09.02.2016
Erste Bank Savings and Credit Forecast Q4
Survey: 34% believe in economic recovery in 2016
- Intended savings amount: 4,700 euro
- Planned Ø loan amount: 61,000 euro
Austrians' favourite forms of saving
The survey conducted by Integral on behalf of Erste Bank shows that 79 percent of Austrians intend to invest money in a variety of products in the coming 12 months. The average amount is 4,700 euro, which is 400 euro less than precisely one year ago. Two classical products, which Austrians will likely always stay loyal to, continue to represent the most popular forms of saving. 58% (-3) are using a savings book, an unchanged 53% a building savings contract. 35% (-3) want to take out a life insurance policy, significantly fewer respondents wish to invest into a private pension plan, as only 28% (-8) state that they plan to enter into such an agreement in the coming year. With 24%, intentions to invest in securities have remained unchanged relative to the comparable quarter of 2014. Real estate (15%) and gold (10%) have lost one percentage point each, stocks were however able to gain slightly in popularity with 11% (+1). Every fifth respondent doesn't plan to invest any money this year.
Use of own savings for new purchases
33% of Austrians, mainly persons between the ages of 30 and 49, intend to make a major purchase in coming months. 84% (+5) thereof want to finance it with their own savings. For 17% the financing source of choice is either a bank loan or a building society loan. The sought after loan amount is comparatively smaller at an average of 61,000 euro, which represents a decline of 18%. 6% (-2) are financing new purchases through their circle of close acquaintances and relatives.
Hope for economic recovery in Austria
34% of Austrians believe that the economic situation will improve in 2016, while 62% believe that it won't improve compared to the previous year.
Two years ago the trend was still more positive: at the time, 40% were still convinced of an economic recovery, only 51% believed back then that no improvement would occur in the subsequent year (2014). According to Erste Bank's current forecast, Austria's GDP will grow by 1.7% this year, which is approximately in line with expectations for the euro area.
About the study: Integral has interviewed 1,000 Austrians (representative of Austria's population above the age of 14) via telephone and asked them about their plans regarding forms of saving and investment, as well as their financing needs. The survey has taken place in the 4th quarter between 24. November and 15. December 2015. Unless stated otherwise, comparative figures refer to same quarter of the previous year.
Austrians' favourite forms of saving
The survey conducted by Integral on behalf of Erste Bank shows that 79 percent of Austrians intend to invest money in a variety of products in the coming 12 months. The average amount is 4,700 euro, which is 400 euro less than precisely one year ago. Two classical products, which Austrians will likely always stay loyal to, continue to represent the most popular forms of saving. 58% (-3) are using a savings book, an unchanged 53% a building savings contract. 35% (-3) want to take out a life insurance policy, significantly fewer respondents wish to invest into a private pension plan, as only 28% (-8) state that they plan to enter into such an agreement in the coming year. With 24%, intentions to invest in securities have remained unchanged relative to the comparable quarter of 2014. Real estate (15%) and gold (10%) have lost one percentage point each, stocks were however able to gain slightly in popularity with 11% (+1). Every fifth respondent doesn't plan to invest any money this year.
Use of own savings for new purchases
33% of Austrians, mainly persons between the ages of 30 and 49, intend to make a major purchase in coming months. 84% (+5) thereof want to finance it with their own savings. For 17% the financing source of choice is either a bank loan or a building society loan. The sought after loan amount is comparatively smaller at an average of 61,000 euro, which represents a decline of 18%. 6% (-2) are financing new purchases through their circle of close acquaintances and relatives.
Hope for economic recovery in Austria
34% of Austrians believe that the economic situation will improve in 2016, while 62% believe that it won't improve compared to the previous year.
Two years ago the trend was still more positive: at the time, 40% were still convinced of an economic recovery, only 51% believed back then that no improvement would occur in the subsequent year (2014). According to Erste Bank's current forecast, Austria's GDP will grow by 1.7% this year, which is approximately in line with expectations for the euro area.
About the study: Integral has interviewed 1,000 Austrians (representative of Austria's population above the age of 14) via telephone and asked them about their plans regarding forms of saving and investment, as well as their financing needs. The survey has taken place in the 4th quarter between 24. November and 15. December 2015. Unless stated otherwise, comparative figures refer to same quarter of the previous year.
