Singaporeans invest less after financial meltdown
21:05, July 21, 2009
More than half of high-income earners in Singapore are saving more and investing less after the financial crisis struck, local media reported on Tuesday.
According to TV broadcaster Channel NewsAsia, a poll by Nielson Company showed that before the crisis, close to 39 percent from the high-income group saved most of their money.
However, 52 percent put their funds into savings after the financial meltdown.
They are not putting their money into investments, which saw a drop of 7 percent, or insurance, down 6 percent.
The survey was conducted in March 2009 to find out how high-income earners in Singapore apportion their disposable cash beforeand after the global economic crisis.
The survey polled 921 Singaporeans aged 18 years and above and earning above 7,000 Singapore dollars (4,895 U.S. dollars) a month.
Nevertheless, compared to other income groups, high-income earners are still placing the most emphasis on investment, with over 36 percent continuing to invest during this current volatile climate.
Stocks and equities are the top choice (48 percent), followed by mutual funds (27 percent) and real estate (14 percent).
21:05, July 21, 2009
More than half of high-income earners in Singapore are saving more and investing less after the financial crisis struck, local media reported on Tuesday.
According to TV broadcaster Channel NewsAsia, a poll by Nielson Company showed that before the crisis, close to 39 percent from the high-income group saved most of their money.
However, 52 percent put their funds into savings after the financial meltdown.
They are not putting their money into investments, which saw a drop of 7 percent, or insurance, down 6 percent.
The survey was conducted in March 2009 to find out how high-income earners in Singapore apportion their disposable cash beforeand after the global economic crisis.
The survey polled 921 Singaporeans aged 18 years and above and earning above 7,000 Singapore dollars (4,895 U.S. dollars) a month.
Nevertheless, compared to other income groups, high-income earners are still placing the most emphasis on investment, with over 36 percent continuing to invest during this current volatile climate.
Stocks and equities are the top choice (48 percent), followed by mutual funds (27 percent) and real estate (14 percent).
