While the APAC region has a higher level of trust in governments’ handling of the pandemic, concerns about the state of the economy persists, according to a study from McCann Worldgroup.
Why it matters
The global study, Truth About Culture and Covid-19, shows people in APAC generally trust their governments’ response to the pandemic but are concerned about the economy, with 64% being more cautious about post-crisis spending. The number rises to the highest out of any market surveyed in China, with 60% of people worrying about their jobs/finances, ranges between 35-40% in Southeast Asia and is lowest in Australia at just 26%.
In addition, 54% of people in APAC believe brands should understand their frustrations rather than providing them with dreams, a significant increase from 2018 when only 41% of people said the same.
Other highlights from the study
One APAC outlier is Japan, where 33% believe the government’s handling of the pandemic was inadequate. Also, only 13% believe their country was prepared to handle the outbreak.
In India and the Philippines, three in four people said that they will be more conservative with their finances.
In Japan, 55% say they intend to go do/buy what they haven’t been able to, rather than be cautious about spending. And in South Korea, 69% intend to do/purchase what they’ve missed out on as a result of the pandemic.
22% of people in APAC are concerned that people will become more racist, compared to 18% globally. This is most prominent in markets with high Chinese ethnicity, such as Hong Kong (29%), Singapore (29%), and China itself (28%).
38% of people in APAC believe COVID has emphasised existing inequalities.
43% of people in APAC believe this crisis will inspire new innovations, compared with 36% globally. This is most strongly seen in Singapore, with 58% believing that the crisis will inspire new innovations, the highest figure globally.
The global study covers ten markets in the APAC region: China, India, Japan, Australia, Philippines, Malaysia, Singapore, Hong Kong, Indonesia and South Korea.