Survey Report: Investment in Taiwan - October 2021

When it comes to income budgeting, Taiwanese mainly keep it in the savings rather than making investment. When asked about how they will support their retirement life, the majority say they will rely on the savings they keep before retiring.

Key findings

• The survey result indicates half of Taiwanese have more money in their savings than the investment portfolio, whereas 20% have more in investment than savings. The overall budgeting in October is similar to the first half of 2021.
  
  
• Banking apps have 75% of usage rate while web banking services have nearly 60%. As to frequency of use, banking apps have higher percentage. In addition, only 10% do not use Internet banking at all.
  
  
• The application rate of web only bank accounts has risen from 5.4% to 13.2% within 6 months. However, there's a drop in interested applicants. The main reasons are "they don't have such demand" and "IT security concerns".
  
  

Recommendations

Although Taiwan stocks remain to be the most popular investment choice, the growing trend of insurance products in the second half of the year also depicts the diversification of people's investment choices and portfolio. Our reports finds increasing usage rate of Internet banking, but the enthusiasm for switching to web only bank accounts are wearing off. The lowered demand/motivation of opening web only bank accounts will be financial brands' next challenge.

Download the report here!