Some See Upside Of Recession

Tools

KAUZ News

SINGAPORE (Reuters) – It seems the financial crisis isn't all doom and gloom: one in four people are glad the world's economy slumped like it did, because it helped them realize their priorities in life, according to a global survey.

Market research firm Synovate polled around 11,400 people across the world and found more than half had permanently changed their attitudes toward money over the last 12 months.

Another 47 percent, however, said they were looking forward to being able to spend freely again.

"The psychology of global recession has changed the way many people do things," Jenny Chang, Synovate's managing director in Taiwan, said in a statement.

"They are making life-altering decisions based on the current global recession, be it postponing marriage, having children, moving house, changing jobs or pursuing higher education. Even in a relatively impact-free economy like Taiwan's."

A quarter of all respondents led by Malaysians said they were glad the world had an economic crisis as it has helped them realize what's really important in their lives.

Nearly 60 percent said they would try their best to keep a tight rein on their spending so that it doesn't go back to what it used to be before the downturn, and over two-thirds are more interested in boosting their savings than reducing their debt.

"The credit crunch has been felt, and it has reinforced the family values of Malaysians, helping them to appreciate what they have rather than continually strive for more," said Steve Murphy managing director of Synovate in Malaysia, Steve Murphy.

The majority of respondents -- over 80 percent -- believed their generation had a responsibility to leave their country better off for the younger generation, even if it involves dramatically altering their lifestyles.

The survey showed that one in five people had put off an overseas trip in the last six months, 6 percent had delayed having a baby and another 5 percent had even postponed surgery until things got better.

And with the United States' economy still trying to shake off the credit crunch, Synovate's U.S.-based Claire Peerson Braverman said Americans, compared to other nationalities, were having to make some of the most difficult decisions concerning money.

"With the relatively high unemployment in the U.S., those Americans who have lost one or more incomes in the family are making very difficult decisions each day ... which bills do, and don't, get paid," she said.

Synovate, the market research arm of Aegis Group, surveyed 11,400 people in August across 16 markets: Australia, Brazil, Canada, Denmark, France, Hong Kong, India, Malaysia, New Zealand, Russia, Serbia, South Africa, Spain, Taiwan, Britain and the United States.

More details at www.synovate.com.

Monday, Nov 2 at 6:37 AM jc wrote ...

GET IN THE REAL WORLD people. Prices were higher so therefore it is only natural that economic gains would be seen. Our economy is not any better and just look around you and you can see it for yourself. Government wants to make believe, but we as citizens know the reality. Government is jus whitewashing it.

Add a comment

Name:

Comment: 500 Characters Left

KAUZ News Channel 6 and its affiliated companies are not responsible for the content of comments posted or for anything arising out of use of the above comments or other interaction among the users. We reserve the right to screen, refuse to post, remove or edit user-generated content at any time and for any or no reason in our absolute and sole discretion without prior notice, although we have no duty to do so or to monitor any Public Forum.

More Good Stuff

Weather

Icon
Current Temp : 48.0 °
Fog
More Weather
High: Saturday -64
Low: Tonight - 42
Conditions Today
Mostly cloudy tonight. Increasing sunshine over the weekend.

KAUZ Poll Question

Would you vote for or against a same-sex couple for homecoming court?

  • For
  • Against

AP Video

Stock Quotes

This content requires the latest Adobe Flash Player and a browser with JavaScript enabled. Click here for a free download of the latest Adobe Flash Player.

What's On KAUZ

7.00
the mentalist
8.00 & 9.00
48 hours mystery