Stocks on the Rise: More and More Austrians Investing in Securities
Although Austrians still tend towards traditional savings, interest in alternatives like stocks has recently increased. This is shown by the so-called Financial Monitor of Bank Austria, for which around 600 bank customers were surveyed. According to this, 42 percent are interested in securities products, up from 35 percent in the previous year. The actual ownership of such investments has also risen to 37 percent compared to the previous year (28 percent).
Younger people invest more often in stocks and funds
Especially younger people are increasingly turning to securities. Already 41 percent of those under 30 own securities today, compared to 34 percent last year, and only 28 percent in 2023, a significant increase within a few years. Women are also becoming more interested in alternatives to traditional savings, but they still use them significantly less often than men. While nearly half of men (49 percent) state that they use securities specifically for their own future provision, this is significantly less common among women at only 24 percent. The reason for the discrepancy: women are significantly more risk-averse than men, according to Bank Austria.
Tendency towards traditional saving remains strong
The piggy bank has not become obsolete for Austrians, who traditionally tend to save, despite the greater interest in securities. 72 percent use traditional savings products (2024: 69 percent), 52 percent consider saving to be interesting (previous year: 53 percent). In the midst of the tense economic situation, people also set aside more money than in the previous year: the average monthly savings amount (median) increased from 200 to 250 euros per month. Savings are made for emergencies, larger purchases or expenses, and retirement provision.
Homeownership is also gaining attractiveness again. At least 30 percent of respondents consider real estate to be "particularly interesting," while only 26 percent said this in 2024. However, for many, an investment is not realistic: more than two-thirds of respondents (73 percent) lack equity (2024: 66 percent), and slightly less than one-fifth of those who have considered real estate as an investment are waiting for lower prices.
Securities as a "win-win strategy"
Bank Austria CEO Ivan Vlaho highlighted the advantages of investment forms like stocks in a press release: An investment could represent a "win-win strategy" as investors have the chance to achieve long-term returns despite "manageable risks" and thereby equally strengthen the economy. Furthermore, long-term investments in securities "make a significant contribution to provision and maintaining the real value of financial assets, which would otherwise be doomed to shrink due to high inflation."
(APA/Red)
This article has been automatically translated, read the original article here.