Comparative Analysis
By comparing the data from the current survey, we observe that 60.28% of respondents feel they are in a better financial place compared to 12 months ago. This is a notable increase from the 50.19% who felt better a year ago. The percentage of respondents feeling “Worse” now totals 23.74%, significantly lower than the 40.53% who felt worse a year ago. The “Unsure” category has seen a slight increase, from 9.28% to 15.99%.
Factors Influencing Financial Sentiment
1Global Economic Recovery:
Despite ongoing challenges, many economies have shown signs of recovery, which could explain the increase in respondents feeling better financially. Economic growth and reopening of businesses have contributed to this optimism.
2Stock Market Performance:
Robust performance in various stock markets over the past year has bolstered the financial confidence of investors. Gains in investment portfolios can have a positive impact on perceived financial well-being.
3Inflation and Cost of Living:
Although inflation has been a concern globally, many individuals may have adjusted their financial strategies to cope with rising costs, leading to a perception of financial stability or improvement. However, for those giving a negative response, the increased cost of living was cited as the main factor impacting their financial situation negatively.
4Employment and Income Stability:
Improvements in employment rates and income stability in several regions could have positively influenced the financial sentiments of our audience. Secure job positions and steady income flows are crucial for financial confidence.
5Government Stimulus and Support:
Continued government stimulus packages and support measures may have provided a financial cushion for many, contributing to the positive sentiment. These measures can help mitigate the impact of economic disruptions.
6Salary Increases:
A significant observation from the survey is that many respondents who reported feeling financially better attributed this improvement to salary increases. This highlights the importance of wage growth in enhancing financial well-being and confidence.
Positive Indicators
The substantial percentage of respondents feeling “Better” indicates a keen sense of financial improvement and stability among our audience. The reduction in the percentage of those feeling “Worse” suggests that fewer individuals are experiencing significant financial challenges compared to the previous year.
The survey results highlight a positive shift in financial sentiment among our international investor audience. Over 60% of respondents feel they are in a better financial position than they were a year ago, reflecting resilience and adaptability in the face of economic changes. However, the increased cost of living remains a significant concern for those who feel worse off financially.
“Understanding these sentiments is crucial for our tailoring of our offering and support to meet the evolving needs of our audience. By addressing the underlying concerns and providing strategic guidance, we can help our audience navigate through these uncertain times and achieve their financial goals.” said Jacob Hall, Global Head of Advisory at Hoxton Capital Management.
The Worldwide Wealth Survey 2024
Over 80,000 people were invited to take part in this year’s survey by Hoxton Capital Management and our strategic partner PSS Removals. The questions asked to cover a wide range of topics pertaining to life overseas, including financial matters, lifestyle, quality of life and current affairs. Over the coming weeks we will reveal and delve into some more of the findings from this year’s survey.
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Hoxton Wealth
June 13, 2024
