A Nielsen survey conducted in the last quarter of 2007 polling 26,312 Internet users in 48 major markets in Europe, Asia Pacific, North America and the Middle East demonstrates growing concern over the future of the global economy; a result that may have a negative impact on the wanderlust of holidaymakers. Conducted twice every year, the Nielsen Consumer Survey gauges consumer confidence, spending habits, spending intentions and major concerns held by the world's consumers. The survey collections perceptions from the public on the job market, the status of personal finances and the readiness of consumers to part with disposable income.
The most recent Nielsen Survey reveals:
Increasing fuel costs, escalating sub-prime credit crisis and a slowing of the U.S. economy have caused a "dip in confidence" in 28 of the 48 markets tracked by Nielsen.
Most fearful of a declining global economy over the coming 12 months are respondents in Thailand, Taiwan and Italy. Over 50% of the respondents from all nations are jittery that recession will pave the way for rising unemployment and inflation.
Chinese and Vietnamese respondents were, however, more "bullish" believing there would be no recession in the next 12 months.
Globally, the Consumer Confidence Index (CI) stands at 94, down form 97 measured in May 2007 and 99 recorded in the last quarter of 2006.
Norway, India and Denmark ranked as the three most optimistic groups of consumers with CI scores of 135, 133 and 124, respectively.
Also included among the ten "most confident" nations were India, Australia, Hong Kong, Vietnam, New Zealand and Singapore. This result suggests that inter-regional travel within Southeast Asia may be little affected by growing concerns for the global economy's health.
The Chinese market is only moderately worried about recession with their CI dipping eight points to 98 in the most recent survey. Among the Chinese respondents, greatest concerns focus on inflation (67%), unemployment (52%) and declining property prices (27%).
Three of Bali's leading sources of tourists South Koreans, Taiwanese and Japanese were shown to be feeling more cautious when it comes to discretionary spending with 80% saying now is not the time to buy. This may have a fundamental effect on Bali's inbound travel from these markets.
The Nielsen Company
The Nielsen Company is a global information and media company working in marketing information (ACNielsen), media information (Nielsen Media Research), online intelligence (NetRatings and BuzzMetrics), mobile measurement, trade shows and business publications (Billboard, The Hollywood Reporter, Adweek).
48 Countries Surveyed
The 48 countries surveyed in the latest Consumer Confidence Report include: Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Czechs Republic, Denmark, Egypt, Estonia, Finland, France, Germany, Greece, Hong Kong, Hungary, India, Indonesia, Ireland, Italy, Japan, Korea, Latvia, Lithuania, Malaysia, Mexico, Netherlands, New Zealand, Norway, Pakistan, Philippines, Poland, Portugal, Russia, Singapore, South Africa, Spain, Sweden, Switzerland, Taiwan, Thailand, Turkey, UAE, United Kingdom, US and Vietnam.
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