Indiantelevision.com Team

(29 January 2008 4:00 pm)

MUMBAI: India, which had topped the half-yearly Global Consumer Confidence Index conducted by the Nielsen Company five times in a row before, has moved to the second position with Norway being the first in the November 2007 survey.

In addition to India, Asia Pacific markets including Indonesia, Australia, Hong Kong, Vietnam, New Zealand and Singapore were all among the world's top 10 most optimistic - with Indonesia, Australia and Singapore registering an increase in consumer confidence levels - making Asia Pacific the most optimistic region worldwide.

Though the consumer confidence in India has dropped slightly, Indians are very optimistic about the local job prospects over the next twelve months. While 38 per cent Indian respondents consider job prospects in the country excellent, 57 per cent respondents consider the prospects good. With 95 per cent, Indians are the second most optimistic people where the job market is concerned over the next 12 months.

The study reports that the perception of healthy and promising job prospects for Indians over the next twelve months makes them confident about their personal finances over the same period. 14 per cent of Indian respondents consider their state of personal finances excellent, and 74 per cent consider it good in the next twelve months. This makes Indians the most optimistic people (88 per cent) in the matter of personal finances.

Saving for a rainy day is the most preferred option by more than half the respondents (54 per cent) after covering their essential living expenses. 51 per cent of Indians also invest in shares and mutual funds.

Interestingly, 34 per cent of Indians will spend on new clothes after spending on their essentials. Spending on holidays (33 per cent), home improvements and decor (30 per cent), new technology (29 per cent), out-of-home entertainment (28 per cent), paying off debts (28 per cent) are some other areas where Indians will spend their spare cash on.

Despite the fact that globally people are spending less and 13 per cent of global consumers have no spare cash after meeting their essential living expenses, only 4 per cent of Indians surveyed have no spare cash left with them, which is indicative of the improving financial condition in the country.

The latest survey, conducted from October to November, polled about 26,312 Internet users in 48 markets from Europe, Asia Pacific, North America and the Middle East.