ibnlive » Business

Aug 29, 2006 at 05:15pm IST

East or West, Indian consumers best

Honk Kong: For the third year running, consumers in India are the world's most optimistic when it comes to their economic prospects, according to a survey released on Tuesday.

India topped the annual AC Nielsen Global Consumer Confidence poll with a score of 131 points out of 150, one point ahead of second-placed Norway, according to the market research company.

Managing Director of AC Nielsen, Hong Kong, Fanny Chan said, "India's booming economy shows no signs of slowing down, making the nation the world's most optimistic again.”

POSITIVE SIDE: According to the poll Indian consumers are the world's most optimistic. (AP)

Denmark, Ireland and Canada took the remaining places in the top five of 40 countries and territories surveyed by AC Nielsen while places six to 10 went to New Zealand, Australia, Malaysia, Hong Kong and Indonesia respectively.

Bottom spot in the survey was taken by South Korea where nine out of 10 consumers said it was not a good time to spend on the things they need. Taiwan and Japan also recorded low optimism scores.

Vietnam was the country where more consumers than anywhere else in the world were concerned about job security, with nearly three quarters saying it was their chief anxiety.

Globally, the biggest concerns cited by consumers were the economy (47 per cent of respondents), health (37 per cent) and job security (31 per cent), followed closely by the cost of paying off credit cards or loans.

"As to our home town Hong Kong (which ranked 9th overall), with the positive economic and business outlook, people have become more upbeat and positive in the first half of 2006," said Fanny.

Nearly 22,000 people were polled by Internet in May and June for the annual AC Nielsen survey.