrian Observatory for Human Rights, the month of March saw the lowest civilian death toll since the conflict started in 2011, with 103 deaths.

The ability of the multiple administrations in Syria -- the Damascus government, the autonomous Kurdish administration in the northeast and the jihadist-led alliance that runs Idlib -- to manage the coronavirus threat is key to their credibility.

"This epidemic is a way for Damascus to show that the Syrian state is efficient and all territories should be returned under its governance," analyst Fabrice Balanche said.

However the pandemic and the global mobilisation it requires could precipitate the departure of US-led troops from Syria and neighbouring Iraq.

This in turn could create a vacuum in which the Islamic State jihadist group, still reeling from the demise of its "caliphate" a year ago, could seek to step up its attacks.

The Yemeni government and the Huthi rebels initially responded positively to the UN appeal for a ceasefire, as did neighbouring Saudi Arabia, which leads a military coalition in support of the government.

That rare glimmer of hope in the five-year-old conflict was short-lived however and last week Saudi air defences intercepted ballistic missiles over Riyadh and a border city fired by the Iran-backed rebels.

The Saudi-led coalition retaliated by striking Huthi targets in the rebel-held capital Sanaa on Monday.

Talks have repeatedly faltered but the UN envoy Martin Griffiths is holding daily consultations in a bid to clinch a nationwide ceasefire.

More flare-ups in Yemen could compound a humanitarian crisis often described as the worst in the world and invite a coronavirus outbreak of catastrophic proportions.

In a country where the health infrastructure has collapsed, where water is a rare commodity and where 24 million people require humanitarian assistance, the population fears being wiped out if a ceasefire doesn't allow for adequate aid.

"People will end up dying on the streets, bodies will be rotting in the open," said Mohammed Omar, a taxi driver in the Red Sea port city of Hodeida.

Much like Yemen, the main protagonists in the Libyan conflict initially welcomed the UN ceasefire call but swiftly resumed hostilities.

Fierce fighting has rocked the south of the capital Tripoli in recent days, suggesting the risk of a major coronavirus outbreak is not enough to make guns fall silent.

Turkey has recently played a key role in the conflict, throwing its weight behind the UN-recognised Government of National Accord.

Fabrice Balanche predicted that accelerated Western disengagement from Middle East conflicts could limit Turkish support to the GNA.

That could eventually favour forces loyal to eastern-based strongman Khalifa Haftar, who launched an assault on Tripoli one year ago and has the backing of Russia, Egypt and the United Arab Emirates.

Western countries have been hit hardest by the pandemic, which could prompt them to divert both military resources and peace-brokering capacity from foreign conflicts.

A report by the International Crisis Group said European officials had reported that efforts to secure a ceasefire in Libya were no longer receiving high-level attention due to the pandemic.

Iraq is no longer gripped by fully-fledged conflict but it remains vulnerable to an IS resurgence in some regions and its two main foreign backers are at each other's throats.

Iran and the United States are two of the countries most affected by the coronavirus but there has been no sign of any let-up in their battle for influence that has largely played out on Iraqi soil.

With most non-US troops in the coalition now gone and some bases evacuated, American personnel are now regrouped in a handful of locations in Iraq.

Washington has deployed Patriot air defence missiles, prompting fears of a fresh escalation with Tehran, whose proxies it blames for a spate of rocket attacks on bases housing US troops.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
Agencies
March 1,2020

Paris, Mar 1: Most of the riders and teams taking part in the abandoned UAE Tour, and who had been quarantined in their Abu Dhabi hotels since Thursday after a coronavirus scare, were cleared to leave the country, sources said.

"The pleasure of going home after several days spent at the hotel," tweeted 2018 world champion Alejandro Valverde, one of the top stars of the race along with Chris Froome, the four-time winner of the Tour de France.

"We are doing well and soon we will fly to Spain."

However, there was confusion over how many competitors and officials will be allowed to leave.

All 133 cyclists who were still in contention as well as team members were tested after it was announced by organisers Thursday that two Italian staff members on the race had tested positive for the COVID-19 virus.

Earlier Saturday, the UAE Tour, quoting health officials, said that 167 people had been tested and all were negative.

The Department of Health-Abu Dhabi were "still monitoring the condition of the remaining cases of contacts, whose lab testing findings will be available in the next few hours."

The UAE Tour cancelled its last two stages on Thursday after the coronavirus cases were confirmed.

Danish cyclist Michael Morkov of the Deceuninck-Quick-Step team, who took part in the first four stages, was placed in isolation in his hotel room after arriving in Berlin to take part in the world track championships.

However, on Saturday, he too was cleared to take part.

"The rider present in Berlin is currently in excellent health, with no suspicious clinical signs, and we are also guaranteed that he has not contacted the two members of the management of a team participating in the UAE Tour, originally suspected of coronavirus," governing body UCI said in a statement.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
March 9,2020

Riyadh, Mar 9: Schools and universities will be closed in Saudi Arabia from Monday to control the spread of coronavirus.

The Saudi Ministry of Education said the “preventive and precautionary” measures were recommended by the health authorities and are designed to protect students and staff.

The decision covers all educational institutions, including public and private schools, and technical and vocational training institutions.

“The Minister of Education directed that virtual schools and distance education be activated while the schools are closed to ensure that the educational process continues in an effective and quality manner,” the ministry said.

The Kingdom's Education Minister, Hamad bin Mohammed Al-Asheikh, confirmed that the decision was a precautionary step and said that they are conducting daily and weekly evaluations before returning to school.

Meanwhile, the Minister of Health, Tawfiq Al-Rabiah, confirmed that there have been no coronavirus cases in any educational facility in the Kingdom.

“Thank God, the situation is reassuring, and there has been no case in any educational facility. However, the increasing cases in countries have made us keen to enhance the safety of our sons and daughters. So we coordinated with the Ministry of Education to close the schools temporarily,” he said in a tweet on Sunday.

The education ministry has set up supervision offices to help coordinate the distance learning, and respond to parents’ inquiries.

A new committee set up by the ministry will also ensure the virtual schools are functioning through the distance learning methods provided by the ministry.

These include the virtual school platform (Vschool.sa) and mwterials available from the Apple and Android stores.

It will also provide lessons through the “Ain” TV channeland as well as on YouTube via this link: www.youtube.com/dorosien.

The General Presidency for the Affairs of the Grand Mosque and the Prophet’s Mosque also said on Sunday that it will suspend the visitation programs in its external facilities as part of recommended precautions to prevent the spread of the coronavirus and ensure the safety of visitors.

The facilities include the King Abdulaziz Complex for the Covering of the Holy Kaaba, the Gallery of the Two Holy Mosques, and the Library of the Holy Mosque of Makkah.

“The presidency has taken a series of precautionary measures to prevent the spread of the virus, by intensifying sterilization work that is taking place around the clock, and has been keen on coordination and joint cooperation with all relevant government sectors,” it said in a statement issued on SPA.

It added that these preventive efforts come within the procedures that are being implemented by the Saudi government seeking to combat the spread of the new virus, to protect the people of the Two Holy Mosques in particular, and citizens and residents in the Kingdom in general.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.