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Main » 2013 » December » 12 » GCC Energy Subsidies – Lowest Tariffs Lead to Highest Ranks in CO2 Emissions in The World, Consumers Should be Made Aware
3:56 PM GCC Energy Subsidies – Lowest Tariffs Lead to Highest Ranks in CO2 Emissions in The World, Consumers Should be Made Aware |
ME Newswire
Dubai,united Arab Emriates - Thursday, December 12th 2013
70% of consumers feel that governments can clearly afford to subsidize prices since the countries are very rich in natural resources
60% declare unawareness regarding the magnitude of low subsides which is striking given the large difference in tariffs between GCC and the rest of the world
The majority of consumers (70%) do not actually state a feeling of benefit from the low prices/subsidies
55% of interviewed consumers agree that energy consumption should be reduced via an increase in prices
An increase of 10% in prices is stated as acceptable by around half of the people across GCC
Subsidies in the GCC put an increasing burden on government's budgets, however, approx. 70% of consumers feel that governments can clearly afford to subsidize prices since the countries are very rich in natural resources.
Awareness of GCC consumers regarding the level of subsidies, the perceived benefit attached to it from a consumers point of view and other elements such as environmental concerns or investment in education that would justify a change in subsides are some of the topics covered in in Roland Berger Strategy Consultants' latest consumer survey conducted across several GCC countries including the United Arab Emirates, Saudi Arabia, Qatar, Bahrain and Kuwait. With 1,300 consumer interviews, the report analyzes insights and attitudes regarding pricing and consumption on gasoline and utilities subsidies.
"Energy subsidies in the GCC are becoming increasingly unsustainable, both from a fiscal and an environmental perspective", said Jaap Kalkman, Senior Partner and Head of Energy at Roland Berger.
A revision of the current subsidy scheme and related policies to find sustainable levels, increasing awareness and creating appreciation as well as limitation of consumption and waste levels are some of the main challenges the government is faced with today.
Dorit Posdorf, Principal at Roland Berger Middle East said, "more insights and dedicated strategies are required to tackle challenges created by the current way subsidies are positioned and handled".
Execution of extended consumer surveys to gain broader understanding, integration of international best-practice learnings, elaboration of marketing/public relations campaigns and development of programs and policies are possible actions required to tackle the issues.
The results of the GCC market study referenced here are only a small sample of the information available. Based on the substantial data gathered, tailored analytics to companies operating in the telecommunications, financial services and retail industry can be made available upon request.
Roland Berger Strategy Consultants, founded in 1967, is one of the world's leading strategy consultancies. With 2,700 employees working in 51 offices in 36 countries worldwide, we have successful operations in all major international markets. The strategy consultancy is an independent partnership exclusively owned by around 250 Partners.
Contacts
Roland Berger Strategy Consultants
Mia Mutic
+971-50-9105302
mia.mutic@rolandberger.com
www.rolandberger.com
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