According to Ipsos, a market research company, in its annual Predictions survey, 48% of Singaporeans, reflecting on 2023, feel that it was a bad year for Singapore, marking a 9% decrease in dissatisfaction compared to 2022. Similarly, 47% of Singaporeans report that 2023 was challenging for them and their families, an 8% drop from the previous year.
This survey covers the findings from among 500 Singaporeans giving their take on the year just gone – and sharing what they think lies ahead.
Economic concerns continue to loom large as Singaporeans head into the new year with apprehensions about inflation, interest rates, and unemployment.
A considerable 82% of citizens believe inflation will rise in 2024, albeit this is a 4% decrease in concern compared to last year. Interest rate worries are also notable, with 76% expecting an increase, showing a decrease of 6% in concern. Unemployment fears largely remain, with 72% bracing for higher rates, up by 1% from 2022.
On the international stage, 32% of Singaporeans think former President Donald Trump will reclaim the presidency in the United States, a notable shift from the 14% who believed in his election in 2016. This is closely aligned with the 35% of Americans who anticipate his re-election in 2024.
Additionally, 32% of Singaporeans remain hopeful that the conflict in Ukraine will resolve in 2024, though a decrease of 7% from the previous year.
In the realm of technology, the public opinion is divided. While 69% of Singaporeans are concerned that artificial intelligence (AI) will result in job losses, an almost equal number (63%) believe that AI will create new employment opportunities.
The medical field is expected to embrace technology further, with 66% of respondents confident that doctors will regularly utilize AI for patient treatment decisions. Data privacy continues to be a concern, with 59% of the populace fearing personal data leaks, and 60% foresee the development of human-like robots. Social media usage is projected to decline, with 43% of Singaporeans planning to reduce their time on these platforms.
Looking towards the future, 59% of respondents believe the global economy will strengthen in 2024. Moreover, personal optimism is on the rise, with 71% of citizens feeling hopeful that 2024 will be a better year for them, an 8% increase in optimism from the year before.
Finally, commitment to personal growth and community contribution remains strong, with 79% planning to make resolutions for self-improvement or to help others, up by 2% from 2022.
Singaporeans are cautiously optimistic about the coming year, balancing their economic concerns with a positive outlook on personal and global recovery.
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