MasterCard Consumer Saving Survey: Market Highlights -Middle East and Africa

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As the Market Highlights from Asia Pacific and the Market Highlights from the Middle East and South Africa are so detailed we have devoted a whole page to each.

Egypt

- Male consumers (13%) in Egypt are planning to save more compared to their female counterparts (5%) in the next six months.

- Younger consumers between the ages of 18 to 30 years old (13%) are planning to save more in the next six months compared to their older counterparts – 31 to 45 years (5%), 46 to 55 years (11%) and 56 years and above (5%).

- The economic uncertainty has caused 75% of Egyptian consumers to either maintain or increase their level of savings in preparation for unforeseen emergency expenditures. Among the different age groups, those in the 46-55 age bracket (83%) are most concerned about saving for a rainy day.

- Egyptian consumers are also saving for buying property (44%), consumer electronics (41%) and purchase of car/motorcycle (33%).

- The majority of Egyptian consumers (48%) plan to save 0% of their income in the next six months.

Kuwait

- Male consumers (29%) in Kuwait are planning to save more compared to their female counterparts (26%) in the next six months.

- Consumers between the ages of 31 to 45 years old (30%) are planning to save more in the next six months compared to the other age groups – 18 to 30 years (26%), 46 to 55 years (28%) and 56 years and above (26%).

- The economic uncertainty has caused 68% of the consumers in Kuwait to either maintain or increase their level of savings in preparation for unforeseen emergency expenditures. Among the different age groups, those in the 46-55 age bracket (71%) are most concerned about saving for a rainy day.

- Consumers in Kuwait are also saving for international personal air travel (72%), buying property (49%) and consumer electronics (48%).

- The majority of consumers in Kuwait (24%) plan to save between 21-30% of their income in the next six months.

Lebanon

- Male consumers (27%) in Lebanon are planning to save more compared to their female counterparts (21%) in the next six months.

- Younger consumers between the ages of 18 to 30 years old (29%) are planning to save more in the next six months compared to their older counterparts – 31 to 45 years (24%), 46 to 55 years (15%) and 56 years and above (15%).

- The economic uncertainty has caused 66% of Lebanese consumers to either maintain or increase their level of savings in preparation for unforeseen emergency expenditures. Among the different age groups, those in the 31-45 age bracket (71%) are most concerned about saving for a rainy day.

- Lebanese consumers are also saving for retirement (44%), purchase of car/motorcycle (42%) and buying property (37%).

- The majority of Lebanese consumers (29%) plan to save between 1-10% of their income in the next six months.

Qatar

- Male consumers (50%) in Qatar are planning to save more compared to their female counterparts (33%) in the next six months.

- Younger consumers between the ages of 18 to 30 years old (51%) are planning to save more in the next six months compared to their older counterparts – 31 to 45 years (40%), 46 to 55 years (36%) and 56 years and above (44%).

- The economic uncertainty has caused 83% of consumers in Qatar to either maintain or increase their level of savings in preparation for unforeseen emergency expenditures. Among the different age groups, those in the 46-55 age bracket (90%) are most concerned about saving for a rainy day.

- Consumers in Qatar are also saving for investments (62%), buying property (55%) and purchase of car/motorcycle (27%).

- The majority of consumers in Qatar (27%) plan to save between 1-10% of their income in the next six months.

Saudi Arabia

- Male consumers (31%) in Saudi Arabia are planning to save more compared to their female counterparts (18%) in the next six months.

- Younger consumers between the ages of 18 to 30 years old (29%) are planning to save more in the next six months compared to their older counterparts – 31 to 45 years (24%), 46 to 55 years (20%) and 56 years and above (20%).

- The economic uncertainty has caused 62% of Saudi Arabian consumers to either maintain or increase their level of savings in preparation for unforeseen emergency expenditures. Among the different age groups, those in the 46-55 age bracket (68%) are most concerned about saving for a rainy day.

- Saudi Arabian consumers are also saving for buying property (64%), purchase of car/motorcycle (60%) and consumer electronics (55%).

- The majority of Saudi Arabian consumers (21%) plan to save between 11-20% of their income in the next six months.

South Africa

- Male consumers (51%) in South Africa are planning to save more compared to their female counterparts (43%) in the next six months.

- Younger consumers between the ages of 18 to 30 years old (53%) are planning to save more in the next six months compared to their older counterparts – 31 to 45 years (49%), 46 to 55 years (38%) and 56 years and above (33%).

- The economic uncertainty has caused 75% of South African consumers to either maintain or increase their level of savings in preparation for unforeseen emergency expenditures. Among the different age groups, those in the 31-45 age bracket (77%) are most concerned about saving for a rainy day.

- South African consumers are also saving for investments (64%), buying property (55%) and retirement (52%).

-  The majority of South African consumers (35%) plan to save between 1-10% of their income in the next six months.

United Arab Emirates

- Female consumers (47%) in United Arab Emirates are planning to save more compared to their male counterparts (46%) in the next six months.

- Younger consumers between the ages of 18 to 30 years old (53%) are planning to save more in the next six months compared to their older counterparts – 31 to 45 years (45%), 46 to 55 years (37%) and 56 years and above (43%).

- The economic uncertainty has caused 84% of consumers in U.A.E. to either maintain or increase their level of savings in preparation for unforeseen emergency expenditures. Among the different age groups, those in the 46-55 age bracket (87%) are most concerned about saving for a rainy day.

- Consumers in U.A.E. are also saving for investments (51%), retirement (37%) and international personal air travel (37%).

- The majority of consumers in U.A.E. (24%) plan to save between 11-20% of their income in the next six months.

As the Market Highlights from Asia Pacific and the Market Highlights from the Middle East and South Africa are so detailed we have devoted a whole page to each.

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