Economics
Gen-Z in India More Inclined to Save Than Spend, Survey Shows
- About 32% of those surveyed chose savings over spending
- Gen-Zers already among the biggest chunk of India’s population
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A majority of India’s Generation Z, whose oldest members are in their early 20s, are leaning toward saving money as they enter the workforce in a world rife with pandemic-induced uncertainty, new research shows.
The generation born from 1997 to 2012 is inclined to rather save than spend, with about 32% of them surveyed choosing savings, according to the study by Viral Fission, a youth community platform. About 23% of respondents favored the safety of fixed deposits, which was almost double the number who said they would invest in cryptocurrencies.