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Home arrow Market Research Findings arrow General Finance arrow How Do Slovaks Perceive The Financial Crisis?
How Do Slovaks Perceive The Financial Crisis? PDF Print E-mail
Written by GfK NOP   
27 Oct 2008

October 23rd 2008 – Bratislava

The expanding global financial crisis is becoming a subject of interest for increasing portion of the Slovak population as only 5% of the polled respondents say it is irrelevant to them. At the same time, half of all people in Slovakia admit slight concerns in relation to the news about the crisis in the USA and its recent expansion to Europe. Another third of the Slovak population feels deep concerns based on the news. Despite these figures, Slovaks tend to be slightly optimistic when it comes to potential impact of the crisis on the Slovak economy. These are some of the findings of a survey conducted recently by GfK Slovakia on a sample comprising 500 respondents.

Even though Slovaks do realise existence of the financial crisis, more than half of the Slovak population believe that its impact on the Slovak economy should be less heavy in comparison to the western markets. Approximately 38 % estimate that the consequences will be equally serious for Slovakia as they will be for the USA and Western Europe.

So far, banks in Slovakia have enjoyed high level of trust with over 60% Slovaks believing that they are not threatened by financial difficulties similar to those troubling their counterparts in the USA and Western Europe. 

With respect to the high level of trust in banks, respondents don’t feel that their bank savings are in imminent danger. One half of the whole population have no fears in this respect and another 30 per cent indicated they only felt slight concerns about their money deposited in banks.

A rather prudent and cold-blooded attitude of Slovaks to the crisis is confirmed by the fact that so far, more than 90% haven’t taken any steps to prevent possible financial losses. The rest of the polled respondents re-considered their savings and most often chose to deposit their money in several banks or to invest in safer and less risky investment tools.  

The survey also explored what Slovaks would give up in case they had to curb their financial expenditures or the expenditures of their household. Cafés and restaurants would be first to go, followed by travelling and holiday. Then they would stop buying electronics and appliances and finally, they would renounce fun and leisure activities. The least probable area of cutting expenditures is food, transport, or perhaps travel expenses and the Internet.


Last Updated ( 03 Jan 2009 )
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