Confident market, high job hopes
The Philippines is now home to the second most confident consumers in the world, according to the results of a recent study conducted by Nielsen.
The Nielsen survey of consumer confidence and spending intentions showed that the Philippines recorded a three point surge in the second quarter of the year with an index of 121 after registering a consumer confidence indexed at 118 in the first quarter.
Nielsen said that this is the highest consumer confidence index for the Philippines since the fourth quarter of 2010 when it recorded an index of 120.
It also placed Filipinos as the world’s second most confident consumers after Indonesia, after being ranked third during the first quarter of the year.
Thailand, Malaysia, Vietnam and Singapore were placed behind the Philippines with an index of 114, 103, 95 and 95, respectively.
Nielsen said that the Philippines’ continued display of economic resilience and on-going growth reflected why Filipino consumers remain as one of the world’s most optimistic.
“The high confidence levels continue to sweep across Southeast Asian consumers compared to the rest of the world,” said Stuart Jamieson, managing director at Nielsen Philippines.
“Similar to its neighbors in Southeast Asia, foreign investments are coming in and a growing number of consumers are entering the middle class in the Philippines, driving the positive outlook we are observing,” Jamieson added.
The Nielsen survey further revealed that more Filipinos believe that their prospects of landing jobs will be better in the next 12 months.
Nielsen said that Filipino respondents are the most positive about local job prospects over the next year with 77 percent saying that local job prospects are excellent or good.
This makes Filipino consumers the most optimistic in the world on local job prospects followed by Indonesia at 75 percent and India 71 percent.
Meanwhile, the survey also revealed that Filipinos are among the world’s biggest savers as seven out of 10 or 70 percent of respondents said that they are saving their spare cash.
Filipinos join an all-Asian list of the top 10 savers in the world as Indonesians top the list with 71 percent of respondents said that they save after covering essential items.
The other top savers include Hong Kong (70 percent), Vietnam (68 percent), Thailand (63 percent), China, Japan, Taiwan and Malaysia (61 percent) and Singapore (60 percent).
The survey further showed 19 percent of Filipino respondents said they utilize their spare cash to invest in shares and mutual funds.
“Despite the general optimism that Filipinos are feeling they are still protecting themselves against future fluctuations in the global economy and other external factors. The increase in disposal income gives them opportunities to consider augmenting their savings and investing in mutual funds,” said Jamieson.
“The decision on Filipino consumers on how they will spend their cash will remain to be strongly influenced by caution as financial security continues to be a high priority,” Jamieson added.
The Nielsen Global Survey of Consumer Confidence and Spending Intentions was conducted between February 17 and March 8, 2013, and polled more than 29,000 online consumers in 58 countries throughout Asia-Pacific, Europe, Latin America, the Middle East, Africa, and North America.
Malaya Business
Wednesday, 24 July 2013 00:00
Written by RICHMOND MERCURIO
The Nielsen survey of consumer confidence and spending intentions showed that the Philippines recorded a three point surge in the second quarter of the year with an index of 121 after registering a consumer confidence indexed at 118 in the first quarter.
Nielsen said that this is the highest consumer confidence index for the Philippines since the fourth quarter of 2010 when it recorded an index of 120.
It also placed Filipinos as the world’s second most confident consumers after Indonesia, after being ranked third during the first quarter of the year.
Thailand, Malaysia, Vietnam and Singapore were placed behind the Philippines with an index of 114, 103, 95 and 95, respectively.
Nielsen said that the Philippines’ continued display of economic resilience and on-going growth reflected why Filipino consumers remain as one of the world’s most optimistic.
“The high confidence levels continue to sweep across Southeast Asian consumers compared to the rest of the world,” said Stuart Jamieson, managing director at Nielsen Philippines.
“Similar to its neighbors in Southeast Asia, foreign investments are coming in and a growing number of consumers are entering the middle class in the Philippines, driving the positive outlook we are observing,” Jamieson added.
The Nielsen survey further revealed that more Filipinos believe that their prospects of landing jobs will be better in the next 12 months.
Nielsen said that Filipino respondents are the most positive about local job prospects over the next year with 77 percent saying that local job prospects are excellent or good.
This makes Filipino consumers the most optimistic in the world on local job prospects followed by Indonesia at 75 percent and India 71 percent.
Meanwhile, the survey also revealed that Filipinos are among the world’s biggest savers as seven out of 10 or 70 percent of respondents said that they are saving their spare cash.
Filipinos join an all-Asian list of the top 10 savers in the world as Indonesians top the list with 71 percent of respondents said that they save after covering essential items.
The other top savers include Hong Kong (70 percent), Vietnam (68 percent), Thailand (63 percent), China, Japan, Taiwan and Malaysia (61 percent) and Singapore (60 percent).
The survey further showed 19 percent of Filipino respondents said they utilize their spare cash to invest in shares and mutual funds.
“Despite the general optimism that Filipinos are feeling they are still protecting themselves against future fluctuations in the global economy and other external factors. The increase in disposal income gives them opportunities to consider augmenting their savings and investing in mutual funds,” said Jamieson.
“The decision on Filipino consumers on how they will spend their cash will remain to be strongly influenced by caution as financial security continues to be a high priority,” Jamieson added.
The Nielsen Global Survey of Consumer Confidence and Spending Intentions was conducted between February 17 and March 8, 2013, and polled more than 29,000 online consumers in 58 countries throughout Asia-Pacific, Europe, Latin America, the Middle East, Africa, and North America.
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