January 15, 2007 will see the unveiling of the UAE results of the latest MasterIndex of Consumer Confidence survey, one of the most comprehensive surveys in the Middle East. A briefing will be held at the Emirates Towers Hotel in Dubai to an audience of MasterCard customer financial institutions, selected guests from the business community, government officials and other key influencers in the UAE.
Results will be unveiled by Denzil Lawson, General Manager, MasterCard Worldwide, Middle East and Levant at the briefing. Dr. Nasser Saidi, will provide economic analysis and commentary around consumer confidence trends and the impact on the business environment. Dr Saidi, a leading economist is currently the Chief Economist of the DIFC and a former Minister and Central Bank First Vice-Governor in Lebanon. He has also served as economic adviser and director to a number of central banks and financial institutions in the Arab countries, Europe and Central and Latin America and brings tremendous insight into the financial sector.
Commissioned by MasterCard Worldwide and independently conducted bi-annually in selected markets in South Asia, Middle East and Africa (SAMEA) since 2004, the survey analyses consumers’ perceptions of economic conditions over the six months ahead. The MasterIndex has a range of 0 to 100 with 50 as the mid-point. A score above 50 reflects consumers’ optimism about the economic climate, while a score below 50 indicates pessimism about the economic situation.
The SAMEA markets surveyed are Egypt, Kuwait, Lebanon, Saudi Arabia, UAE, South Africa and India. In addition to assessing consumer sentiments in each of the selected countries for the next six months, the survey set up a benchmark mechanism to gather data in the future for comparison and to establish trends. The scores are based on respondents’ answers to questions relating to five key economic barometers: Employment, Economy, Regular Income, Stock Market and Quality of Life. The latest MasterIndex survey held across SAMEA is the sixth since the initiative started in this region. Similar MasterIndex surveys have been run across Asia Pacific for the last 14 years.
MasterIndex of Consumer Confidence covers economic forecasts that are of interest to Governmental agencies, and assist business influencers with strategic planning and executive decisions. The results can be monitored and measured over time making it possible to examine economic turning points.
Notes to media
This news release contains specific UAE relevant figures. Results of the MasterIndex of Consumer Confidence across the entire SAMEA region are available at www.mastercardintelligence.com. Graphs and illustrations for the MasterIndex™ of Consumer Confidence survey are available. Please contact Nicole Suter at GolinHarris, +9714 332 3308 Email:[email protected]
About MasterIndex
The MasterIndex survey of consumer confidence is the only one of its kind in the SAMEA region and has been conducted on a bi-annual basis since 2004. A similar MasterIndex survey has been conducted in the Asia Pacific region for the last 14 years and has proved to be an important barometer of consumer sentiment. The MasterIndex is calculated based upon percentage response figures, with zero as the most pessimistic, 100 as most optimistic and 50 as neutral. The MasterIndex of Consumer Confidence is the Mean Score of the Five Relative Indices. The Relative Indices measure the relative optimism of the respondents in Employment, Economy, Regular Income, Stock Market and Quality of Life. The Relative Indices are computed using the percent of optimistic replies divided by the percent of optimistic and pessimistic replies multiplied by 100. Using this method of computation, the Relative Indices will always be 50 if there are as many optimistic replies as pessimistic replies. The possible score ranges from 0 (most pessimistic) to 100 (most optimistic) with 50 denoting a situation of neutrality or implies no significant change is anticipated in consumer confidence over the next six months. To view the full set of results please go to www.masterintelligence.com.
MasterIndex information relates to consumer perceptions on economic trends only and does not constitute a projection of the business or financial performance of MasterCard Incorporated or its affiliates.
MasterIndex - respondent base
The survey was designed to gauge the perceptions of people who have the experience and means of engaging in a wide spectrum of activities which dictate the performance of the national economy. Thus respondents were amongst the ‘banked’ population (i.e., he/she had to have at least a savings account, or a home/auto loan, a plastic payment or ATM card) and were between the ages of 18-64. Data collection was conducted via personal and telephone interviews with the questionnaire translated to the local language wherever appropriate and necessary. The survey has a margin of sampling error of plus or minus four percentage points at the 90% confidence level.
About MasterCard Worldwide
MasterCard Worldwide advances global commerce by providing a critical economic link among financial institutions, businesses, cardholders and merchants worldwide. As a franchisor, processor and advisor, MasterCard develops and markets payment solutions, processes approximately 14 billion transactions each year, and provides industry-leading analysis and consulting services to financial institution customers and merchants. Through its family of brands, including MasterCard®, Maestro® and Cirrus®, MasterCard Worldwide serves consumers and businesses in more than 210 countries and territories. For more information, go to www.mastercardworldwide.com.
