Singaporeans' economic concerns prevail over health woes: study

The COVID-19 pandemic stirs citizens’ economic fear than potential health threats.

Singaporeans are growing more concerned about the economy than potential health threats as a result of the COVID-19 pandemic, a study showed.

According to Wunderman Thompson Singapore’s recently released Anxiety Index, three out of four Singaporeans are anxious over issues such as the high-tension general elections, long-term economic disruption, and unemployment.

In contrast with the US survey in March 2020, 74% of respondents expressed that their anxieties are also brought by possible tax increases and the rising cost of living, aside from the fear of contracting COVID-19 in public areas.

The communications firm surveyed and interviewed 500 Singaporeans aged 18 and above last June to August. The study inferred that respondents aged 35 to 39 are the most anxious at 80.3%, compared to those aged 55 to 59 with 61.5%.

Three in four or 75% felt that global and local media played a large role in making them anxious. The study also showed that more than half of Singaporeans were worried about the foreigner-local proportion in the country’s workforce, as well as the number of immigrants in Singapore.

Wunderman Thompson Singapore identified several learnings for companies in SIngapore. Respondents wanted brands and companies to provide reassurance and measures to keep their health in check. Brands ought to find ways to make the lives of consumers and employees safer and better.

As more Singaporeans turn to online shopping, respondents want companies to optimise their experience, and consider what they can do for communities beyond sales.

Photo courtesy of Juan Pablo Serrano Arenas (Pexels)