The middle class in the Gulf countries has been hammered by the global financial crisis, according to estimates which show small investors have lost between 70 and 90 per cent of their investments in the regional stock markets.
When the stocks of some companies fell below the initial public offering (IPO) price by 80 per cent some small investors lost almost all their investments, while the losses were double for those who purchased the shares after the IPO.
The recent government measures, especially salary and wage raises, have compensated the middle class workers in government organisations, but the rest, including small investors, traders and the retired, still suffer from declines in their investment returns which comprise a large percentage of their annual income.
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