Majority of Singaporeans forced to reduce savings due to pandemic: research

clock • 2 min read

New research from AAM Advisory has revealed that the covid-19 pandemic has caused the majority of Singaporeans to reduce how much money they save. When respondents were asked whether they had been able to save more during the Covid-19 pandemic, just 17% said that they were. However, over a third of all people surveyed said that the pandemic had affected their saving with 25% of respondents saying they were now saving less and 11% said they had lost their income altogether and could not save at all. The middle aged were the most impacted with 30% of 45-54-year olds saying they had h...

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Author spotlight

Christopher Copper-Ind

Christopher Copper-Ind is editor-in-chief of International Investment. Before this, he was editorial director of The Business Year, from 2014 to 2017.