2023 is quickly approaching but some folks are not feeling very hopeful about the year ahead.
According to a survey by Ipsos, global optimism for ‘next year being better than the current’ has fallen (77 percent optimistic for 2022 only 65 percent optimistic for 2023).
The 16 percent drop (12 percentage points) from last year’s survey represents a new 10-year low and marks the lowest score recorded since Ipsos began running the survey.
The study, which featured more than 24,000 respondents in 36 different countries, polled people from around the world on their outlook for 2023. They were also asked to assess their thoughts and feelings about COVID-19 lockdowns, the environment, technology, and world security.
Check out the highlights from the report below:
- Global optimism for 2023 drops to 65 percent, the lowest mark ever recorded
- Prices, inflation, interest rates and unemployment are biggest reasons for pessimism
- 56 percent of respondents said “This year was a bad year for me and my family”
- Only 46 percent of people believe that the global economy will be stronger in 2023
- 50 percent of people think major stock markets around the world will crash in 2023
Global Optimism Reaches New 10-Year Low
With 2023 right around the corner, global optimism for the New Year has reached a new 10-year low.
Only 65 percent of respondents agreed with the statement that “2023 will be a better year for me than it was in 2022.”
The mark represents the lowest score ever since Ipsos began running the survey.
Brazil (85 percent), Mexico (85 percent), and China (83 percent) were among the countries with the most optimistic outlook for 2023. On the other end of the spectrum, Japan (36 percent) had the lowest percentage of respondents with an optimistic outlook for 2023, followed by Belgium (44 percent), France (44 percent), and Germany (52 percent).
Meanwhile, the United States (64 percent), Canada (61 percent), and Great Britain (53 percent) came in below the global average.
Respondents Reflect on Bad Year in 2022
Not only did people have a grim outlook for the future, but they also reflected on some of the hardships that they were forced to endure over the past year.
According to the report, 73 percent of respondents agreed with the statement that “This was a bad year for my country”.
The mark dropped for the second consecutive year after reaching an all-time high of 90 percent in 2020, however, it still represents an increase of over 12 percent compared to 2019.
Great Britain (87 percent) and Hungary (87 percent) topped the list of countries that had a bad year. Meanwhile, the United States (81 percent) and Canada (77 percent) also found themselves near the top of the list.
On the other hand, 56 percent of global respondents agreed that 2022 was a “bad year for me and my family”. Turkey (72 percent), Thailand (71 percent), and South Korea (67 percent) had the highest percentage of respondents that agreed with the statement.
Meanwhile, only 36 percent of respondents from Israel felt like 2022 was a bad year for them and their family, which was 10 percentage points lower than the next-lowest country (Netherlands).
People Expect Economic Conditions To Worsen In 2023
The economy proved to be a major factor in people’s outlook for 2023, as most people expected prices (79%), inflation (75%), interest rates (74%), and unemployment (68%) to continue to rise next year.
In fact, optimism that the global economy will be stronger next year has fallen from 61 percent down to 46 percent, a drop of nearly 25 percent.
Not surprisingly, the countries with the most hope for the economy in 2023 also had the most optimism about the year ahead.
China (78 percent), United Arab Emirates (76 percent), and Brazil (74 percent) were among the countries with the most respondents that believed the global economy will be stronger in 2023 than it was in 2022.
Belgium (27 percent), France (29 percent), and Japan (30 percent) were among the countries at the bottom of the list.
Meanwhile, the United States (41 percent), Canada (36 percent), and Great Britain (33 percent) all fell below the global average.
Half of Respondents Believe Major Stock Markets Around the World Will Crash in 2023
Wall Street took a major hit in 2022 but the pain might not be over for investors in some of the world’s major stock markets.
Ipsos found that 50 percent of respondents believe that it is likely that major stock markets around the world will crash in 2023.
Malaysia (71 percent), Poland (66 percent), and Indonesia (65 percent) were the countries where the most respondents agreed with the statement. Hungary (33 percent), Israel (35 percent), and Denmark (38 percent) were among the countries that did not believe a crash was likely to happen.
Meanwhile, Great Britain (47 percent), the United States (47 percent), and Canada (45 percent) fell just below the global average.