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CONSUMER OUTLOOK

Four in 10 expect their disposable income to fall over next year

By our News Team | 2022

New polling by Ipsos across 28 countries finds that in many markets the public expect recent cost of living pressures to continue. 

According to a new poll by research company Ipsos, a Global Country Average of 40% of consumers say they expect their disposable income to fall over the next year. 

This is larger than the proportion who expect their disposable income to stay the same (31%) or increase (22%).

Expectation of falling incomes is highest in Turkey (58%), France (55%), Great Britain (54%) and Hungary (50%), where at least half agree this will be the case.

Consumer Outlook

Photo by Cup of Couple from Pexels

By contrast, the countries which are most optimistic about their disposable income rising are India (48%), Saudi Arabia (42%) and South Africa (40%), although in all three of these countries the sample reflects a more affluent segment of society.

The study also finds those living in Latin America are more likely to report struggling with the cost of living. Across the 28 countries, three in 10 people report finding it difficult to get by financially (29%) and the same proportion say they are just about getting by (30%). 

Latin Americans are particularly concerned

Argentinian citizens are the most likely to be struggling, with two thirds (66%) finding it difficult to get by. While people in Turkey are close behind on 64%, the rest of the top five countries reporting financial challenges are also from Latin America: 51% in Chile, 49% in Brazil and 48% in Peru.

At the other end of the scale, just over one in 10 of the global public feel they are living comfortably, including 28% of Chinese citizens and 27% of Swedes.

Three quarters of the global public are concerned about the cost of goods and services increasing over the next six months (77%). This includes 91% of Hungarians, 88% of those in South Africa and 86% of Argentines. Even in China where the concern is lowest, 45% say this is a worry over the next half year.

Other areas of significant public concern include:

  • 56% are concerned about their ability to pay energy bills: emerging markets top the list with 79% of South Africans and 73% of Indians saying they see this as a concern, followed by Turkey (71%) and Argentina (70%) and Chile (69%). Among established economies, concern about energy bills is highest in Great Britain, where 67% are worried about their ability to pay utility bills.
  • 54% worry about their ability to buy the things they are used to buying, led by Turkey (80%), South Africa (73%) and Argentina (69%). The Chinese (28%) and Dutch (33%) are least likely to say they are concerned about this.
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    Dr Kin Kariisa

    Group CEO - Next Media

    Dr. Kin Kariisa is an extraordinary force at the helm of Next Media Services, a conglomerate encompassing NBS TV, Nile Post, Sanyuka TV, Next Radio, Salam TV, Next Communication, Next Productions, and an array of other influential enterprises. His dynamic role as Chief Executive Officer exemplifies his unwavering commitment to shaping media, business, and community landscapes.
    With an esteemed academic journey, Dr. Kariisa’s accolades include an Honorary PhD in exemplary community service from the United Graduate College inTexas, an MBA from United States International University in Nairobi, Kenya, a Master’s degree in Computer Engineering from Huazong University in China, and a Bachelor’s degree in Statistics from Makerere University.
    Dr. Kariisa pursued PhD research in Computer Security and Identity Management at Security of Systems Group, Radboud University in Nijmegen, Netherlands. As a dynamic educator, he has shared his expertise as a lecturer of e-Government and Information Security at both Makerere University and Radboud University.

    Dr Kin did his PhD research in Computer Security and Identity Management at Security of Systems Group, Radbond University in Nigmegen, Netherlands. He previously served as a lecturer of e-Government and Information Security at Makerere University in Kampala, Uganda and Radbond University in Netherlands.

    Dr Kin did his postgraduate courses in Strategic Business Management, Strategic Leadership Communication and Strategies for Leading Successful Change Initiatives at Harvard University, Boston USA.

    • Other current and previous roles played by Dr Kin Kariisa:
    • Lecturer of e-Government and Information Security to graduate students at Makerere University, Kampala and Radbond University in the Netherlands
    • Director of Eco Bank Uganda Limited, one of the largest banks in Africa
    • Chairman of the National Association of Broadcasters, an umbrella industry association for all Television, Radio and online broadcasters in Uganda.
    • Chairman of Board of Directors of Nile Hotel International, that owns the leading hotel in Uganda, Kampala Serena Hotel.
    • Chairman of Board of Directors of Soliton Telmec Uganda, the leading telecom company in Optic fibre business managing over 80% of optic fibre in Uganda.