About 31 percent of the professionals are ready to work for less salary in their next job, if redundancy becomes a reality, while 25 percent have already accepted employment in a different country from their families, reveals the latest survey report conducted by Bayt.com, the number one job site of Middle East, together with the research specialists YouGov.
Almost half of UAE residents (43 percent) have reduced their household expenses owing to the current recession, the highest cut among all of the countries surveyed around the Middle East, reveals the study report.
However among all surveyed countries, only 30 percent of professionals have cut down their household spending, while just over a quarter of respondents have increased their household budget.
The CEO of YouGov –MENA region, Nassim Ghrayeb, said that in a similar research conducted during the past six months, the UAE consumers are cutting back considerably in their spending. The trend of being more budget-conscious is set to continue in the short-term.
The reasons cited by the professionals for cutting down their household expenses were recession (the most common answer) by 43 percent of residents. This was closely followed by cutbacks, as few respondents had lost their jobs. Even here, the UAE’s figures were the highest in terms of cutting down household spending due to job losses (45 percent), followed closely by Kuwait (44 percent) and Egypt (41 percent).
Only 31 percent of all respondents agreed that they would be willing to accept a lesser pay, while 45 percent stated that they wouldn’t settle for anything less. The figure was higher than average with 38 percent of respondents stating that they would be willing to accept a lower salary, while 48 percent stated in the negative. The figures around the region were also much the same.
According to Amer Zureikat, Regional Manager, Bayt.com, the general notion is that the recession has had its impact on the region, and this manifests itself in the attitude of professionals working here.
The study titled ‘Surveying the Recession’ was carried out to study consumer opinions and their struggles during the global economic turmoil, and to understand the impact of recession at a personal level, and how it had affected the consumer spending and savings.
The data for the study was collected online from 26th May to 28th June 2009, with 12908 respondents across the Qatar, KSA, UAE, Kuwait, Oman, Syria, Jordan, Bahrain, Morocco, Egypt, Tunisia, Pakistan, Lebanon and Algeria. All nationalities were included in the study. Posted on 20/7/2009
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