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Prosumer Reports

MONEY, MONEY, MON€Y

MONEY, MONEY, MON€Y

Havas Global Comms

Havas Global Comms

February 28, 2017

The lingering effects of the global economic downturn and continued sociopolitical upheaval are taking a toll on people’s faith in the future.

More than 6 in 10 people in the 37 countries surveyed worry about a global economic recession, fear a collapse of the global financial markets, and/or are concerned about running out of money as they grow older. As a consequence, more than 8 in 10 respondents believe parents should be teaching their children to be happy with less money and fewer possessions.

Snapshot:

A Havas Group survey of nearly 12,000 men and women in 37 countries found that the lingering effects of the global economic downturn and continued sociopolitical upheaval are taking a toll on people’s faith in the future.

Key findings include:

Getting used to less. Six in 10 respondents believe we all need to get used to living in a world with less economic growth, and 58% say they personally need to get used to living with less. In developed markets, most believe children born today will have less economic security than their parents had. As a consequence, most people worldwide believe parents should be teaching their children to be happy with less money and fewer possessions.

Rethinking capitalism. As the gap between rich and poor continues to widen, the belief that hard work will reap financial rewards is losing ground. At the same time, tensions over the unequal distribution of wealth are on the rise. Most people surveyed would like to see the world’s wealth redistributed so that no one is extremely rich or extremely poor.

Next-century banking. To make it to the next century, banks will need to reinvent themselves in order to play a more meaningful role in people’s lives. One-third of millennials believe traditional banks are outdated, and one-fifth think banks will have completely disappeared by the end of this century. Many people believe Bitcoin and/or other virtual currencies will completely replace cash.

Havas is one of the world’s largest global communications groups, and committed to creating meaningful connections between people and brands.

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