What's Next in Asia?

China and India's Optimism Continues to Boost Surrounding Economies in Asia

Mar 03, 2011, 06:04 ET from Harris Interactive

SINGAPORE, March 3, 2011 /PRNewswire/ -- As India and China continue their phenomenal growth on the world economic stage, the focus on these two key markets have seen a growth of Multi-National Corporations (MNCs) and supporting industries moving to markets like Singapore and Hong Kong as gateways to North and South Asia. There has also been movement into newer, emerging markets like Vietnam and Indonesia where some are successfully riding the coattails of these more established markets.  

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Hong Kong has long been a gateway to China for MNCs.  In the first ever Harris Poll in Asia, the attitudinal economic outlook regarding China is very similar among adults in both China and Hong Kong, with 85% of Chinese saying that China will be the most influential economy in the next ten years, compared to 87% of those in Hong Kong who say the same.  Almost four in five (79%) of those in Hong Kong think the growth of China is good for Hong Kong's economy as well.

These are some of the results of The Harris Poll, the one first to be conducted by Harris Interactive in Asia, and in which 4,251 adults were surveyed online in Singapore, Hong Kong, China and India (February 14 and 21, 2011) and also the U.S. (January 17 and 24, 2011).

Begun in 1963 in the United States, The Harris Poll is one of the longest running, most respected proprietary surveys conducted by Harris Interactive measuring public opinion and is highly regarded throughout the world. "For over 40 years, the Harris Poll has been a respected barometer of public opinion in the United States and more recently in Europe.   Today, we are proud to bring the Harris Poll to Asia, recognizing the importance of understanding the pulse of the Asian consumer in today's marketplace," commented Kimberly Till, CEO of Harris Interactive.

Indians are also quite bullish about the progress they have made and where they are going.  Thinking about the next ten years almost two-thirds (63%) of Indians are optimistic about their economy, with 80% saying India will be the most influential economy.  Only half of Americans (49%) are optimistic about their own economy, and fewer say they will be most influential in ten years (39%).  Half of Americans, rather, agree with those in China and Hong Kong, and say China will be most influential in ten years (49%).

Singapore, like Hong Kong, with its English speaking community, infrastructure and comforts (i.e. the "West of the East") has made it a favorable place to attract talent and to do business.  In fact, among Chinese, Indians, Singaporeans and Hong Kong residents alike, Singapore emerged as the country with the ideal economy to live in -- 48% of adults in these countries say Singapore is most ideal, compared to the 25% who think China is ideal.  

"The poll supports what most of us who work and live here already think – that the growth and China of India helps everyone in the region," said Asha Choksi, Senior Vice President and Head of Research for Harris Interactive Asia.

An Ecosystem Where Everyone Benefits

Seven in ten (70%) Singaporeans are optimistic about their own economy, with 46% seeing themselves take center stage as the next big player in the global economy.  They also see themselves very much as part of a larger ecosystem: 70% of Singaporeans think that India's growth is good for their economy and 78% say the same about China's growth.  Probably based on their own experiences, they think critical factors for growth are proper infrastructure (35%) and good country leadership (43%).  

Future trends

China seems to have a much more aggressive picture of their ability to sustain their growth, with 53% of Chinese indicating that they believe they will be the most powerful economy in 2050 versus 35% of Indians who believe the same about their own economy. Singapore seems to show a more balanced picture with an even split between those who think India (26%) and China (27%) will be the most powerful economy in 2050. To sustain growth, the Chinese believe that free/open trade (39%) and a growing consumer market (39%)  are most critical, opinions which are shared by those in Hong Kong (46% and 31% say so, respectively).  India highlighted infrastructure (31%) and education (31%) as being critical to growth while those in the U.S. see a low cost of labor (35%) as most important.    

Outside of the five countries surveyed, Korea is seen as being the next big player in the global economy with between 26% and 31% of adults in the U.S., China, Hong Kong, Singapore and India indicating this.  Many Indians also feel that UAE (35%) and Malaysia (34%) will be the next big players.  Among some of the emerging Southeast Asian markets, Vietnam emerged as one of the next big players in the economy, with 21% of Singaporeans indicating that it is likely to play a big role in the global economy in coming years.

So What?

Clearly no one country operates in isolation and the general perception now is that most countries are embracing the growth in China and India to help them leverage their own strengths and opportunities in the global marketplace, whether that be a growing consumer market, low cost of labor, infrastructure to do business and so on.  

"As an organization, even we are continuing to grow our teams in these hub markets to collect the views of consumers across the region," said Amrita Banta, Senior Vice President, Business Development, Harris Interactive, Asia, who just brought in two key executives in India and in China. "We are excited about what is ahead and will continue to adapt our business to trends in the Asian market."

TABLE 1

MOST INFLUENTIAL ECONOMY IN 10 YEARS

"Which one of the following economies do you think will be most influential in 10 years?"

Base: All adults


United

States

China

Hong Kong

India

Singapore

%

%

%

%

%

China

49

85

87

8

75

United States

39

8

8

8

11

Japan

6

1

2

2

4

European Union

3

4

2

1

3

India

2

1

1

80

6

Russia

1

-

-

1

1

Note: Percentages may not add up to 100% due to rounding




TABLE 2

OWN COUNTRY'S ECONOMY IN 10 YEARS

"How do you feel about your own country's economy over the next 10 years?"

Base: All adults


United

States

China

Hong Kong

India

Singapore

%

%

%

%

%

OPTIMISTIC (NET)

49

81

72

63

70

  Very optimistic

8

38

29

43

16

  Somewhat optimistic    

40

44

43

20

54

PESSIMISTIC (NET)

41

16

24

33

24

  Somewhat pessimistic

26

14

19

10

19

  Very pessimistic

15

2

5

23

5

Not at all sure

11

3

4

4

6

Note: Percentages may not add up to 100% due to rounding



TABLE 3

ECONOMIC GROWTH IN NEXT 25 YEARS

"Do you think that over the next 25 years, the following economies will grow…?"

Base: All adults


United

States

China

Hong Kong

India

Singapore

%

%

%

%

%

China

73

90

89

91

87

Hong Kong

49

69

74

55

72

India

45

77

68

66

93

Japan

45

57

46

38

81

United States

35

54

50

33

73

Korea

34

63

64

58

62

Singapore

33

74

69

66

81

Taiwan

31

57

67

54

48

Brazil

30

56

61

48

61

European Union

25

53

56

31

67

Australia

24

57

59

35

73

Russia

23

60

68

51

63

Thailand

21

45

44

34

56

Vietnam

20

43

49

40

36

Indonesia

20

40

43

28

46

Philippines

18

33

37

17

43

Malaysia

17

52

50

39

67

Note: Top 2 Box summary – Percentages denote those who said very fast or somewhat fast



TABLE 4

WHAT DOES ECONOMIC GROWTH OF CHINA MEAN?

"Do you see the economic growth of China as being good or bad for your own country's economy?"

Base: All adults



United

States

China

Hong Kong

India

Singapore

%

%

%

%

%

Bad

39

3

9

22

7

Good

22

86

79

60

78

Not at all sure

39

10

12

18

15

Note: Percentages may not add up to 100% due to rounding



TABLE 5

WHAT DOES ECONOMIC GROWTH OF INDIA MEAN?

"Do you see the economic growth of India as being good or bad for your own country's economy?"

Base: All adults


United

States

China

Hong Kong

India

Singapore

%

%

%

%

%

Bad

24

20

14

4

6

Good

24

45

43

89

70

Not at all sure

52

35

43

7

24

Note: Percentages may not add up to 100% due to rounding



TABLE 6

NEXT BIG PLAYER IN THE ECONOMY

"There has been a lot of talk about BRIC's (Brazil, Russia, India and China) growth in the past decade as well as potentially in the decade to come. Which country/countries do you see as being the next big player in the global economy? Please select all that apply"

Base: All adults


United

States

China

Hong Kong

India

Singapore

%

%

%

%

%

Hong Kong

42

40

40

40

24

Korea

27

30

26

29

31

Taiwan

18

25

18

13

19

Singapore

17

38

33

58

46

Indonesia

14

19

13

18

13

Mexico

12

12

8

15

6

South Africa

12

22

13

26

14

UAE

11

11

15

35

17

Thailand

10

9

7

16

7

Philippines

9

7

4

11

5

Vietnam

9

11

15

8

21

Malaysia

7

14

9

34

11

Kenya

3

5

2

6

4

Note: Multiple responses accepted



TABLE 7

SUCCESS FACTORS FOR EMERGING MARKETS IN ASIA TO SUCCEED

"Thinking of the emerging countries in Asia, while all of these factors may be important, which two do you believe will be critical success factors for these emerging markets to succeed? Please select up to two responses."

Base: All adults


United

States

Hong Kong

China

India

Singapore

%

%

%

%

%

Low cost of labor

35

25

19

14

10

Free/Open trade

25

46

39

16

26

Growing consumer markets

21

31

39

20

16

Proper infrastructure (transportation, utilities, telecommunications)

19

21

24

31

35

Education

18

13

21

31

21

Good country leadership

18

13

21

26

43

Skilled workforce

16

13

15

21

17

English speaking ability

11

10

3

9

9

Support from foreign countries

11

5

4

6

3

Government controls on foreign investment

8

9

10

14

9

Other

6

1

-

-

1

Note: Multiple responses accepted



TABLE 8

MOST POWERFUL COUNTRY - TODAY

"Which one country, including their economy and military, do you think is/will be most powerful?"

Today

Base: All adults


United
States

China

Hong Kong

India

Singapore

%

%

%

%

%

United States

77

79

72

58

72

China

14

4

12

11

12

Japan

3

6

6

9

7

Germany

2

3

4

4

2

Russia

1

5

3

6

3

India

1

-

1

9

2

Korea

1

2

2

2

2

Note: Percentages may not add up to 100% due to rounding



TABLE 9

MOST POWERFUL COUNTRY – IN 2020

"Which one country, including their economy and military, do you think is/will be most powerful?"

In 2020

Base: All adults


United
States

China

Hong Kong

India

Singapore

%

%

%

%

%

United States

47

7

7

7

6

China

35

32

42

32

44

Japan

5

8

11

4

11

Russia

4

35

18

8

13

Korea

4

2

6

4

8

India

3

6

10

37

13

Germany

2

9

5

7

6

Note: Percentages may not add up to 100% due to rounding



TABLE 10

MOST POWERFUL COUNTRY – IN 2050

"Which one country, including their economy and military, do you think is/will be most powerful?"

In 2050

Base: All adults


United
States

China

Hong Kong

India

Singapore

%

%

%

%

%

United States

41

2

4

7

4

China

32

53

36

14

27

India

8

16

27

35

26

Japan

6

5

9

10

8

Russia

6

13

13

10

19

Korea

5

4

6

13

9

Germany

3

6

5

10

6

Note: Percentages may not add up to 100% due to rounding



TABLE 11

IDEAL COUNTRY TO LIVE IN

"Which of the following countries do you think would be an ideal country to live in in terms of its economy?"

Base: All adults


Total

China

Hong Kong

India

Singapore

%

%

%

%

%

Singapore

48

45

28

49

71

China

25

34

17

28

16

Hong Kong

16

13

47

9

2

None of the above

11

9

9

14

10

Note: Percentages may not add up to 100% due to rounding; This question was not asked in the U.S.



Methodology

This Harris Poll was conducted online within the United States (from January 17 to 24) and Singapore, Hong Kong, India and China (from February 14 to February 21, 2011) among 4,521 adults (aged 18 and over). The number of people surveyed in each country is as follows:


Country

People surveyed

China

517

Hong Kong

318

India

542

Singapore

308

United States

2,566




Figures for age, sex, race/ethnicity, education, region and household income were weighted where necessary to bring them into line with their actual proportions in the population. Propensity score weighting was also used to adjust for respondents' propensity to be online.

All sample surveys and polls, whether or not they use probability sampling, are subject to multiple sources of error which are most often not possible to quantify or estimate, including sampling error, coverage error, error associated with nonresponse, error associated with question wording and response options, and post-survey weighting and adjustments. Therefore, Harris Interactive avoids the words "margin of error" as they are misleading. All that can be calculated are different possible sampling errors with different probabilities for pure, unweighted, random samples with 100% response rates. These are only theoretical because no published polls come close to this ideal.

Respondents for this survey were selected from among those who have agreed to participate in Harris Interactive surveys. The data have been weighted to reflect the composition of the adult population. Because the sample is based on those who agreed to participate in the Harris Interactive panel, no estimates of theoretical sampling error can be calculated.

These statements conform to the principles of disclosure of the National Council on Public Polls.

The results of this Harris Poll may not be used in advertising, marketing or promotion without the prior written permission of Harris Interactive.

The Asian Harris Poll® #1, March 3, 2011

By Asha Choksi, SVP, Research and Operations, Harris Interactive Asia

About Harris Interactive

Harris Interactive is one of the world's leading custom market research firms, leveraging research, technology, and business acumen to transform relevant insight into actionable foresight. Known widely for the Harris Poll and for pioneering innovative research methodologies, Harris offers expertise in a wide range of industries including healthcare, technology, public affairs, energy, telecommunications, financial services, insurance, media, retail, restaurant, and consumer package goods. Serving clients in over 215 countries and territories through our North American, European, and Asian offices and a network of independent market research firms, Harris specializes in delivering research solutions that help us – and our clients – stay ahead of what's next. For more information, please visit www.harrisinteractive.com or contact achoksi@harrisinteractive.com.

Press Contact:

Asha Choksi / Amrita Banta

Harris Interactive Asia

+65 6324 4246/ +65 63365176  

achoksi@harrisinteractive.com / abanta@harrisinteractive.com



SOURCE Harris Interactive



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