Good news! The world is looking at 2016 with much more confidence in terms of economic outlook than 2015, according to market research firm WIN/Gallup’s end of the year survey published on Dec. 31, 2015.
The research has found that an average of 45% of over 66,000 people interviewed in 68 countries had a positive outlook towards the economic situation in their own country in 2016, expecting it to be better than in 2016, and only 22% thought it was going to be worse (the remaining 33% didn’t expect changes or had no opinion). This is an increase of 3% compared to 2015—and a signal that people might feel things are getting better.
Leading the world in terms of economic optimism are West and South Asia, where 60% of people have a positive outlook, East Asia and Oceania (53%) and Sub-Saharan Africa (45%).
Sticking out for negativity—despite finally having started growing again— is the EU, where only 14% of people are optimists.
People with Positive Economic Outlook for 2016
A look at the results shows that the negative sentiments are found mostly among the richest countries: in prosperous economies (which the survey defines as G7 economies) only 18% of people think 2016 will be a good year for the economy, while in emerging economies (defined as G20 economies minus the G7) and aspiring ones (everyone else), 54% and 40% of people respectively have good expectations for the coming year. The most optimistic country is China—65% of people are looking forward to what the economy of 2016 has to bring.
Economic outlook for 2016 (by country’s wealth)
But while the macro results show that those who have more wealth (G7 nations) tend to be the most pessimistic, the opposite is true when looking at the micro results: demographic-wise, it’s the advantaged who have the most optimistic outlook on 2016. Men under 34, with medium-high income and a university degree are the most positive—although overall no one beats Hindus: with 61% of positive responses, they are the group with the best outlook on 2016.