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"Middle-class individuals in emerging markets are more optimistic about their financial well-being, social mobility and their children’s success than their counterparts in mature markets."
A study published by Peak Reinsurance Company (Peak Re) claims "The growing middle class in Asia remains optimistic despite economic headwinds, and this presents significant opportunities for the insurance industry."
"The survey, conducted by Peak Re and Intuit Research, surveyed seven emerging Asian markets – Malaysia, Indonesia, Thailand, Vietnam, Philippines, China and India – and three mature Asian markets – South Korea, Hong Kong and Japan."
"The survey found that middle-class individuals in emerging markets are more optimistic about their financial well-being, social mobility and their children’s success than their counterparts in mature markets. Emerging Asia’s middle class is also more health-conscious and more aware of the heavy financial burden of medical expenses. In terms of personal finances, respondents from emerging Asia are also more confident about their financial literacy and more disciplined about spending and saving. This optimism is reflected in the fact that more of them have ambitions to become entrepreneurs or expect employers to improve work-life balance."
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