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Consumer Confidence in Southeast Asia Rising

by: Sarah Joson

Friday, July 26, 2013 | Outsourcing News |

In a study done by polling group Nielsen, countries from Southeast Asia fared well in the rankings for the most confident based on their economic prospects. Indonesia was found to have the most confident consumers.

Increasing number of middle class consumers in Southeast Asia contributing to consumer confidence


The increasing number of consumers belonging to the middle class in Southeast Asia and its dynamic growth are contributing to the region’s rankings. Indonesia, the biggest country in the region, posted an index of 124, followed by the Philippines with 121. The average index score recorded by Nielsen’s Global Survey of Consumer Confidence is 94.

Meanwhile, India took the third spot, followed by Thailand, Brazil, China, United Arab Emirates, Hong Kong, Malaysia, and Saudi Arabia.

The survey aims to determine the economic outlook of consumers’ confidence in the job market, readiness to spend, and personal financial capability.

Over 29,000 from 58 countries took part in the survey which was held last May 13-31.

Vishal Bali, Managing Director of Nielsen’s Consumer Insights Business in Southeast Asia, said globally, consumers in the region are the most optimistic about the economic outlook. He added that minimum wages are increasing, caused by the influx of foreign investments and growing middle class.


Source:
http://ph.news.yahoo.com/

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