Recession cloud has silver lining

LONDON – It seems the financial crisis isn’t all doom and gloom: one in four people are glad the world’s economy slumped as it did, because it helped them realise their priorities in life, according to a global survey.

Market research firm Synovate polled 11 400 people across the world, including South Africa, and found more than half had permanently changed their attitudes toward money over the last 12 months.Another 47 per cent, however, said they were looking forward to being able to spend freely again.’The psychology of global recession has changed the way many people do things,’ said Jenny Chang, Synovate’s Managing Director in Taiwan.’They are making life-altering decisions based on the current global recession, be it postponing marriage, having children, moving house, changing jobs or pursuing higher education. Even in a reality impact-free economy like Taiwan’s.’A quarter of all respondents led by Malaysians said they were glad the world had an economic crisis as it had helped them realise what’s really important in their lives. Nearly 60 per cent said they would try their best to keep a tight rein on their spending so that it did not return to what it used to be before the downturn, and more than two-thirds are more interested in boosting their savings than reducing their debt.Steve Murphy, managing director of Synovate in Malaysia, said: ‘The crunch has been felt, and it has reinforced the family values of Malaysians, helping them to appreciate what they have rather than to continually strive for more.’The majority of respondents – 80 per cent – believed their generation had a responsibility to leave their country better off for the younger generation, even if it involved dramatically altering their lifestyles.The survey showed that one in five people had put off an overseas trip in the last six months, six per cent had delayed having a baby and another 5% had even postponed surgery until things get better. – Reuters