Ipsos Global Trends 2023: Pakistanis trust business leaders more than govt
KARACHI: “As 2023 continues to unfold, we’re entering a New World Disorder filled with crises on multiple fronts. Yet the largest trends survey ever from leading insights firm Ipsos, shows that 74 percent worry that their government and public services will do too little to help people in the years ahead. More troubling is their lack of faith that in the institutions with the scale to help.”
Ipsos Global CEO Ben Page remarked this while addressing top notch corporate leaders at a special seminar organised by Overseas Investors Chamber of Commerce and Industries (OICCI) in Karachi on Wednesday.
Aamir Ibrahim, CEO Jazz Pakistan, M Abdul Aleem, CEO and General Secretary OICCI and Abdul Sattar Babar, Managing Director Ipsos in Pakistan, also expressed their views on the occasion.
The presentation by Ben was followed by an insightful Q&A session. Ben is also a visiting Professor at Kings College, London.
Babar apprised the audience that complex times call for bold research, so Ipsos has invested in its most ambitious trends survey ever, fielded among more than 48,000 interviews with people in 50 markets, covering 70 percent of the world’s population and nearly 90 percent of its GDP. This is the sixth wave of Ipsos Global Trends, which began one decade ago in 2013.
This must-read report reflects on how Ipsos’ 12 Global Trends have - and haven’t - changed over the last few, disruptive years. This outlook is supported by 10 years of data in many markets and fresh data in all 50. Among the key trends the study tracks are a growing tension between global and local.
Perspectives of globalization continue to improve in many countries around the world. Most people across the world believe that globalization is good for them personally (62 percent) and their country (66 percent) but while we appreciate globalization and how it helps create cross-cultural understanding and increases the accessibility of goods, we see nationalism prevailing at the governmental level and drawbridges being raised.
There is global consensus that climate change is a reality and existential threat. Eight in ten agree we are headed for environmental disaster unless we change our habits quickly. However, concern appears to have peaked after rising in recent years. There is rampant debate about how to address it: while some are putting the responsibility squarely on the shoulders of governments and systems, others — particularly younger people around the world — expect brands and governments to step up and solve systemic issues first.
Yet we are more hopeful about ourselves and our personal lives, even amidst this backdrop of disorder. But the polycrisis impacts our overall confidence. Only 31 percent are optimistic for the world in 2023. Closer in, most (58 percent) say they’re happy overall, and 59 percent are optimistic about the future for themselves and their family.
People do have common values, interests and goals. In fact, 80 percent of the world’s citizens think brands can make money and support good causes. Almost two thirds say they will pay more for brands that act responsibly (64 percent). Climate concern remains one of the strongest global values with 80 percent agreeing that we’re heading for environmental disaster unless we change our habits quickly.
How can business and governments both navigate these waters and help their customers and citizens thrive in them? There is an opportunity to rethink the structure and purpose of businesses and systems to create a positive impact on society. Global brands are in a unique position of power — they can bridge the gap between global and local by offering the best of both worlds. Through their actions, brands can make an incalculable impact on the world through the trust they've already earned with their consumers.
In depth analyses of Pakistan specific data vis-à-vis global, regional and emerging markets’ trends revealed following ten key insights;
Pakistan is different! Pakistan came out to be on the lower end of GDP per Capita ladder. The demography of a transitioning nation portrays Pakistanis a very young populace (55 percent under the age of 35) with 59 percent being Millennials and low on education
Pakistan is at the sharp end of the global climate crisis – Pakistanis were in the middle of the standings before the floods hit the country last year. But after, views are changing fast, especially among the young.
Mental well-being is secondary to physical well-being – Pakistan is one of only 11 of 50 countries where physical health is prioritised over mental wellbeing.
Brand image matters in Pakistan – 70 percent of Pakistanis are willing to spend more on a well-known brand. This in effect has caused growth in brands across categories
Pakistan – the home of data apathy – Contrary to global majority trend, Pakistanis are not concerned about their privacy or organizations/ government keeping track of them. But Pakistan is also in the top five countries concerned about technology as they also feel that “technical progress is destroying our lives”.
A nation of idlers? – Pakistanis are ranked the lowest in consumption of various forms of arts amongst the 50 countries and reports far lower engagement in fun, sports, and other leisure activities
Pakistan has trust in business leaders over government – People have more trust on the businesses’ leaders over government, in line with a broader trend in emerging markets
Pakistan’s attitudes to gender are far from the global average – 85% of the Pakistanis agree that women’s’ role is to be good mothers and wives.
Around 8 in 10 Pakistanis want a “Puraana” Pakistan – 83 percent of the people want the country to be the way it was before and 78 percent of the people said that if they were given a choice, they would like to grow up in the times in which their parents did.
Despite it all, Pakistanis remain optimistic – despite the fact an alarming percentage of people feel that the country is on the wrong path (86 percent) and 75 percent say that they are not happy, 53 percent of the people are still optimistic about the country’s future – 5th most optimistic country
Technical note: Ipsos interviewed 48,541 people aged 16+ between September and November 2022. In most markets this wave of the survey was carried out online. However, in some countries where internet penetration is lower, different methods were used: in Nigeria, and Zambia a face-to-face methodology was employed, while in Pakistan & Kenya the survey was carried out over the telephone.
The results are weighted to ensure that the sample’s composition reflects that of the adult population according to the most recent census data. Total global data has not been weighted by population size but are simply a market average. All polls are subject to a wide range of potential sources of error.
Copyright Business Recorder, 2023
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