What The World Feels About Saving
Europe may slip deeper into recession this year
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Last Updated: Jan 24, 2012, 06:53 IST1 min
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The global slowdown that began in 2008 is not letting up. There is talk that Europe may slip deeper into recession this year. Yet, Dutch bank ING has found in a survey, Indians are least troubled by the worldwide economic turmoil. The survey, released exclusively to Forbes India by ING Vysya Bank, probed whether the average individual or household is prepared for another period of pain. IndiaSaving More: 34*Saving Less: 45No Effect: 21Food is what most Indians spend on—50 percent of their incomes, as do most Italians. Germany and the Netherlands spend most on housing.
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GermanySaving More: 17Saving Less: 32No Effect: 51Indians, Germans and the Dutch say their financial position has remained the same or has improved in the current economic scenario.
CanadaSaving More: 17Saving Less: 48No Effect: 35Women are more likely to be uncomfortable with their accumulated savings. The exception is India where men are more highly represented.
USASaving More: 17Saving Less: 49No Effect: 34The percentage of people comfortable with their savings is in the range of 18 to 20 in Canada, the US and the UK.
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UKSaving More: 11Saving Less: 52No Effect: 37Most economists consider shrinking debt as ‘savings’ while respondents don't agree. So, the number of people saving less is still high.
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ItalySaving More: 18Saving Less: 65No Effect: 17In Italy, Spain and Romania most respondents say that their financial position is weak because prices are rising faster than incomes.*All figures in percentSource: ING International Survey (IIS) on savingsCompiled by Abhishek Raghunath
First Published: Jan 24, 2012, 06:53
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