Customer Financial Priorities 2024

The year 2024 presents significant challenges for businesses, whether small enterprises or large-scale corporations. Social, political, and global issues are prominent, leading to shifts in how people allocate their finances. So, what are the primary financial priorities for Indonesians in 2024?

Figure 1 Customer Earning Estimate 2023 & 2024

As shown in Figure 1, most customers expect their income to increase in 2024. About 41.9% of customers believe their income will grow by 1–30%. There is also a notable rise in the number of customers expecting their income to increase by more than 30%, with a 6% growth compared to the previous year. This anticipated income growth will undoubtedly influence their financial priorities for 2024.

Figure 2 Customer Financial Priorities in 2023 & 2024

Overall, business capital remains the top financial priority for customers in 2024, as it was in 2023. However, its significance has grown, with the proportion of customers prioritizing business capital rising from 51.6% in 2023 to 63.9% in 2024.

Conversely, the lowest financial priority in 2024 is purchasing gadgets and electronics, with only 20.1% of customers considering it important—a decline from the previous year.

When comparing the top five financial priorities for 2024 with those of 2023, there are noticeable changes:

• 2024 Financial Priorities (Top 5):
  • Business capital
  • Education Expenses
  • Owning Property  (land, houses, apartments, etc.)
  • Owning Investments (stocks, mutual funds, gold, etc.)
  • Purchasing Household Appliances
• 2023 Financial Priorities (Top 5):
  • Business capital
  • Education Expenses
  • Owning Investments (stocks, mutual funds, gold, etc.)
  • Owning Property (land, houses, apartments, etc.)
  • Purchasing Household Appliances

In 2024, property ownership moved up to the third position, surpassing investments, which ranked third in 2023.