According to Nielsen's bi-annual Global Online Consumer Opinion Survey conducted across 51 countries worldwide, maintaining work/life balance is the biggest concern for 20 percent Indians. World over, the state of economy is the chief concern for consumers, but for Indians it is the second biggest concern with 13 percent respondents voting for it.
"In the last few years we have noticed a number of new career opportunities opening up for Indians especially in the service sectors. However, better opportunities along with good pay package, growth prospects, brings in a long work schedule leaving individuals with very little time to balance their work and life. Demanding careers have dominated the lives of many young Indians for some time now and it takes a toll on their family life. It is not a surprise then that most Indians consider work-life balance as their biggest concern," said Sarang Panchal, Managing Director - Customized Research, Asia Pacific India, China and Greater China, The Nielsen Company.
Interestingly in many countries - and particularly in booming, emerging markets across Eastern Europe, the Middle East, and Asia – consumers cite Work/Life balance as their number one concern today. With 12 percent, Parent's Welfare and Happiness emerged as the third biggest concern for Indians. This is the highest for any country in the Asia Pacific.
"Despite news of westernization and other influences that we keep talking about, India is still a close knit society. Unlike west, children do not start their own life the moment they reach adulthood; people grow old living with parents under the same roof. It is in the Indian culture to care about one's parents," said Panchal.
Globally, consumers rated Job Security (10%) as their third biggest concern, followed by Health (9%), Children's Education/Welfare (9%) and Debt (8%).
"Lifestyle and culture play an important role in how consumers rank their concerns in life. Considering the thriving economy of India and good job prospects, Indians are more concerned about their overall well-being. They are confident that whatever problems they would face in the near future, lack of money won't be a cause of it," said Panchal.
In the list of biggest concerns, 11 percent Indians are concerned about their job security. Six percent have health as a concern. With nine percent, global warming is a biggest concern where India ranks second along with Switzerland globally. Thailand ranks first (14%-biggest concern) when global warming concerns are raised.
Children's Education and/or Welfare (7%), Debt (3%), Political Stability (3%), Terrorism (2%), Crime (2%), and Ability to afford retirement (2%) are some other concerns of Indians. The Nielsen Global Online Consumer Survey, conducted by Nielsen Customized Research, was conducted in April 2008 among 28,253 internet users in 51 markets from Europe, Asia Pacific, North America and the Middle East. The largest half-yearly survey of its kind, the Nielsen Global Online Consumer Confidence and Opinion Survey provides insight into current confidence levels, spending habits/intentions and the major concerns of consumers across the globe. The Nielsen Consumer Confidence Index is developed based on consumers' confidence in the job market, status of their personal finances and readiness to spend.