In the United States, analysts are saying that after the necessary commodities (likes bills and the rent paid) are paid for, most Americans like to spend their extra cash on technology. Have you wondered if the rest of the world likes to do the same?
A global survey of 1,500 respondents from six continents (excluding Antarctica) by Acceleration Partners, a UK-based digital marketing agency, found that consumers in North America (about 34% of the total surveyed) said that tech-related purchases (that new Amazon Echo, Alexa, whathaveyou) were their “biggest sector spend,” according to this report.
Meanwhile, it’s all pampering, beauty, and fashion products with Europeans (31%) and South Americans (17%) when it comes to their extra cash, while Asian respondents apparently preferred to spend more on going out for food and drink, while African respondents said they would rather spend their extra cash on leisure pursuits.
Australian people meanwhile, apparently opt to book that flight or hop on that cruise as 24% claim they like to spend their leftover income on both domestic and international travel.
Participants in the survey were at least 21 years old and employed full-time at the time it was conducted.
But with mounting prices of most basic goods across the world, which region still feels that they have the capability to treat themselves after responsibilities have been checked off on the budget list?
The survey found that Asian people felt more “flush with cash” even after paying for rent and other bills, while North American respondents said at least 14% of their income was up for their own discretion.
Overall, Australians felt that they had the least amount of extra money to spend, with respondents saying they only had 6% of their income to use freely, after covering their primary expenses.
The report said this was reflective of the steadily fast pace at which Australia’s living costs was rising, so it wasn’t surprising our Australian friends felt they had limited resources to spend on more frivolous things.