For many Austrians, the subject of investment is still a book with seven seals. Although the stock markets are going well, the majority continue to adhere to the good old savings book. Safety still has the higher risk of shares & Co.
Only three out of ten Austrians treat intensively with their finances. The reason: the majority knows too little with alternatives to the classic savings book such as shares or bonds. According to a current study by the market agent Institute, the respondents only give themselves the modest school degree 3.6 with regard to their average knowledge. No wonder that the savings book will continue to dominate private investors. More than half of them (53.7 percent) currently park their money in the savings account or have a home saving contract.
“The share is a niche product in Austria. Access is closed for many – whether it is emotional, cognitive or financial. Four out of ten respondents, for example, report that they simply have no money to invest. Just like many are afraid because they have no knowledge or because they are afraid of the risk of the potential of the capital market and founder. Managing director of market agent.
The answer is also clear for the question of what you would do with 10,000 euros, the answer is clearly available: in this case every third party for the savings book (see image below) decides. Products such as shares and funds (18.2 percent) only follow a clear distance, debts (17.7 percent) or travel (13.4 percent).
Asked the conservative facility
In the ten years of “zero interest rate policy” of the European Central Bank (ECB) until 2022, the stock markets slowly moved in the focus of the general public. Nevertheless, less than a third of the Austrians (29.4 percent) continued to invest in shares, stock funds, ETFs or bonds. In addition to the lack of knowledge, the main reason is the generally low risk of risk for the Austrians. A good two -thirds (68 percent) describes itself as a risk units or even risk bars when investing. However, the young person (“Generation Z”) is much more risky than older (“Baby Boomer”).
Gold is currently ahead
Although only every fifth Austrian currently has precious metals in his portfolio, almost half of the Gold & Co surveyed regards. Currently the most attractive form of investments. Real estate (43.2 percent) follows and – not surprisingly – the savings book (42.9 percent). At the bottom of the scale there are cryptocurrencies that consider 14 percent attractive. But here too it is an age question. While only 1.8 percent of baby boomers see this, every fourth of the “Generation Z” Bitcoin & Co. interesting.
Only a few Austrians want to invest in shares in the future
The high safety needs in Germany can also be seen in the planned investments of the respondents. Only 22 percent want to invest (more) money in shares in the future. The value in women (15 percent) and the “baby boomers” (10 percent) is even lower. The willingness is slightly higher for the young generation, but there is also skepticism above.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
