Egypt consumer confidence increases to 84 in Q4 2017

CAIRO – 7 May 2018: Consumer confidence in Egypt increased to 84 in the fourth quarter of 2017, compared to 78 in the previous quarter and 64 in the same quarter of 2016.

Global Consumer Confidence Survey (TCB Global CCS), which is produced in collaboration with Nielsen Holdings Company, attributed this rise to the improvements in the perception of job prospects and immediate-spending intentions.

Nielsen’s statement showed that respondents in Egypt were optimistic about their job prospects.

About 40 percent of the respondents believe that they would be good or excellent in the next 12 months, 50 percent were confident about the state of their personal finances, and 29 percent were pro immediate-purchasing intentions.

“Egypt is undergoing so many changes, be it on an infrastructure or economical level, with a lot of effort exerted in improving living conditions and increasing opportunities for Egypt’s very young population,” said Tamer El Araby, managing director of Nielsen for Egypt and the Levant.

“After the initial instability that comes with currency devaluation, the Egyptian consumer has learnt to adapt and improve along with the changes. There is still quite a distance to travel, but the country is well on its way to a level of stability, and maybe growth,” he added.

The survey was conducted November 8-23, 2017 and polled more than 32,000 online consumers in 64 countries throughout Asia-Pacific, Europe, Latin America, the Middle East/Africa and North America.

Nielsen Holdings is a management company that provides a comprehensive understanding of what consumers watch and buy.