Younger consumers plan to save more in the next six months: MasterCard survey

The proportion of younger consumers below the age of 30 who are saving more in the days ahead is higher than that of older consumers, a survey from MasterCard has revealed.

India stands at the second position in the list of countries where youngsters plan to save more in the coming six months.

Seventy-seven per cent of consumers under 30 years of age, surveyed in the Asia-Pacific, Middle East and Africa region, plan to save either as much or more in the next six months, compared to those between 31-45 years (73 per cent), 46-55 years (72 per cent) and those aged 56 years and above (71 per cent).

The MasterCard survey provides valuable insights into consumers' savings behaviour for the six months ahead. The survey is based on a survey of 9,211 consumers in 21 markets conducted between 23 March and 18 April 2009.

In eight of the 21 markets across the region, a majority of consumers are looking to save more in the coming six months.

The list of countries with maximum number of young savers for next six months:

  • Vietnam (52 per cent)
  • India (47 per cent)
  • United Arab Emirates (47 per cent)
  • South Africa (47 per cent)
  • New Zealand (46 per cent)
  • Philippines (45 per cent)
  • Qatar (44 per cent)
  • Australia (43 per cent)