Ipsos study shows seven in 10 Malaysians upbeat about country’s future and economy, but still worrying about corruption and crime

KUALA LUMPUR, Nov 6 — Seven out of 10 Malaysians are confident about their country’s future, with many expressing increased confidence in the economy and the government’s handling of inflation, according to the latest survey released today by global pollster and market research firm Ipsos.

In its report titled “What Worries Malaysia”, Ipsos found 71 per cent of Malaysians aged 16 to 74 believe the country is heading in the right direction, a notable upward shift of 19 per cent in sentiment compared to the same period in October last year.

The survey also found 72 per cent of Malaysians are feeling good about the current state of the economy, with a positive outlook on jobs and inflation compared to a year ago, which appears to be based on the country’s post-pandemic recovery, as well as measures taken by the government to stabilise the economy and address cost-of-living pressures.

The Ipsos survey also reported a 12 per cent increase in Malaysian consumers’ confidence in October on a year-to-year basis.

Despite a couple of dips in March and September this year, the consumer confidence index for October 2024 grew to 58 per cent, higher than the rest of the world that averaged at 49 per cent.

Malaysians’ worry about inflation has also gone down by 21 per cent to 25 per cent in October compared to a year ago.

Also down on a year-to-year basis are Malaysian concerns about financial/political corruption, unemployment, poverty and social inequality.

Despite falling 4 per cent compared to a year ago, worry about corruption stood at 47 per cent, and occupies the top concern out of the five key issues listed in the Ipsos survey.

Next top concern for Malaysians at 34 per cent is unemployment, which marked a slight dip of 2 per cent compared to October 2023.

Poverty and social inequality was recorded at 31 per cent this year, a 7 per cent drop compared to October last year.

The only worry that has grown higher in keeping Malaysians up at night is the incidents of crime and violence, which measured at 29 per cent in October this year, up 14 per cent compared to last year.

“While the optimism levels in other Southeast Asian countries and the world have remained constant or declined over the past year, Malaysia’s sustained growth of optimism indicates a positive outlook among its citizens.

“While Malaysians have gained confidence in their economic outlooks, it is important to reassure the public that our society is free from corruption and crime to sustain long-term confidence about the country’ direction,” Ipsos Malaysia’s interim country manager, Evelyn Tan, said in a statement accompanying the report findings.