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Vol. 17, No. 0512
The ranking is based on consumer confidence and the resilience or the ability to deal with the global economic slowdown. Markets with the highest level of consumer confidence, as well as those that are most resilient to a slowdown in merchandise exports, accordingly have the strongest potential to weather the economic downturn. “Of those markets surveyed, Japan, Hong Kong, and the Philippines ranked highest on the report as
2. Filipinos up in financial literacy
T
he Philippines scored 53 points out of a possible 100 for financial literacy in 2012, data from Citi Philippines showed. The result, which surpassed the 52.6 points scored in 2011, marked the second consecutive time that the country breached the halfway mark since the survey was launched five years ago. The country inched closer to the regional average of 53.2 points, which dipped from 54.5 previously.
relatively resilient while Singapore, Saudi Arabia, Kuwait, and United Arab Emirates (UAE) ranked lowest as very vulnerable,” MasterCard said. The report is based on a correlation analysis of the MasterCard Worldwide Index of Consumer Confidence (MWICC) – Asia/Pacific’s most comprehensive and longest running consumer confidence survey – against merchandise export growth for 17 countries across Asia/Pacific and the Middle East. (TPS 02/12)
The country’s improved standing was said to have been supported by increased awareness of the importance of personal financial planning, ownership of several financial products, and optimism for the financial future. Citi polled 3,500 people from Australia, India, Indonesia, Korea, the Philippines, Singapore, and Taiwan. All respondents were over 18 years of age with either a bank account or a major credit card. (BWD 05/04).