Emerging Asia Middle-Class Consumer Survey Emerging Asia Middle-Class Consumer Survey
Emerging Asia Middle-Class Consumer Survey
2024 Key Highlights

In the 2024 study, we focus on the role of family, the need for old age care, the rising importance of the women consumer groups, the importance of home insurance and consumers' experience with insurance claims. The study covered over 7,000 middle-class consumers from China, India, Indonesia, Malaysia, the Philipppines and Vietnam.

Family support
71%

Percentage of respondents that cited family as their main source of support in case of illnesses and diseases

Caregivers
80%

Percentage of respondents that consider themselves caregivers to their parents and/or parents-in-laws

Working mothers
77%

The share of middle-class women that consider themselves as "working mothers"

Home insurance
38%

Ownership rate of home insurance among middle-class respondents

Submitting insurance claims
18%

Share of respondents who  said their claims were fully paid

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Old Age Care
The need to care for the elderly is rapidly rising as a major issue for Asian societies
Key observations
01
Self-reliance evident as primary source of funding for elderly care

Middle-class Asian consumers expect their own savings, insurance, and family support to be their main sources of finance. On the other hand, there is generally a low reliance on government’s support.
Malaysians reported that they are most likely to rely on their own savings. In contrast, Indonesians and Chinese have a higher expectation of support from insurance. Meanwhile, those in India, the Philippines, and Vietnam show a relatively greater dependence on family support.

02
Care services most needed in old age

Health check-ups, living close to family members and advice on how to retain a healthy lifestyle are the top type of services middle-class Asians would need the most for aging parents. These services are consistently valued across different countries, reflecting common concerns and priorities among middle-class families in Emerging Asia.

03
Consumers prefer home care as long as they can in old age

Most would rather stay at home and be looked after by family members, especially their partners. China shows a slightly distinct pattern, with stronger preference for staying in public old-age care facilities compared to other markets. 

Key Findings on Old Age Care
Self-reliance is evident as the primary source of funding for elderly care
Top-of-the-mind list of care services needed in old age
Consumers prefer home care as long as they can in old age
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