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January 27, 2023
EDITORIALOP-EDOPINIONPOINTS OF VIEW

Romanians eager to start investing in 2023

Market commentary by eToro analyst for Romania, Bogdan Maioreanu

 With 2022’s end approaching, people are starting to sort their goals for the new year. According to a survey carried out by the eToro social investment platform, in 2023 the top priorities are health, finances, personal and professional development.

Romanian respondents say that to spend more time with friends and family is the easiest resolution to keep, followed by having a healthy diet, saving 30% of the revenue and exercising 3 to 5 times per week. Romanians find it harder to read more books than to exercise. The hardest pledge is to make regular investments.

Despite this, Romanian respondents say that to start investing for the future is one of the most important financial decisions for 2023, topped only by the desire to start a new side hustle. We have the largest percentage in all the countries surveyed when it comes to the desire to start investing for the future, even ahead of  the US. This is showing that Romanians are preoccupied with building their prosperity.

The eToro survey shows that next year those like the US and UK with the strongest investing cultures are preparing for investing more whilst others with less of an investing tradition, like Romania, have a clear appetite for starting investing. This also puts pressure on companies to respond to the specific needs of the growing cohort of retail investors, with better access, engagement, and research.

New Year Resolutions are not something that started in the last few years. According to a 1671 entry from the diaries of Anne Halkett, a writer and member of the Scottish gentry, a number of pledges, typically taken from biblical verses, were titled “Resolutions”, and written on January 2nd. It was common enough by the beginning of the 19th century that people would make (and fail to keep) such resolutions.

For 2023, making New Year Resolutions is most popular in Spain, Italy, Poland and Romania, the eToro survey reveals. While in Spain 80% of the people plan to do this, in Italy there are 79%, in Poland 72% and in Romania 66%. The least inclined to make any New Year Resolutions this year are the Germans with only 45% answering yes to the question followed by Czechs with 52%.

Age is also a factor. At a global level, 72.4% of people aged between 16 and 24 years are planning to make New Year Resolutions and this percentage decreases to 44% in the 55 to 65 years category. Romanians are more enthusiastic even at older age, 56% of the 55 to 65 years old are doing this. In 2022, more than 61% of Romanians made a New Year resolution but for next year the percentage will increase by 6%, reaching 67%.

For 2022, most Romanian men were favoring financial resolutions while most women were favoring health and wellness. In 2023, health and wellness is the main resolution for both sexes, almost at the same level with the financial goals resolution which comes in second.

For Romanians the most important decision in 2023 is to become healthier (51%) followed by financial goals (50%). At the global level, improving health and wellbeing is the main resolution for next year followed by financial goals and fitness. Fitness, however, is not a top priority for Romanians, being very close to the end of the list.

 

About this report

 

The research above was based on a 2000 person nationally representative survey of Romanian adults, carried out by Appinio between November 28th and December 2nd.
Bogdan Maioreanu, eToro analyst and markets commentator, has over 20 years of experience in financial services and investments and a strong background in journalism. He held different Corporate Banking management positions in both Raiffeisen Bank and OTP Bank, before moving to business consultancy roles working for IBM Romania among others. Bogdan is an Executive MBA from Asebuss and Washington University.

 

About eToro


eToro is a multi-asset investment platform that empowers people to grow their knowledge and wealth as part of a global community of successful investors. eToro was founded in 2007 with the vision of opening up the global markets so that everyone can trade and invest in a simple and transparent way. Today, eToro is a global community of more than 30 million registered users who share their investment strategies; and anyone can follow the approaches of those who have been the most successful. Due to the simplicity of the platform users can easily buy, hold and sell assets, monitor their portfolio in real time, and transact whenever they want.

 

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