The overall index score of the number of Saudi women believing that they have a tight handhold on the family purse strings fell to 26 percent this year from 59 percent last year. The overall index also decreased to 81.41 from 88.40 in 2009.

The results of the index are based on indicators measuring the distance between women and men in specific market categories and how it compares to achievements made by Saudi women in socioeconomic parity with men. A score under 100 indicates inequality; a score of 100 represents socioeconomic parity between genders.

Ironically, a major percentage of women perceive themselves in managerial positions (140 women per 100 men across the region compared to 90 women per 100 men in 2009). Still, the proportion of women to men in terms of labor force participation rates increased only slightly, from 24 to 25, while tertiary education enrollment rates decreased from 136 in 2009 to 132 this year.

Compared to 2009, a significantly decreasing portion of Saudi women to men now perceive themselves to be earning above median income (29 women per 100 this year compared to 104 women to 100 men last year).

Nonetheless, Saudi women are slightly economically less confident about the next six months, with a 83 on the index compared to their male counterparts at 84.3. The index components measured for the consumer index included employment (86.9), the economy (87.9), regular income (90.9), the stock market (59.2) and quality of life (90.2).

“The results for the 2010 MasterCard Worldwide Index of Women’s Advancement show that there is a significant increase in the number of women in Saudi Arabia who perceive themselves to be in managerial positions. It is encouraging to see this trend,” said Alhamedi Alenezi, vice president and country manager, KSA, MasterCard Worldwide.

Addressing women in the Middle East as financial decision makers and their spending priorities, the index found that across the Middle East women who are financial decision makers are usually between the ages of 46-55.

However, in Saudi Arabia the female household financial decision maker is typically aged between 31-55 and plans to maintain her level of spending and saving over the next six months in terms of purchasing priorities on white goods, household items, followed by fashion and accessories.

Across the Middle East, four out of six markets surveyed reported an increase in the number of women seeing themselves as making most of the major financial decisions in their household, with Qatar increasing to 26.6 percent and Kuwait increasing to 14.5 percent. Saudi Arabia decreased 2.2 percent and the UAE fell by 7.5 percent compared to last year.