Deep depression: No country is more pessimistic than Hungary right now

Hungarians currently appear to be the most pessimistic nation in the world, according to the GWI global consumer attitudes survey presented by Publicis at a press event on 14 April. The data show that 72 percent of Hungarians think the country’s economic situation will get worse in the next 6 months. 44 percent think their own economic situation will also get worse.

“It’s clear that Hungarians are very pessimistic in the world,” said Helga Major, Head of Strategy at Publicis Group, while presenting GWI’s global consumer attitudes data, Pénzcentrum reports. In fact, the data shows that 72 percent of Hungarians believe the country’s economic situation will get worse in the next 6 months, and 44 percent believe their own economic situation will get worse as well.

Both rates are the highest of the 52 countries surveyed. The situation in Europe was also presented at the press event also attended by Pénzcentrum. On average, 51 percent of people on the continent thought their country’s economic situation would worsen, while only 29 percent thought their own would get worse.

In comparison, the Hungarian average of 72 and 44 percent is much higher.

At the press event, Dr. Ágnes Neulinger, a behavioural scientist at the University of Pécs, said that she was not surprised by these blatant data. After all, apart from the fact that the current economic situation is bad, Hungarian pessimism can be linked to the values of the people living here. The researcher said that most Hungarians suffer from trust issues, which are coupled with high individualism and low solidarity.

The high level of pessimism is somewhat offset by the fact that the domestic 16-26 year old generation Z is still highly optimistic about their own finances. 34 percent of them is holding a positive view, which may be partly due to age, Pénzcentrum reports. In comparison, however, the financial awareness of Hungarians is one of the lowest in the EU. We are less likely to use our mobile phones to track and plan our finances and spending, with 33 percent of us, where our neighbours are stronger (Czechs: 50 percent, Poles: 39 percent).

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