According to a Nielson Company poll, Singaporeans are now saving more and investing less. According to the survey, close to 57% of the Singaporeans surveyed say that they are now saving more, at the expense of investments and insurances.
I say, “Just 57%?” Considering that the global financial crisis that is gripping the world right now, 57% is a very good number. I thought the numbers should be higher than that. To put it in context, 43% of Singaporeans are still investing as per normal despite the financial problems of the world.
That’s either brave or foolhardy but no matter what, it’s good news for Singapore. Confidence in Singapore is still strong and in the long run, that's what Singapore need