Indian Consumers Remain Most Optimistic About Well-Being: Mastercard Well Being Index 2017  

India leads Asia Pacific in terms of consumer well-being at 75 points for H2, 2016

To Tweet: #Indianconsumer remain most optimistic about well-being: #Mastercard Well Being Index 2017. Read more:http://news.mstr.cd/2nDLQrW

 

India – March 27, 2017 – While 2016 has witnessed frequent socio-political changes, it seems to have ended on good for the Indian consumer at large. According to the latest Mastercard Well-Being Index (H2 2016) for Asia Pacific, Indian consumers are most optimistic about overall well-being, making India the only entrant in the very optimistic level in the survey series’ history. India’s optimism seems to be driven by the consumers’ upbeat sentiment over the robust pace of economic growth and stable macroeconomic fundamentals, besides their ability to adapt to stress and challenges.

 

The study covered four key components: Work and Finances, Safety from Threats, Personal and Work Satisfaction and Personal Well-Being. Out of these, consumers in India showed extreme optimism in terms of personal & work satisfaction (83.0) and also felt safe from threats (78.7).

People in Asia Pacific at large remain optimistic towards their overall well-being (62.1), with those in emerging markets (65.5), led by India, Philippines and Indonesia, showing higher resilience and satisfaction as compared to the developed markets (56.7). The Asia Pacific region felt most satisfied with their personal and work life (65.5), buoyed by strong fulfilment amongst consumers in emerging markets such as India (83.0), Philippines (78.2), Myanmar (75.4), Vietnam (72.7), China (71.3), Indonesia (71.1) and Thailand (70.2). 

 

Georgette Tan, Senior Vice President, Communications, Asia Pacific, Mastercard said, “India’s high well-being score correlates with the growing GDP rates. The strong opportunities for growth can instill optimism and hope for the future. Such insights are crucial to Mastercard’s work in India where we’re committed to driving inclusive growth. It gives us a holistic view that complements economic activity, and provides us with a clearer understanding of the progress to be made.” 

 

Across the board, of all four components, people in Asia Pacific were most concerned about their safety from threats (57.6), with those in Myanmar (43.5), Bangladesh (46.6) and Japan (46.9) having felt the most vulnerable. This apprehension was caused mainly by fear of cybercrimes (54.0) and financial crimes (55.0). On the other hand, people in emerging markets, led by India (78.7), Philippines (64.5) and Indonesia (64.3) are the least concerned about their overall safety.

 

Overall Well-Being Index, Country Scores:

 

1. India

75.0

6. Thailand

66.1

11. Hong Kong

58.6

16. Taiwan

54.3

2. Philippines

73.0

7. Myanmar

64.6

12. Singapore

58.6

17. Korea

52.1

3. Indonesia

71.4

8. Cambodia

63.9

13. Sri Lanka

56.6

18. Japan

50.4

4. Vietnam

71.4

9. New Zealand

63.5

14. Bangladesh

55.5

 

5. China

68.2

10. Australia

59.6

15. Malaysia

54.9

 

 

 

Average for AP

62.1

Average for Developed AP

56.7

Average for Emerging AP

65.5

 

Well-Being Index – Work & Finances Component, Country Scores:

 

1. Vietnam

81.5

6. New Zealand

71.7

11. Australia

60.4

16. Singapore

52.7

2. Philippines

79.2

7. Myanmar

66.9

12. Japan

59.5

17. Malaysia

51.9

3. Indonesia

77.2

8. Thailand

65.9

13. India

56.0

18. Sri Lanka

50.3

4. China

75.3

9. Bangladesh

65.0

14. Korea

53.9

 

5. Cambodia

71.8

10. Hong Kong

61.3

15. Taiwan

52.9

 

 

 

Average for AP

64.1

Average for Developed AP

58.9

Average for Emerging AP

67.3

 

Well-Being Index – Safety from Threats Component, Country Scores:

 

1. India

78.7

6. Thailand

63.1

11. Cambodia

56.8

16. Japan

46.9

2. Philippines

64.5

7. China

60.3

12. Taiwan

55.5

17. Bangladesh

46.6

3. Indonesia

64.3

8. Australia

59.8

13. Sri Lanka

51.8

18. Myanmar

43.5

4. Singapore

64.2

9. Vietnam

59.4

14. South Korea

50.9

 

5. New Zealand

63.4

10. Hong Kong

57.9

15. Malaysia

48.5

 

 

 

Average for AP

57.6

Average for Developed AP

56.9

Average for Emerging AP

57.9

 

Well-Being Index – Satisfaction Component, Country Scores:

 

1. India

83.0

6. Indonesia

71.1

11. Sri Lanka

61.7

16. Taiwan

56.8

2. Philippines

78.2

7. Thailand

70.2

12. Singapore

60.8

17. South Korea

55.7

3. Myanmar

75.4

8. Cambodia

68.3

13. Malaysia

60.4

18. Japan

49.7

4. Vietnam

72.7

9. New Zealand

65.4

14. Hong Kong

59.2

 

5. China

71.3

10. Australia

62.7

15. Bangladesh

57.1

 

 

 

Average for AP

65.5

Average for Developed AP

58.6

Average for Emerging AP

69.9

 

Well-Being Index – Personal Well-Being Component, Country Scores:

 

1. India

82.6

6. China

65.7

11. Singapore

56.7

16. Taiwan

52.2

2. Indonesia

73.2

7. Thailand

65

12. Hong Kong

56.3

17. South Korea

47.9

3. Myanmar

72.6

8. Sri Lanka

62.7

13. Australia

55.2

18. Japan

45.7

4. Vietnam

72

9. Malaysia

59

14. New Zealand

53.6

 

5. Philippines

70.1

10. Cambodia

58.9

15. Bangladesh

53.4

 

 

 

Average for AP

61.3

Average for Developed AP

52.5

Average for Emerging AP

66.8

 

Methodology

The latest Mastercard Well-Being Index is based on a survey conducted between November 2016 and December 2016 on 9,123 consumers aged 18 – 64 in 18 Asia Pacific countries.

                               

Consumers were asked 17 questions pertaining to four components. The results of their responses were converted into sub-indexes, which were subsequently averaged to form the Mastercard Well-Being Index score. The scores range from 0 – 100 where 0 represents the maximum negative response, 100 represents the maximum positive response and 50 represents neutrality.

 

Category

Question Subject

Questions Asked

Work and Finances

Regular Income

Do you expect your regular income including bonuses and fringe benefits to increase, remain same or worse over the next 6 months?

Employment

Do you expect the employment situation to be better, remain the same or worse over the next 6 months?

Keeping Up With Bills

I often have problems keeping up with my bills and credit commitments

Saving For Big Purchases

I often have problems with setting money aside for big purchases

Safety from Threats

Violent Crime

I feel safe from the threat of violent crime and assault in my country.

Financial Crime

I feel safe from the threat of financial crime like snatch thefts and burglary in my country.

Cyber Crime

I feel safe from the threat of cybercrime and identity theft in my country.

Disease Outbreak

I feel safe from a serious disease outbreak in my country.

Natural Disaster/Pollution

I do not feel that my personal sense of well-being is compromised by environmental problems like pollution, flooding and natural disasters.

Satisfaction

Present Life Situation

I am completely satisfied with my life situation today

5 year Life Situation Expectation

I anticipate that my life situation will be better than it is today in 5 years.

Work-Life Balance

I am satisfied with the balance between the time I spend on my paid work/school and the time spend on other aspects of my life.

Work/Role in Life Satisfaction

I am satisfied with the work I do/ being a student (role at home if not working or studying)

Personal Well Being

Family Stress

I have had no emotional/mental stress level from family obligations/family life over the past year.

Work Stress

I have had no emotional/ mental stress level from work/school over the past year.

Health

My health is at its best condition.

Financial Stress

I have had no financial stress level in the past year.

 

Mastercard and its Suite of Research Properties

The Mastercard Index suite in Asia Pacific includes the long-running Mastercard Index of Consumer Confidence, as well as the Mastercard Index of Women’s AdvancementMastercard Index of Financial Literacy, and the Mastercard Index of Global Destination Cities. In addition to the indices, Mastercard’s research properties also include a range of consumer surveys including Online ShoppingEthical Spending and a series on Consumer Purchasing Priorities (covering TravelDining & EntertainmentEducationMoney Management, Luxury and General Shopping).

 

About Mastercard

Mastercard (NYSE: MA),www.mastercard.com, is a technology company in the global payments industry.  We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories.  Mastercard products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone.  Follow us on Twitter@MastercardAP and@MastercardNews, join the discussion on the Beyond the Transaction Blog andsubscribe for the latest news on the Engagement Bureau.

 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s