KUALA LUMPUR, Dec 28 (Bernama) — UOB’s flagship ASEAN Consumer Sentiment Study (ACSS) 2023 has found that while many Malaysian consumers are planning to maintain or decrease their expenses due to concerns about rising inflation, they remain positive about the economic outlook and are focused on securing their long-term financial health through savings, investments, and insurance.
With this optimism, about 30 per cent of Malaysian consumers plan to increase their allocation for savings, investment and insurance. While spending on insurance tops Baby Boomers¹’ list, Gen Z and Y are more focused on increasing their savings. Gen X, on the other hand, prioritises their investments.
