Filipinos Optimistic About Economic Prospects for 2024

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MORE Filipinos are expressing optimism about the country’s economic prospects for 2024, according to the yearend survey conducted by Publicus Asia. The poll, which was conducted from November 29 to December 4, revealed a slight improvement in the public outlook on the country’s current state, with the percentage rising from 43 percent to 45 percent.

When analyzed by region, the survey found that optimism in North-Central Luzon increased from 43 percent in the third quarter to 49 percent in the fourth quarter. Similarly, South Luzon saw an increase from 40 percent to 45 percent, and the Visayas region experienced a rise from 41 percent to 47 percent. However, optimism in Mindanao declined from 50 percent to 44 percent.

In addition to the overall positive outlook on the country’s current state, the survey also revealed an increase in optimism regarding the direction of the country. The percentage of respondents who believed that the country is heading in the right direction surged from 61 percent in the third quarter to 66 percent in the fourth quarter.

The positive views on economic prospects for the next quarter also saw a significant increase, rising from 57 percent to 67 percent. This trend was observed across all demographic groups, indicating a widespread sense of optimism among Filipinos.

Publicus Asia highlighted the positive trajectory of Household Financial Prospects for the Next Quarter, which increased from 62 percent in Q3 to 70 percent in Q4. This optimistic outlook was shared across all demographic groups, reflecting the confidence of Filipinos in their future financial situations.

Overall, the survey showed a substantial increase in positivity about the “state of the country heading into the year 2024,” with the percentage rising from 59 percent to 68 percent. On the other hand, negative sentiments about the country’s state heading into 2024 decreased from 41 percent to 32 percent, according to Publicus Asia.

The survey, which had 1,500 respondents randomly drawn from the market research panel of over 200,000 Filipinos maintained by the Singapore office of PureSpectrum, a US-based panel marketplace with a multinational presence, provides valuable insights into the sentiments of Filipinos regarding the country’s economic prospects.

These findings indicate a growing sense of optimism among Filipinos, which can be attributed to various factors such as the government’s efforts to promote economic growth, the implementation of key policies, and the resilience of the Filipino people in the face of challenges. It is important to note that these positive sentiments are not isolated to a specific region or demographic group, but are shared across the country.

As the Philippines continues to navigate through the uncertainties brought about by the COVID-19 pandemic, this survey serves as a reminder of the resilience and optimism of the Filipino people. It is a testament to their belief in the country’s potential for growth and development in the coming years.

With the right policies and continued efforts to address the needs and aspirations of the Filipino people, the country can build on this positive momentum and create a brighter future for all.

Source: The Manila Times

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