Survey: Majority of Irish investors confident of future

Ireland’s top earners and investors retain strong confidence in the Irish economy, according to the results of a survey carried out by Friends First and F&C Ireland.

"As one of the leading providers of investment products, we are encouraged that despite cost of living increases and rising interest rates, confidence levels among Irish investors remain strong," according to Eamonn Twomey, Head of Marketing, Friends First.

The survey shows most investors feel that they will be financially better off next year and plan to continue the investment and savings habits formed over the past five years.

The research was carried out by Millward Brown IMS for the annual Friends First and F&C Investment Conference.

Eamonn Twomey, Head of Marketing Friends First said: "Despite rising interest rates and energy costs, Irish ABC1’s remain very confident of their current and future economic prospects. It is particularly notable that the under 35 age group records the most positive assessment of their situations with almost 60% indicating they are better off than they were this time last year and over 70% expecting to be better off in 2007."

However, a number of economic concerns have emerged from the research and are dampening expectations among higher earners.

Mortgage costs and pensions rank highest on the list of personal finance concerns among ABC1’s while childcare costs are only cited as a concern by 5% of the population surveyed.

Inflation, property price increases and energy prices are mentioned by over 80% of people as the factors most likely to derail the Irish economy.