Indians most optimistic about economy: Survey

January 13th, 2009 - 8:55 pm ICT by IANS  

New Delhi, Jan 13 (IANS) Amid a worldwide economic downturn, Indians have emerged as the most optimistic lot as people who think that their country will climb out of recession in the next 12 months, a survey said. “Despite the global economic recession, about 51 percent Indians, the highest in the world, seem to be quite confident of the economy picking up in the near future,” said Sonia Pall, Executive Director in Consumer Research at The Nielsen Company, which conducted the survey.

The survey was conducted during the second half of 2008 among more than 26,000 consumers in 52 global markets in the midst of the global financial crisis.

India was followed by Brazil and China in optimism about their economy.

“Most of the Indians believe that the global recession will have limited impact on India where the domestic market is believed to be large enough to support continued growth,” she said.

“After economy, almost 24 percent Indians find terrorism as a major concern. Terrorism also figured as a global concern in the survey.”

While the intention of Indians to spend on personal comforts such as new clothes, home improvements, decorating and technology products is stronger compared to the global average, their intention to spend on holidays is much lower.

“Holidays and vacations have in fact experienced a steep drop from 37 percent in the last survey to 27 percent this time round. It shows that Indians are less inclined to travel under the current circumstances and are even likely to cut down on their travel expenditure,” Pall said.

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