44 out of 100 Hungarians describe their financial situation as comfortable

Nearly half (46%) of Hungarians believe they are financially better off than they were five years ago, which runs rings around the European average (37%). Globally 58 out of 100 consumers are more optimistic about their financial situation than back in 2014. In Europe, Romanians are the most positive about the improvement of their financial situation (61%), while Italians are the most pessimistic: only 17% stated they feel financially better off, according to a recent Nielsen report that reveals consumers’ sentiment towards their financial situations covering 64 markets around the world.

Global Nielsen study Changing Consumer Prosperity reveals general optimism, particularly in the region of Asia Pacific, with 70% of consumers feeling more positive than five years ago, followed by Africa and the Middle East (52%) and Latin America (50%). Consumers in developed markets are less optimistic; with Europe manifesting the worst result (37%).

Only 2% of Hungarians say they are able to spend freely, which is just one fifth of the European average and well below the global average (15%).

44 out of 100 Hungarian consumers describe their financial situation as comfortable (compared to 42 in Europe), although more than half of the respondents (54%) in Hungary say they are only able to cover their basic costs of living (vs 48% in Europe, and 32% globally).

“It’s interesting to note that while many consumers are feeling more financially stable than they did in the past, this does not necessarily translates as reckless spending” said Ágnes Szűcs-Villányi, Managing Director, Nielsen Hungary.