Argentines have the lowest savings capacity in South America in the midst of a sharp drop in purchasing power that deepened after the devaluation in December, according to data from a study by the market and public opinion research agency Quiddity together with the consulting firm Ágora, titled Social Mood Monitor 2024which reveals the expectations and demands of the population for 2024.
However, 75% of those consulted expects its financial situation to improve in 2024, given that a good part trusts that the Government will be able to recover the economic and social situation.
Meanwhile, a study by the consulting firm Opinaia showed that 75% of those consulted consider that their economic and social situation is bad. But 45% believe that the scenario will improve in the coming months.
Regarding the results of the study, Verónica Rodríguez Celín, regional director of Quiddity, pointed out that “this regional study allows us to see how the high levels of concern and frustration among Argentines in relation to the economic context “they are cut from the rest of the countries and, at the same time, they are combined with a very high expectation of improvement and trust in the Government.”
Purchasing power, inflation, insecurity.
According to the research results of Quiddity and Agora, the local agenda is dominated by inflation and insecuritywhere four out of six Argentines identify them as the main problems affecting the population.
While 3 out of 10 mention corruption, salaries, poverty and the country’s economy; The local agenda is marked by eminently economic problems.
Another survey carried out last March by the consulting firm Opina Argentina also concluded that, in the country, Only two out of ten people had the ability to save in the last month.
According to these data, the group with the lowest educational level was the one that reported the lowest possibility of saving. While 39% of young people as well as 27% of men were the segments most likely to retain some surplus of their income.
Although inflation is one of the main concerns of Argentines, 60% of those surveyed, according to the Quiddity survey, declared that they had not implemented any measures to mitigate it.
In the Quiddity study, people’s expectations regarding their financial situation showed that 75% of Argentines expect it to improve compared to 2023. This percentage increases among young people between 18 and 25 years old, reaching 91%. In addition, six out of 10 declared that their year will be better than 2023.
What happens in other countries
In the rest of the countries in the region, the problems associated with corruption and insecurity lead the population’s concern. For example, six out of 10 Mexicans and Colombians mention them as those that most affect the population; while four out of 10 Colombians also mention poverty and unemployment.
Comparatively with the same study carried out in 2023, In Argentina, the personal financial situation deteriorates, with an increase from 19% to 26% of those surveyed who declare that they spend more than they earn.
At the same time, the percentage of those who claim to have savings capacity drops from 29% to 24%; which in turn represents the lowest value in the region compared to the other countries surveyed: Colombians with 47%, Mexicans with 57% and Brazilians with 42%.
When asked about the emotions that predominated their mood during 2023, negative emotions predominated among foreign respondents, reaching 62%; while in the rest of the countries positive emotions predominate: Colombia with 57%, Mexico with 59% and Brazil with 52%.
At the local level, the “Government” dimension is the one with the highest expectation of improvement, reaching 38%, while poverty and unemployment are the dimensions with the most negative views from the population regarding the possibility of improvement.
In Colombia Education is the dimension that has the greatest positive expectation with 45%, while regarding corruption, the most relevant problem predominates a pessimistic vision.
In Mexico The areas of education and economy concentrate positive expectations 40% and 36% respectively, while in corruption, one of the main problems, a pessimistic vision predominates.
In Brazil Economy and unemployment are the topics that concentrate the most expectations of improvement with 35% and 36%, while corruption is the aspect in which people are most pessimistic.
Source: Ambito
