Singaporeans are the gloomiest in Asia when it comes to their futures while Indians are the most optimistic, a study found Friday.
Although they purchased the most insurance in the region, the city-state’s residents have the lowest level of confidence and satisfaction about life among 2,400 respondents from eight economies.
The findings of the study conducted by AXA Life Insurance were published in The Straits Times.
Singapore emerged with the lowest score of 59.2 on AXA’s Life Outlook Index, compared with the regional average of 71.6.
India topped the list with 87.2, followed by the Philippines at 85, China at 75.1, Thailand at 74.3, Indonesia at 69.9, Hong Kong at 67.7 and Malaysia at 66.2.
The negative outlook of Singaporeans is “somewhat surprising” with the city-state’s strong economic growth and high standard of living, said Annette King, chief marketing and strategy officer.
The sentiment may have been partly influenced by volatility in the stock market in addition to the government’s emphasis on retirement planning, she said.