Thailand Among The World's Most Optimistic Nations

[webfact]

CONSUMER SURVEY

Thailand among the world's most optimistic nations

By The Nation

Thailand posted a strong, 10-point increase in consumer confidence at the end of 2010 with a Consumer Confidence Index of 102 according to the latest Global Consumer Confidence Index released by Nielsen Company carried out in the fourth quarter.

To them, the economic health will be the biggest concern in the next six months (21 per cent), followed by political stability (12 per cent) and job security (9 per cent). In the previous survey conducted in the second quarter, political stability was the biggest issue (23 per cent), followed by economy (17 per cent), and job security (7 per cent).

In June 2010, the index for Thailand, which tracks consumer confidence, major concerns and spending intentions among consumers, was 92. In contrast, the Asia Pacific Index declined 4 points from 101 in the second quarter to 97 in the fourth quarter.

Nielsen's survey polled over 29,000 internet consumers in 52 countries last November 2010. Globally, confidence levels fell in 25 out of 52 countries surveyed as widespread concern for unemployment, job creation, rising food and utility costs eradicated any expectation of sustained economic recovery.

Consumer Confidence Index levels above and below a baseline of 100 indicate degrees of optimism and pessimism respectively. Thailand finished the year with a Consumer Confidence Index of 102 which remained relatively high compared to the first half of the year while global consumer confidence index remained stable from the previous quarter at 90 and ended the year two index points below the start of the year.

"The second half of 2010 saw a strong rebound in consumer confidence in Thailand, again underscoring the country's resilience. Over the years Thai consumers have consistently demonstrated a great ability to bounce back from political challenges and serious threats from natural disasters. After facing massive political demonstrations which severely impacted the country in the second quarter of 2010, consumer behavior and attitudes have more or less returned to normal. Other factors that have also resulted in Thai's feeling more confident in the past 6 months include a strong Thai Baht, the buoyant local stock market, modest inflation and stronger gold prices," said Aaron Cross, managing director of Nielsen Thailand.

Thailand was one of 14 countries (out of 52 where the survey was conducted) that ended 2010 with a consumer confidence index of 100 points or greater. Nine of these countries are from Asia Pacific: India (131), Philippines (120), Norway (119), Indonesia (116), Australia (112), Switzerland (110), Singapore (109), Brazil (108), Malaysia (107), Saudi Arabia (107), Vietnam (103), Sweden (103), Thailand (102) and China (100). This is an increase compared to 11 countries who hit the 100+ index mark one year ago.

In the survey, Thai consumers appeared more optimistic about job prospects, personal finances and ability to spend.

- Optimism about job prospects jumped by 14 points: 48 perc ent of Thai consumers believed that their job prospects over the next 12 months would be "Good or Excellent", up from 34 per cent in the second quarter. Across the Asia Pacific region, the average was 55 per cent at the end of 2010.

- 6-point increase in perception of the state of personal finances: The proportion of consumers who feel their personal finances are in an excellent or good state increased from 50 per cent in the second quarter to 56 per cent in Q4 2010, exceeding the average 55 per cent for Asia Pacific.

- 8-point increase in intention to spend: As a result of the overall positive sentiments towards job prospects and personal finances, 46 per cent of Thai consumers feel that now is the right time to the buy things they want compared to 38 per cent in second quarter.

In the survey, it showed that 73 per cent of consumers put spare cash into savings, up from 71 per cent in the second quarter. The average for Asia Pacific was 59 per cent.

After savings, holidays/vacations (43 per cent), buying new technology products (30 per cent) and making improvements to homes (26 per cent) were the three most popular uses of spare cash. (Table 3)

"The slight increase in the proportion of consumers putting spare cash aside for savings may be a signal that consumers are still expecting some rainy days ahead, given the continuing global concerns about inflation and a sustainable economic recovery," Cross added.

Cautious spending behavior expected as consumers seek to save on household essentials

Although more consumers in Thailand have indicated a stronger perception of their ability to spend, Nielsen's survey also revealed that 88 per cent of Thai consumers changed their spending habits to save on household expenses during the fourth quarter, compared to 85 per cent in the second quarter.

Thai consumers indicated that they are likely to reduce their expenditures by saving on gas and electricity (54 per cent), cut spending on new clothes (47 per cent), cut down on out of home entertainment / telephone expenses (44 per cent), and cut down on holidays/ short break (33 per cent).

-- The Nation 2011-02-01

[Soutpeel]

Who comes up with this drivel....

[Pi Sek]

Who comes up with this drivel....

Drivel, creative accounting or whatever. Personally I hold it in very low regard, but

Nielsen's survey polled over 29,000 internet consumers in 52 countries last November 2010.

I imagine that "internet consumers" do not represent the majority of Thai people and, dare I say, would limit the scope of the survey to certain elements of society - unless they're including hi5 or Facebook "consumers".

Hey, at least they're not saying that these results show an increase of 86% for the first quarter of 2011 or something equally as ridiculous.

[Soutpeel]

Who comes up with this drivel....

Drivel, creative accounting or whatever. Personally I hold it in very low regard, but

Nielsen's survey polled over 29,000 internet consumers in 52 countries last November 2010.

I imagine that "internet consumers" do not represent the majority of Thai people and, dare I say, would limit the scope of the survey to certain elements of society - unless they're including hi5 or Facebook "consumers".

Hey, at least they're not saying that these results show an increase of 86% for the first quarter of 2011 or something equally as ridiculous.

Kinda knew it vwas BS when I read the last paragraph...

"Thai consumers indicated that they are likely to reduce their expenditures by saving on...... telephone expenses (44 per cent)"

Cut down on telephone usage !!!!.....yeah right...

[MZurf]

Thailand - a hub of optimism!

[ding]

Thailand - a hub of optimism!

Well, excluding expats of course.

[bangon04]

Thailand - a hub of optimism!

Of course. Thailand's economy is growing. It is a leading light in the ASEAN group of nations.

As for everything else - Thailand is the best country in the world, with the best people.

It must be true. Thais are taught this from a very early age. Teachers don't lie.

Anyone who thinks differently just doesn't understand Thai thinking. If they did, they would share this optimism....

[Mugg]

I say Bravo to Thailand. After reading the entire survey it just shows they are still people that believe. Where as all major power countries sort of fell below the global average. When the minimum DAILY wage is around 200 baht it does not take much to give you confidence.

Edited February 2, 2011 by MichaelMulligan

[w11guy]

Who comes up with this drivel....

Drivel, creative accounting or whatever. Personally I hold it in very low regard, but

Nielsen's survey polled over 29,000 internet consumers in 52 countries last November 2010.

I imagine that "internet consumers" do not represent the majority of Thai people and, dare I say, would limit the scope of the survey to certain elements of society - unless they're including hi5 or Facebook "consumers".

Hey, at least they're not saying that these results show an increase of 86% for the first quarter of 2011 or something equally as ridiculous.

I agree that polling internet users won't be representative of the entire population, but I think the main point of these surveys is to see how things change from year to year. It probably gives a good guide to whether the countries are more optimistic than previous years. It's not meant to be perfect; it's just a guide. Some things will be wrong, but that's life.

I know one thing for sure though - the optimism level of expat thai visa users is in the 0-10 range. They are never happy about anything. The whole point of their lives is to get up every day and share their negativity with fellow jaded expats.

[dumball]

Pi Sek' timestamp='1296547796' post='4189709']Soutpeel' timestamp='1296547417' post='4189691']

Who comes up with this drivel....

Drivel, creative accounting or whatever. Personally I hold it in very low regard, but

Nielsen's survey polled over 29,000 internet consumers in 52 countries last November 2010.

I imagine that "internet consumers" do not represent the majority of Thai people and, dare I say, would limit the scope of the survey to certain elements of society - unless they're including hi5 or Facebook "consumers".

Hey, at least they're not saying that these results show an increase of 86% for the first quarter of 2011 or something equally as ridiculous.

Should they use the lower 75% of residents instead of the top 25% for thier survey , I feel it would totally invert the outcome of what they present as average , people without high funds to dispose of as apposed to those with a huge disparity on what funds are available to squander on a daily basis , needs as apposed to wants .

[w11guy]

Thailand - a hub of optimism!

Of course. Thailand's economy is growing. It is a leading light in the ASEAN group of nations.

As for everything else - Thailand is the best country in the world, with the best people.

It must be true. Thais are taught this from a very early age. Teachers don't lie.

Anyone who thinks differently just doesn't understand Thai thinking. If they did, they would share this optimism....

Maybe the thai visa expats need a few years of Thai schooling. Then they wouldn't be so negative. Life is so much fun being optimistic. I feel very sorry for most of you lot. I don't think I'd be able to get out of bed if I felt as negative as you lot. Life is so bad for you I wonder why you haven't ended it all.

[w11guy]

I say Bravo to Thailand. After reading the entire survey it just shows they are still people that believe. Where as all major power countries sort of fell below the global average. When the minimum DAILY wage is around 200 baht it does not take much to give you confidence.

I think Thais in general tend to focus on what the have got, whereas people in the West tend to focus on what they haven't got. Even Western multi-millionaires keep complaining that they have a hard life.

What made most of you lot so negative? It's very sad.

[anterian]

I must find out how many of my local villagers are happy that the price of gold has gone up, not that they have any!

[exbelg]

i guess they askes the jetski scammers, the tuk tuk maffia and sofort to see if they were optimist

and indeed, they are, lots of tourists to scam to get them a serious job security and increase of income

i guess

[Lindern]

Ignorance is bliss.

[TheGhostWithin]

There is infact a reason for this - when your government tells you everything is OK, that is what you believe. When you have ample access to food at cheap costs, and housing is reasonably cheap (outside of expat areas, which are now shockingly expensive), everything seems OK.

What the peopled ont know, can't hurt them is the situation here. In countries where media operate more freely, and government departments are more honest/accurate with their disclosure of the REAL fiscal and social situation, the optimism/confidence levels are more accurately indicative of the climate of the population as a whole, and as such the true future of the economy. I am quite sure, that other places such as China are very optimistic also, whereas you have India (next door) with more free disclosure policies where people are actually now getting worried and starting to react.

The Thai way is similar to the Chinese way, of covering up any weaknesses with government aid and subsidies. If the BOT actually stopped meddling with the export/import markets and currency markets, and the news agents were allowed to report the true situation, the "optimism" may not be there. As such, this is a false optimism which will be realised in due course.

I love Thailand, but nothign is perfect. Things need fixing.

[asiawatcher]

More BS PR

[Berkshire]

Life is so much fun being optimistic. I feel very sorry for most of you lot. I don't think I'd be able to get out of bed if I felt as negative as you lot. Life is so bad for you I wonder why you haven't ended it all.

I hear you, w11. The problem with many of these TV members--aside from being a little dim--is that they love to complain about Thailand. If this survey had been the exact opposite, i.e., if Thais were seen as being more pessimistic, these same idiots would be on this thread complaining about the Thai government, and how Thais do everything wrong, which is why they're so pessimistic. The Thais can't win. But I agree with you--I often wonder why these whining, degenerate rubes don't just end it all.

[jbrewer]

Thailand - a hub of optimism!

Of course. Thailand's economy is growing. It is a leading light in the ASEAN group of nations.

As for everything else - Thailand is the best country in the world, with the best people.

It must be true. Thais are taught this from a very early age. Teachers don't lie.

Anyone who thinks differently just doesn't understand Thai thinking. If they did, they would share this optimism....

Maybe the thai visa expats need a few years of Thai schooling. Then they wouldn't be so negative. Life is so much fun being optimistic. I feel very sorry for most of you lot. I don't think I'd be able to get out of bed if I felt as negative as you lot. Life is so bad for you I wonder why you haven't ended it all.

wow, that last sentence maybe is a step too far, no?

[dumball]

jbrewer' timestamp='1296648693' post='4192325'w11guy' timestamp='1296626891' post='4191512']

'bangon04' timestamp='1296603658' post='4190890']

'MZurf' timestamp='1296599385' post='4190836']

Thailand - a hub of optimism!

Of course. Thailand's economy is growing. It is a leading light in the ASEAN group of nations.

As for everything else - Thailand is the best country in the world, with the best people.

It must be true. Thais are taught this from a very early age. Teachers don't lie.

Anyone who thinks differently just doesn't understand Thai thinking. If they did, they would share this optimism....

]

Maybe the thai visa expats need a few years of Thai schooling. Then they wouldn't be so negative. Life is so much fun being optimistic. I feel very sorry for most of you lot. I don't think I'd be able to get out of bed if I felt as negative as you lot. Life is so bad for you I wonder why you haven't ended it all.

wow, that last sentence maybe is a step too far, no?

I think most of your sentences go a little too far , I wonder you are not dyed dark brown and speak through your nose a lot instead of another orifice , siding with the people you live amongst is one thing , but denegrating just about every post by farang who are only in fact passing their OPINION or on things as THEY find them ,is somewhat 'Over the top' , even for a pe-ed off limey who gives the impression of having little else of worth to occupy his time or add to a thread .

[orpheus454]

Who comes up with this drivel....

Nielson Company. It's right there in the first sentence. You must have missed it.

[orpheus454]

More BS PR

By whom?

Nielson...??

[chuang]

jai yen yen.. :jap:

[pepi2005]

Consumer Confidence <> overall optimism / happiness