| To market your business to the Middle East population effectively, it’s important to understand the spending pattern of people living in different regions. This way, you can concentrate more on those parts where there is a constant demand of your products or services and people don’t shy away from buying what they need. Knowing the spending pattern of people in the ME region will also help you to plan from where your investment in advertising can help you reap rich benefits.
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A lot of disparity is seen when you consider various ME countries and the purchasing power of their people. In some countries like Iraq, Kuwait and Jordan, the society is driven by a handful of individuals who own all the wealth. Despite the rising economic development and investment that has started coming into the Middle East countries, wage inequality remains as much of the employment generated during the phase has been for unskilled labors. If an average ME household wishes to spend significantly on non-essential goods and enjoy a middle class lifestyle, a monthly disposable income of at least US $833 would be required, which most ME regions don’t have. However, with the steady development of the region, growing investment in infrastructure and influx of oil wealth, the spending pattern is poised to grow in the future.
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Still, some people want to signal a caution as they believe that the decreasing fertility rate and improving life expectancy of people in the region is going to affect the public's purchasing power adversely, as the ageing population of the next decade will get dependent on the working class, thus diminishing the labor force. So, businesses planning to tap into the Middle East market should keep both the bright as well as the forecasted bleak scenario in mind while making their strategies.
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