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THE SAVINGS BEHAVIOR                IN UKRAINEa representative survey amongthe urban population 15+August 2011
Survey design                  The present report documents the results of the 2011 Savings Research in the  Research aim ...
The importance of savingQuestion 1: "First in general, how important do you personally assess putting money away? Would yo...
The importance of savingQuestion 1: "First in general, how important do you personally assess putting money away? Would yo...
The importance of saving – country overviewQuestion 1: "First in general, how important do you personally assess putting m...
Usage of savings productsQuestion 4: "What about you, which of the following savings-products do you personally use? Do yo...
Current monthly savings amountQuestion 5: "And how much money do you currently put away? If you do not have a monthly savi...
Current monthly savings amountQuestion 5: "And how much money do you currently put away? If you do not have a monthly savi...
Current monthly savings amount – country overviewQuestion 5: "And how much money do you currently put away? If you do not ...
Satisfaction with current savings amountQuestion 6: "Are you satisfied with the amount you currently are able to save or n...
Satisfaction with current savings amountQuestion 6: "Are you satisfied with the amount you currently are able to save or n...
Satisfaction with current savings amountQuestion 6: "Are you satisfied with the amount you currently are able to save or n...
Motivations for saving Question 7: "All in all, what is your motivation to save money? I will now read to you various poss...
Planned saving in the next 5 years  Question 8: "What do you think: compared to today, will you be saving in the next five...
Reasons for cutting back savings in next 5 yearsQuestion 8: "What do you think: compared to today, will you be saving in t...
Worries about savingQuestion 9: "We have learned that there are many worries and anxieties in regard to saving money. I wi...
Reasons against saving moneyQuestion 4: "What about you, which of the following savings-products do you personally use? Do...
People’s attitudes towards investmentsQuestion 14: "Coming to the end, one last question in regard to financial investment...
People’s attitudes towards investment – country overviewQuestion 14: "Coming to the end, one last question in regard to fi...
Prompted awareness ofethically sustainable investmentsQuestion 15: "Concretely now, focusing on ethically sustainable fina...
Appeal of ethically sustainable investmentsQuestion 16: "Assuming that you would think about a financial investment. How m...
Acceptance of lower profits from ethically sustainableinvestmentsQuestion 18: "Would you accept a somewhat lower amount of...
Ownership of ethically sustainable investmentsQuestion 19: "And do you have such an investment qualified as an ethically s...
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The savings behavior in Ukraine 2011

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Transcript of "The savings behavior in Ukraine 2011"

  1. 1. THE SAVINGS BEHAVIOR IN UKRAINEa representative survey amongthe urban population 15+August 2011
  2. 2. Survey design The present report documents the results of the 2011 Savings Research in the Research aim Ukraine, investigating people’s behavior, attitudes, motives and worries in regard to saving. Comparable researches were conducted in Austria, the Czech Republic, Slovak Republic, and Hungary. Method/ Sample • telephone interviews, in the urban Ukraine (100.000+ inhabitants), in other countries nationwide • representative for the bankable population, aged 15+ years Sample size In UA in total, n=500 interviews were conducted. (in AT n = 900, CZ n = 501, SK n = 505, HU n = 500) Interviewing took place in August 2011. Timing Trend figures show developments compared to the previous surveys in summer 2010 and 2009. Research Director Project Executive Contact Ansgar Löhner Astrid Heinrich Tel: 0043/ 732 77 22 55 - 208 Tel: 0043/ 732 77 22 55 - 217 mob.: 0043/ 676 9164650 heinrich@imas.at loehner@imas.at
  3. 3. The importance of savingQuestion 1: "First in general, how important do you personally assess putting money away? Would you say, putting money away is for you –" General population 15+ in urban Ukraine % 2011 2010 2009 Putting money away is - 33 Very important - 1 39 43 35 Rather important - 2 25 31 20 Only somewhat 24 22 important - 3 8 Of minor importance - 4 3 6 5 2 5 Not important at all - 5 Average 2,0 2,0 2,2
  4. 4. The importance of savingQuestion 1: "First in general, how important do you personally assess putting money away? Would you say, putting money away is for you –"+ / - Diff. to 2010 General population 15+ in urban Ukraine % 15 - 29 30 - 49 50+ Total Men Women years years years (n=500) (n=225) (n=275) (n=140) (n=175) (n=185) Putting money away is - Very important - 1 37 37 43 +4 46 44 48 29 24 Rather important - 2 25 -6 24 22 26 24 29 Only somewhat 24 22 +2 25 important - 3 22 3 3 Of minor importance - 4 3 -3 5 5 7 3 2 6 Not important at all - 5 +3 3 4 3 Average 2,0 0,0 2,1 1,9 2,2 1,9 2,0
  5. 5. The importance of saving – country overviewQuestion 1: "First in general, how important do you personally assess putting money away? Would you say, putting money away is for you –" + / - Diff. to 2010 General population 15+ in - % Czech Slovak Austria Hungary Ukraine Republic Republic (n=900) (n=501) (n=505) (n=500) (n=500) Putting money away is - 21 28 -1 Very important - 1 39 -2 +4 43 58 33 -6 45 25 -6 Rather important - 2 36 +1 19 +1 25 14 24 +2 Only somewhat important - 3 18 +1 9 +2 11 11 11 3 -3 Of minor importance - 4 5 +1 +6 10 5 Not important at all - 5 -2 2 5 +3 1 Average 1,9 0,0 2,4 +0,2 2,4 1,7 2,0 0,0
  6. 6. Usage of savings productsQuestion 4: "What about you, which of the following savings-products do you personally use? Do you personally have a -" General population 15+ in urban Ukraine % 2011 2010 2009 Savings products are personally used: Card account 32 26 22 Savings account, -deposit 15 20 16 Current account, on-demand account 8 13 12 Government endorsed pension insurance 3 3 8 Life insurance 3 2 2 Individual safe 0 1 1 Securities, investment fund*) 0 0 0 Save in cash, at home or in a safe box*) 50 47 38 None of this, do not save 23 23 30*) different wording compared to 2009
  7. 7. Current monthly savings amountQuestion 5: "And how much money do you currently put away? If you do not have a monthly savings plan, please convert it to monthly. Would you say youcurrently save per month -" Savers in urban Ukraine % 2011 2010 2009Currently put away per month: 0 UAH / nothing 10 9 9 Up to 550 UAH 67 61 60 551 to 1.100 UAH 17 20 21 More than 1.100 UAH 6 9 11 Average amount 460 UAH 508 UAH 592 UAH
  8. 8. Current monthly savings amountQuestion 5: "And how much money do you currently put away? If you do not have a monthly savings plan, please convert it to monthly. Would you say youcurrently save per month -"+ / - Diff. to 2010 Savers in urban Ukraine % 15 - 29 30 - 49 50+ Total Men Women years years years (n=383) (n=167) (n=216) (n=105) (n=143) (n=135) Currently put away per month: 0 UAH / nothing 10 +1 9 11 9 8 13 Up to 550 UAH 67 +6 62 71 73 64 66 551 to 1.100 UAH 17 -3 19 15 16 20 15 More than 1.100 UAH 6 -3 10 2 2 8 6 -48 Average amount 460 UAH 588 UAH 360 UAH 388 UAH 521 UAH 450 UAH UAH
  9. 9. Current monthly savings amount – country overviewQuestion 5: "And how much money do you currently put away? If you do not have a monthly savings plan, please convert it to monthly. Would you say youcurrently save per month -"Base: Savers+ / - Diff. to 2010 Savers in Austria Savers in Czech Rep. Savers in Slovak Rep. % (n=885) (n=449) (n=492) 0 Euro / nothing 5 -1 0 CZK / nothing 5 +4 0 EUR / nothing 13 Up to 50 Euro 19 +1 Up to 500 CZK 17 +6 Up to 20 EUR 11 51 to 100 Euro 24 +1 501 to 750 CZK 5 +1 21 to 40 EUR 15 101 to 200 Euro 28 -2 751 to 1.000 CZK 18 +2 41 to 60 EUR 14 201 to 500 Euro 18 0 1.001 to 2.500 CZK 27 -4 61 to 100 EUR 21 More than 500 Euro 5 0 2.501 to 5.000 CZK 17 -5 101 to 200 EUR 12 More than 5.000 CZK 11 -4 More than 200 EUR 14 Average amount 168 € +3€ Average amount 2.163 CZK - 496 CZK Average amount 89 EUR *) = 86 € Savers in Hungary Savers in Ukraine (n=399) (n=383) 0 HUF / nothing 8 0 UAH / nothing 10 +1 Up to 10.000 HUF 49 Up to 550 UAH 67 +6 10.001 to 20.000 HUF 24 551 to 1.100 UAH 17 -3 20.001 to 30.000 HUF 9 More than 1.100 6 -3 More than 30.000 HUF 11 Average amount 460 UAH - 48 UAH *) Exchangerate: 18.10.2011 Average amount 14.705 HUF *) = 42 € *) = 50 €
  10. 10. Satisfaction with current savings amountQuestion 6: "Are you satisfied with the amount you currently are able to save or not? Would you say you are –" Savers in urban Ukraine % 2011 2010 2009With current savings amount - Very satisfied - 1 2 1 2 8 11 5 Rather satisfied - 2 22 So so - 3 23 23 28 Less satisfied - 4 30 31 44 Not at all satisfied - 5 38 33 Average 3,9 3,8 4,1
  11. 11. Satisfaction with current savings amountQuestion 6: "Are you satisfied with the amount you currently are able to save or not? Would you say you are –"+ / - Diff. to 2010 Savers in urban Ukraine % 15 - 29 30 - 49 50+ Total Men Women years years years (n=383) (n=167) (n=216) (n=105) (n=143) (n=135) With current savings amount - Very satisfied - 1 2 +1 2 1 2 1 3 8 -3 6 6 8 Rather satisfied - 2 10 9 21 So so - 3 23 0 24 23 21 25 28 24 Less satisfied - 4 30 -1 29 38 32 43 43 Not at all satisfied - 5 38 +5 38 31 30 Average 3,9 +0,1 3,8 4,1 3,9 4,0 3,9
  12. 12. Satisfaction with current savings amountQuestion 6: "Are you satisfied with the amount you currently are able to save or not? Would you say you are –"+ / - Diff. to 2010 Savers - % Czech Slovak Austria Hungary Ukraine Republic Republic (n=885) (n=449) (n=492) (n=399) (n=383)With current savings amount - 2 +1 -3 8 5 9 8 -3 Very satisfied - 1 21 -2 13 22 0 27 -6 23 21 30 -4 Rather satisfied - 2 24 15 30 -1 39 +1 15 27 +3 So so - 3 47 14 +1 38 +5 +5 30 Less satisfied - 4 18 11 +7 Not at all satisfied - 5 4 -1 Average 2,6 +0,2 2,9 +0,3 3,4 3,8 3,9 +0,1
  13. 13. Motivations for saving Question 7: "All in all, what is your motivation to save money? I will now read to you various possible motivations to put money away. Please always tell me if this is personally for you a motivation to save money as well." Savers in urban Ukraine % 2011 2010 2009 Personal motivations for saving - Saveguarding: Financial back up, for emergencies 64 70 63 As an old age pension provision, 19 13 11 in order to stop working earlier, as nursing care insurance Purchases: For smaller and larger acquisitions, renovations 49 45 45 So that I can afford something later on 28 24 29 For vacation trip 27 24 20 For own or childrens education 21 14 *) Without a special reason 6 2 5*) no asked in 2009
  14. 14. Planned saving in the next 5 years Question 8: "What do you think: compared to today, will you be saving in the next five years rather more, rather less or equally as much money?" Savers in urban Ukraine 2011 2010 2009Will save in the next 5 years - rather less 22% rather more 16% 33% 22% 33% 38% 46% 45% about equally as much 45%
  15. 15. Reasons for cutting back savings in next 5 yearsQuestion 8: "What do you think: compared to today, will you be saving in the next five years rather more, rather less or equally as much money?"Question 8a: "And why will you assumedly put less money away in five years?" Savers in urban Ukraine % (n=383) People expecting to save less in the next 5 years compared to today 22 People expecting savings cut backs (22%=100%, n=85) Reasons for saving less in the next 5 years: Inflation, everything more expensive 43 Lower income from pension 19 Will spend more 14 Increasing living-costs 14 Risk of losing job 8 Less earnings 8 Unstable situation in the country 6 Others 8 No answer 2
  16. 16. Worries about savingQuestion 9: "We have learned that there are many worries and anxieties in regard to saving money. I will now read several of such issues to you, pleasealways tell me if you also share these concerns." Savers in urban Ukraine % 2011 2010 2009 Worries about saving: Currency devaluation/ buying-power is 75 83 76 decreasing/ high inflation Fear that I will not save enough for the future 38 37 29 Bank goes bankrupt 32 37 31 I soon can not afford to put money away 25 15 21 anymore Saving money pays off less and less 21 19 17 Funds lose in value, sagging markets 14 13 10
  17. 17. Reasons against saving moneyQuestion 4: "What about you, which of the following savings-products do you personally use? Do you personally have a -"Question 10: "Why do you not put money away at the moment? I will now read several possible reasons for this. Please always tell me, if this applies to you." General population 15+ in urban Ukraine % (n=500) People not saving money 23 Non-savers (23%=100%, n=117) Reasons against saving money: Financially not possible at the moment 69 Rather spend my money 20 I invest into my own business 10 Invest my money elsewhere, more profitably 3 Have not spent thoughts about saving yet 1
  18. 18. People’s attitudes towards investmentsQuestion 14: "Coming to the end, one last question in regard to financial investments, meaning bonds, stocks, fund etc..What is your general opinion in regard to invest your money into bonds, stocks, fund etc? Would you say –" General population 15+ in urban Ukraine % 2011 2010 2009 Opinion on investing in bonds, stocks, funds, etc. Very positive - 1 3 4 1 11 Rather positive - 2 16 19 45 Neutral - 3 48 49 23 Rather negative - 4 18 18 Very negative - 5 20 15 11 Average 3,3 3,1 3,5
  19. 19. People’s attitudes towards investment – country overviewQuestion 14: "Coming to the end, one last question in regard to financial investments, meaning bonds, stocks, fund etc..What is your general opinion in regard to invest your money into bonds, stocks, fund etc? Would you say –"+ / - Diff. to 2010 General population 15+ in - % Czech Slovak Austria Hungary Ukraine Republic Republic Opinion on investing in bonds, stocks, funds, etc. (n=900) (n=501) (n=505) (n=500) (n=500) Very positive - 1 3 -2 4 -1 3 2 3 -1 12 12 -3 16 13 -7 16 Rather positive - 2 0 Neutral - 3 37 +4 51 48 -1 56 +3 64 Rather negative - 4 +2 28 17 18 0 15 0 16 Very negative - 5 -4 18 16 +5 15 +4 12 6 Average 3,4 0,0 3,2 +0,2 3,4 3,1 3,3 +0,2
  20. 20. Prompted awareness ofethically sustainable investmentsQuestion 15: "Concretely now, focusing on ethically sustainable financial investments, meaning such investments where economic, social and ethical criteriaare decisive in choosing them. Actually, you invest with bonds, stocks and funds only in such enterprises which operate economically with responsibilitytowards society and environment. Have you ever heard or read about such special investments?" General population 15+ % Austria (n=900) 51 Slovak Republic (n=505) 46 Czech Republic (n=501) 32 Ukraine (n=500) 22 Hungary (n=500) 21 New question, no trends to 2010
  21. 21. Appeal of ethically sustainable investmentsQuestion 16: "Assuming that you would think about a financial investment. How much more interesting or uninteresting would such an ethically sustainableinvestment be for you compared to other financial investments? Would you say –" General population 15+ % Czech Slovak Austria Hungary Ukraine Ethically sustainable Republic Republic investments are - (n=900) (n=501) (n=505) (n=500) (n=500) compared to others - 5 7 6 Much more interesting 13 11 15 15 20 23 Somewhat more interesting 23 26 35 Equally interesting 24 43 42 19 23 Somewhat less interesting 21 14 34 15 23 A lot less interesting 18 17 10 New question, no trends to 2010
  22. 22. Acceptance of lower profits from ethically sustainableinvestmentsQuestion 18: "Would you accept a somewhat lower amount of profit in relation to ethically sustainable investments if you get the certainty that the enterpriseacts socially and environmentally responsible?" Accept lower profit in favour of social and environmental responsibility Slovak Republic (n=505) 70 Austria (n=900) 66 Czech Republic (n=501) 59 Hungary (n=500) 55 Ukraine (n=500) 35 New question, no trends to 2010
  23. 23. Ownership of ethically sustainable investmentsQuestion 19: "And do you have such an investment qualified as an ethically sustainable one?" Have qualified ethically sustainable % investments Slovak Republic (n=505) 5 Czech Republic (n=501) 4 Austria (n=900) 3 Hungary (n=500) 3 Ukraine (n=500) 3 New question, no trends to 2010
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