APAC’s Emerging Markets Consumers Are More Resilient Than Peers From Developed Economies

People in Asia Pacific remain optimistic on their overall well-being (62.1), with those in emerging markets (65.5), led by India (75), Philippines (73) and Indonesia (71.4), showing higher resilience and satisfaction than others in developed markets (56.7).

The latest Mastercard Well-Being Index, which surveyed 9,123 people across Asia Pacific, revealed that Hong Kong consumers’ regard for their overall well-being remained neutral in the second half of 2016. Since reaching a peak in the first half of 2014 (67.1, rank 6th), Hong Kong consumers’ regard for their overall well-being failed to gain ground, remaining indifferent at 58.6 in the second half of 2016 in the latest survey.

Hong Kong (58.6, ranked 11th) beat Taiwan (54.3, ranked 16th), Korea (52.1, ranked 17th) and Japan (50.4, ranked 18th) though it lagged behind mainland China (68.2, ranked 5th).

Of the four components covered by the study, ‘Work & Finances’ (+4.7 to 61.3) was the only one that progressed from ‘Neutral’ to ‘Optimistic’ in Hong Kong, underpinned by more upbeat outlook on ‘Regular Income’ (73.2) and ‘Employment’ (36.7), up 7.8 and 14.1 points, respectively.

Hong Kong people remain neutral in the three other components, including Safety from Threats (+1 to 57.8), Personal and Work Satisfaction (-0.1 to 59.2) and Personal Well-Being (-1.2, 56.3).

Chinese consumers mostly optimistic

Over the last six months, consumers in mainland China remained mostly optimistic over aspects of their personal, work, health, safety and financial lives (+0.1 to 68.2).

Although consumers in the mainland continue to feel more vulnerable towards financial and cyber-crimes, natural disasters and pollution, their outlook on ‘Regular Income’ (90.9), ‘Employment’ (77.6), safety from ‘Violent Crimes’ (66.4), ‘Five-Year Life Situation’ (76.5) and ‘Work-Life Balance’ (71.4) is among the highest in the region.

 

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