AFFLUENT Singaporeans are optimistic about Singapore’s economic situation, according to the Visa Affluent Study 2014, released by Visa yesterday.
The study was conducted from September to December last year and surveyed more than 5,000 cardholders in 11 countries including Singapore, Australia and Japan. Respondents were aged from 18 to 55 and earned more than $100,000 in annual income.
The study found that more than half of the 500 Singaporean respondents believed that the economy will improve this year as compared to 40 per cent in 2013. Of the respondents, 59 per cent also expected an increase in household income, as compared to 51 per cent in 2013.
This positive attitude also translated to an increase in willingness to spend, with 82 per cent of respondents intending to spend the same amount or more this year as compared to 2013, while 45 per cent of respondents indicated an intention to increase discretionary spending in the next 12 months.
Well-to-do S"poreans more optimistic about economy this year: Visa survey