Indians, optimistic about its economy in 2013: Ipsos Study

A strong majority of Indians (91%) expect 2013 will be a better year than 2012, according to a 23-country poll by global research company Ipsos.

Out of which (49% strongly agree, 42% somewhat agree) that they are ‘optimistic that 2013 will be a better year for them than it was in 2012. However, less than a half (47%) people though that 2012 was financially a bad year for them and their family.

"There is a great amount of optimism for the future among Indian citizen," said Biswarup Banerjee, Head of Marketing Communication, Ipsos in India, adding that the number had jumped 8 percent since last year.

Indians appear to be channeling that optimism by taking their fates into their own hands. Nine in ten (90%) planned to have personal new year’s resolutions for 2013, and 53% of respondents selected ‘improve their financial situation’ as the item they most want to do in 2013. Only a small proportion would rather ‘spend more time with friends and family’ (14%), ‘improve their health’ (15%) or ‘travel to other countries’ (17%).

While many still had doubts about the world economy, 80 percent of the 18,500 people questioned in 23 countries for the survey believed 2013 would be a better year for them personally.
The Ipsos poll revealed that Indians, Brazilians and Indonesians were the most optimistic that the economy will improve in 2013, with more than three quarters giving it a thumbs up.
But less than a third of Belgians, Spaniards, French, Poles and Italians were confident the global economy will get better.

Optimism for 2013 is high…economic optimism higher, too

A strong majority of global respondents (80%) agree (35% strongly, 44% somewhat) they are ‘optimistic that 2013 will be a better year for them than it was in 2012.’ Only 20% disagree (5% strongly, 15% somewhat). This positive spirit reigns high across the world, as over half of those in every country surveyed agree with the statement. Indonesia (96%) appears to have the largest proportion of optimists, followed by Mexico (94%), Brazil (94%), India (91%) and Argentina (91%). In those countries, half or more ‘strongly’ agree 2013 will be a better year.
Optimism has grown considerably since last year. In fact, this figure represents an improvement of eight points over this time last year, driven by Hungary (+24 points to 80%), Italy (+19 to 64%), Sweden (+17 to 72%), Great Britain (+12 to 70%) and Turkey (+11 to 78%).

This improvement is mirrored by increased positive attitudes towards the possibility of a stronger global economy next year. Almost half (49%) agree ‘the global economy will be stronger in 2013 than it was in 2012’ (9% strongly, 39% somewhat), the measure improved eight points this year over last. Half (51%) disagree (14% strongly, 38% somewhat). Agreement with the statement is highest in India (78%), Brazil (78%), Indonesia (77%) and Mexico (73%). It is lowest in France (23%), Belgium (27%), Italy (29%) and Poland (29%), where less than three in ten agree.
The eight-point improvement at the aggregate level is driven by positive shifts in Argentina (+26 points to 63%), Mexico (+22 to 73%), Sweden (+21 to 43%), Hungary (+18 to 38%) and Australia (+15 to 53%).

The Optimism May Not Be Universal…

Half of those surveyed appear quite ready to leave 2012 behind them, as 52% agree (19% strongly, 33% somewhat) that ‘2012 was a bad year for me and my family.’ The other half (48%) disagrees (16% strongly, 33% somewhat). 2012 appears to have been a particularly bad year for respondents in Hungary (74%), Spain (72%), Mexico (71%), South Korea (65%), Argentina (61%) and Poland (60%).

On the global aggregate level, family troubles are undoubtedly correlated to economic confidence. Those rating the economy in their country as ’bad’ are significantly more likely to agree (59%) 2012 was hard for their family than those who rate their economy as ‘good’ (40%).

…But People Are Taking Matters in Their Own Hands

The vast majority of global citizens (80%) agree ‘I will make some personal resolutions to do some specific things for myself or others in 2013’ (33% strongly, 46% somewhat). Half (55%) respond that in 2013 they most want to ‘improve their financial situation’ and only a small proportion of respondents indicate in 2013 they would rather ‘spend more time with friends and family’ (16%), ‘improve their health’ (14%) or ‘travel to other countries’ (12%).