Taiwan ranks 6th among 14 Asia-Pacific markets in terms of the importance its consumers attach to saving, with 88.6 percent of the public placing a high value on the practice, the MasterCard Worldwide Index of Consumer Purchasing Priorities survey released on Wednesday found.
The survey found that 54.8 percent of Taiwanese respondents believe it is “important” to save, while 33.8 percent of respondents think it is “very important.”
Most consumers in Asia-Pacific markets plan to increase their savings in next year and 87 percent see saving money as very important to their lives, the survey found.
About 91 percent of those whose annual income is lower than US$10,000 and 85 percent of those whose annual income is higher than US$30,000 believe saving is important, the poll found.
In Indonesia and the Philippines, 97 percent of respondents said saving is important or very important, while 93 percent in Malaysia and 92 percent in India shared this view, the survey found.
China ranked at bottom of the list with 77 percent of respondents giving importance to saving.
The survey was conducted during September in 14 markets in the Asia-Pacific, South Asia, Middle East and Africa. It had a margin of error of plus or minus 4 percentage points and a confidence level of 90 percent.