Two thirds of British consumers (67%) state that their disposable income decreased ‘a lot’ in the last 12 months, according to data from YouGov’s new Financial Outlook 2023 global whitepaper from YouGov Profiles. The same number (67%) also predict their disposable income to decrease ‘a lot’ in the next 12 months (29% decrease a lot and 31% decrease a little).
This is higher than Germany (66%), France (64%) and the US (52%), and the fourth highest globally.
Britain also reports the highest proportion expecting to face further financial challenges in the year to come. Six in ten Britons (60%) expect their disposable income to decrease in the next 12 months (29% decrease a lot and 31% decrease a little).
Overall, European markets have a more pessimistic view on future disposable income compared to the US and Mexico, and APAC regions.
Of the 18 countries included in the study, Britain’s spending power has been most impacted globally in the last 12 months. YouGov’s Discretionary Spend Index (DSI) finds it to have the highest negative impact score at -52%.
Britain is closely followed by Italy (-49%) and Poland (-46%), while the US stands -36%, all of which are higher than the global average of -35%
