Given the worsening economic conditions in Syria, we’re seeing unusual and varied consumer behaviours across different social segments. This disparity underscores the severity of the economic crisis and reveals a significant divide between social classes. While some are focused on survival, others persist in pursuing recreational and luxury lifestyles.
The poor class: Fight for survival
Economic researcher Dr. Alaa al-Asfari highlighted in his interview with Hashtag Syria that the impoverished class comprises about 95% of the Syrian population. This vast majority faces immense economic pressures, struggling to meet their basic needs for food, medicine, and housing, leaving no room for luxury or indulgence.
Dr. Asfari notes that many in this group work long hours, often exceeding 16 hours a day, just to achieve a minimal standard of living. Consequently, they accumulate loans and debts, trapping them in a relentless cycle of work and financial strain.
The rich class: Luxury consumption amid the crisis
In contrast, the wealthy class in Syria appears largely unaffected by the economic decline. Dr. Alaa Asfari notes that this disparity is evident in everyday scenes: modern 2024 model cars and advanced electric vehicles can be seen on the streets.
Expo Syria 2024: A Showcase of Resilience and Economic Revival
This affluent class frequents luxury restaurants and exhibits a consumer lifestyle characterized by significant spending on high-end goods. Women from this group are particularly noted for their consumption of luxury products and cosmetics, highlighting a lifestyle that starkly contrasts with that of the impoverished.
Dr. Asfari also observed that some Syrians rely on foreign aid from relatives or friends abroad. Members of this group tend to engage in conspicuous consumption, investing in the latest mobile phones and cosmetics. According to Asfari, this segment lacks guidance on how to invest their money in small projects, largely due to the complex and bureaucratic challenges involved in starting businesses in Syria.
The Class Benefiting from Foreign Remittances: Orientation towards Luxuries
Dr. Asfari noted that a segment of Syrians relies on foreign aid from relatives or friends abroad.
He observed that members of this group exhibit direct consumer behavior, often spending on the latest mobile phones and cosmetics. According to Asfari, they lack guidance on investing their money in small projects, primarily due to the complex and bureaucratic hurdles associated with establishing businesses in Syria. These barriers include stringent customs regulations and high taxes, which discourage many from investing for fear of potential losses.
Consumer chaos and inflation affect everyone
Dr. Asfari described the consumer reality in Syria as chaotic and unprecedented, with severe inflationary pressures severely impacting the Syrian pound.
These pressures have driven many people to adopt extreme austerity measures, resulting in unusual market practices, such as selling eggs individually and watermelons by the piece. According to Asfari, these practices not only reflect a significant reduction in purchasing power but also highlight the overwhelming inflation burdening citizens. He emphasized the urgent need for a comprehensive economic plan to address consumer pressures and improve economic conditions.
This article was translated and edited by The Syrian Observer. The Syrian Observer has not verified the content of this story. Responsibility for the information and views set out in this article lies entirely with the author.
