Current survey by UniCredit Bank Austria on investment behaviour in Austria:
High inflation and increased interest rates shape current investor sentiment
- 80 percent of those surveyed are worried about inflation, the significantly higher interest rates are triggering a real boom in “saving at the bank”, interest in this has doubled
- Interest in securities continues to grow, especially among younger investors, actual securities investments remain stable, securities savings are particularly interesting
- Real asset loss in recent years could be avoided by investing in securities
- Financial provision for the future is particularly important for women because of the high proportion of part-time work and because of the gender pay gap
- In the case of sustainable investments, the credibility and transparency of the products are gaining in importance; the prospect of attractive returns is also indispensable for investors in ESG investments
The current Marketagent.com survey of 606 interviewees on behalf of UniCredit Bank Austria on the investment behaviour of Austrians shows that high inflation is the dominant topic in investment behaviour. 8 out of 10 of the respondents are worried about inflation. At the same time, the increased interest rates fuel the topic of “saving at the bank”, the interest in this has almost doubled (from 30 percent in 2022 to 56 percent in 2023), the interest in securities also continues to rise (2023: 35 percent, 2022: 31 percent). Inflation and higher interest rates, however, lead to different reactions among consumers and show a wide range of findings: while 41 percent of the respondents save less than recently, 29 percent save more than before.
“Interest in saving at the bank has almost doubled compared to the previous year due to higher interest rates and after the long period of low interest rates and has again reached a peak level. Saving continues to be the most popular form of investment”, says Robert Zadrazil, CEO of UniCredit Bank Austria, “interest in securities also continues to grow, especially among younger investors. 38 percent of those surveyed said they had already had good experiences with securities investments. Saving with securities is particularly popular.”
Securities remain an important part of a balanced investment strategy
When asked about the savings and investment forms actually used, savings products are the most common form of investment at 72 percent (previous year: 57 percent), while the use of securities remains stable at 27 percent (2022: 28 percent). Securities savings are particularly interesting for securities customers: Around 50 percent of this customer group use securities savings and another 25 percent would like to use this form of investment in the future.
Investment forms such as private pension provision (2023: 13 percent, 2022: 22 percent), life insurance (2023: 26 percent, 2022: 29 percent) and real estate (2023: 19 percent, 2022: 25 percent) have declined.
Real wealth preservation through securities investments was possible in the last 10 years
Despite higher interest rates, the financial assets of households in Austria, which averaged around 500 billion euros over the last ten years, are likely to have suffered a real loss of 100 billion euros over this period, mainly due to high inflation in the last two years. In 2022, investments in securities also did not achieve a positive real return due to market developments, but households that invested their financial assets in securities were able to maintain the real value of their assets over the last ten years, while assets invested in savings deposits lost around 25 percent of their real value due to inflation. “In the long term, investments in securities were able to maintain the real value of assets despite the inflation shock of 2022 and the difficult market development, and this can also be expected in the future”, says UniCredit Bank Austria’s Chief Economist Stefan Bruckbauer and adds, “with investments exclusively in bank deposits, this will not be possible in the next few years either, despite increased interest rates.”
Investor typology
Within the framework of an investor typology, the “risk takers” in Austria are still clearly in the minority (7 percent), a further 12 percent of respondents are “risk avoiders”, 43 percent are among the “cautious” (2019: 49 percent). Compared to 2019, however, the segment of “moderate” investors has grown the most, which now includes 38 percent of respondents (2019: 29 percent). These are people who have already had their first experience with securities and are interested in new investment trends.
Younger investors in particular see securities as an attractive investment opportunity. Since 2019, the value for the use of this asset class has doubled among bank customers under 30 years of age, from 14 percent to 28 percent.
Prevention is particularly important for women
The difference between men and women in terms of investment is clear: while savings come first for both genders (men 73 percent, women 72 percent), investment in securities follows in second place for men with 39 percent, which only comes in fourth place for women with 16 percent. Women give preference to building savings (32 per cent), life insurance (22 per cent) and real estate (17 per cent) over securities. Since 2019, the gap between women and men has even widened.
“The investment of savings plays an indispensable role in providing for the future. On the one hand, it is important to set aside a nest egg for the short term, but on the other hand, despite certain risks, there is hardly any way around investments in securities for the long-term preservation of assets. It is important to increase the awareness about financial provision for the future, especially for women. At UniCredit Bank Austria, we offer highly qualified advice on what options are available”, says Daniela Barco, Member of the Management Board of UniCredit Bank Austria responsible for Retail.
Sustainable investments must offer attractive returns
For 90 percent of securities owners, attractive returns are also indispensable for sustainable investments (2019: 89 percent), 74 percent name “investing with a clear conscience” as a motive (2019: 78 percent). 88 percent of securities owners now also have sustainable investments (2019: 80 percent). There is a growing demand for high product credibility and a clear distinction from greenwashing (40 percent of securities owners demand a clearly defined connection between the investment and sustainable criteria).
If you want to take advantage of the opportunities offered by the capital markets and invest sustainably at the same time, you can find out more about sustainable investments at Nachhaltig investieren – Nachhaltige Investments | Bank Austria. UniCredit Bank Austria currently offers an attractive investment package (AnlagePaket) starting at EUR 5,000, whereby 50 percent of the investment amount is saved in a fixed-interest savings account at 4 percent p.a. with a 6-month commitment and 50 percent is invested in various securities of selected investment products over the longer term.
For new customers who want to invest money with UniCredit Bank Austria for the first time, the Sparkonto fix PLUS savings account currently offers particularly attractive conditions: 3.5 per cent p.a. with a 12-month commitment and 3 per cent p.a. with a 6month commitment. The Sparkonto fix offers attractive interest rates for online savings in the MobileBanking App & in 24You InternetBanking with a fixed term for deposits of 500 euros or more: 3 per cent p.a. for 18 months, 2.75 per cent p.a. for 12 months and 2.25 per cent p.a. for 6 months.
Sparen & Veranlagen mit dem Anlagepaket | Bank Austria1
Sparkonto online eröffnen - Sparkonto fix und Sparkonto 24h | Bank Austria1
Enquiries:
UniCredit Bank Austria Media Relations
Matthias Raftl, Tel.: +43 (0) 5 05 05-52809;
e-mail: matthias.raftl@unicreditgroup.at
1 Notes & legal information on the investment package (AnlagePaket) and the Sparkonto fix PLUS as well as the Sparkonto fix can be found on our homepage under the links provided.