April - 2010 issue > In Focus

By si team

It’s the time to be concerned if Indians become more money conscious. A survey report says, India has emerged as one of those nations, which believe that ‘money talks’ more than people in other countries.

As the saying goes, money isn’t everything, but it certainly means more to people now than before the global financial crisis. According to the World Journal, a public survey launched by Reuters and Ipsos puts India at the fourth rank with 78 percent of its people placing greater value on money after the global financial crisis.

In the survey, citizens from China, Japan, and Korea were the most likely to say money meant more to them. India is followed by Russia, Turkey, and Brazil. The survey reveals that the younger ones put more emphasis on money and see it as a sign of success. The respondents from the countries, which took part in the survey, held the view ‘money confirms a person’s success’ in common. The Chinese and the Koreans agree, with 69 percent of the respondents, while 67 percent of the Indians and 63 percent of Japanese support the view.

Apart from revealing the different attitudes of the countries, the survey also portrayed the mindsets of people of different facets of life. Men and women were evenly divided on the importance of money, with 65 percent of men and 64 percent of women agreeing that money was more important now. and more men than women, 47 percent to 40 percent, were likely to say money was the sign of success. Younger people were more likely to put more emphasis on money, with 71 percent of those aged under 35 saying it was more important now compared to 61 percent of people aged 35-54 and 52 percent of people aged 55 or above. People aged under 35 were also likely to see money as the sign of a person’s success, with 48 percent believing in that, compared to 40 percent of people aged 35-54 and 35 percent of those aged 55 and above.

Conducted in 23 countries, the survey found that two-thirds of 24,000 people questioned, or 65 percent, agreed that money was more important to them now than it was previously.

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