How People Around the World Feel About Their Economic Prospects

How People Around the World Feel About Their Economic Prospects

Each year, the Edelman Trust Barometer provides insight into how much trust individuals have in different systems of power.

The survey is also an excellent instrument for gauging global sentiment—and when it comes to how people in developed economies feel about the near future, the answer is very clear: negative. Indeed, in the majority of nations examined, respondents' confidence about their economic prospects decreased.

The following chart summarizes how many respondents in 28 countries believe they and their family will improve in the next five years. Or, to put it another way, what proportion of individuals feel positive about their economic prospects?
Interestingly, nine nations (those marked with a tick above) are polling at all-time lows for economic confidence.

Which Glass is Half-Full?
The most gloomy responses were from Japan, with just 15% anticipating favorable economic prospects in the short future. Only 18% of French respondents expressed economic optimism.

While the majority of developed economies are slightly more optimistic than Japan and France, they are all still significantly below the global average.

As tensions between China and the United States continue to escalate in 2022, one thing that unites residents in both nations is a broad sense that economic prospects are deteriorating. As the United States prepares for midterm elections and China has its 20th National Party Congress, authorities in both nations will undoubtedly be thinking about the economy.

Which Individual's Glass is Half-Full?
Of course, not everywhere is the mood for doom and gloom. The United Arab Emirates' population's economic prospects improved by six percentage points (p.p.).

Indonesia had an 11 percent gain, while the overall level of confidence remains relatively high in large emerging countries such as Brazil and India.

Keterangan Gambar (© Pemilik Gambar)

It's unsurprising that individuals in emerging countries are more positive about their economic future in certain aspects. In many of these nations, living standards are growing, and as the economy improves, more possibilities become available. Even in South Africa, the most gloomy African nation studied, the majority of individuals anticipate their conditions improving in the near future. In Kenya and Nigeria, the vast majority of people are hopeful.

Disparate Outcomes
Experts agreed on one main forecast for the next year: economic results would begin to fluctuate across nations with varying levels of vaccination availability.

While this seems to have had little effect on economic optimism so far this year, it remains to be seen how this will play out as the year develops.

Source2022 Edelman Trust Barometer 

Akhyari Hananto

I began my career in the banking industry in 1997, and stayed approx 6 years in it. This industry boost his knowledge about the economic condition in Indonesia, both macro and micro, and how to More understand it. My banking career continued in Yogyakarta when I joined in a program funded by the Asian Development Bank (ADB),as the coordinator for a program aimed to help improve the quality of learning and teaching process in private universities in Yogyakarta. When the earthquake stroke Yogyakarta, I chose to join an international NGO working in the area of ?disaster response and management, which allows me to help rebuild the city, as well as other disaster-stricken area in Indonesia. I went on to become the coordinator for emergency response in the Asia Pacific region. Then I was assigned for 1 year in Cambodia, as a country coordinator mostly to deliver developmental programs (water and sanitation, education, livelihood). In 2009, he continued his career as a protocol and HR officer at the U.S. Consulate General in Surabaya, and two years later I joined the Political and Economic Section until now, where i have to deal with extensive range of people and government officials, as well as private and government institution troughout eastern Indonesia. I am the founder and Editor-in-Chief in Good News From Indonesia (GNFI), a growing and influential social media movement, and was selected as one of The Most Influential Netizen 2011 by The Marketeers magazine. I also wrote a book on "Fundamentals of Disaster Management in 2007"?, "Good News From Indonesia : Beragam Prestasi Anak Bangsa di dunia"? which was luanched in August 2013, and "Indonesia Bersyukur"? which is launched in Sept 2013. In 2014, 3 books were released in which i was one of the writer; "Indonesia Pelangi Dunia"?, "Indonesia The Untold Stories"? and "Growing! Meretas Jalan Kejayaan" I give lectures to students in lectures nationwide, sharing on full range of issues, from economy, to diplomacy Less
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