FT vertical logo in pink and black

02

volume 02 | April 2024

Discover what’s on the minds of FT readers, from business priorities to their feelings about what topics earn too much (or too little) coverage in the news

FT Audience Barometer

Discover what’s on the minds of FT readers, from business priorities to their feelings about what topics earn too much (or too little) coverage in the news

Discover what’s on the minds of FT readers, from business priorities to their feelings about what topics earn too much (or too little) coverage in the news

Welcome to the second edition of the FT Audience Barometer. We’ve taken the raw responses from our latest FT audience survey, sprinkled in some analysis and geopolitical context, and added in a dash of data visualisation to serve up some tasty insights into how FT readers feel about the current – and future – state of the world.

In this issue…

Dive into the details below and get to know what’s on the minds of the FT audience.

Economic outlook:

hope is on the horizon

Despite current geopolitical tensions, confidence in the global economy, at least for the near future, has risen since Q3 ’23.

This is most marked in the APAC region where the percentage of FT readers who think conditions will improve over the next six months rose from 38 per cent to 56 per cent, and those who think things will decline fell from 43 per cent to 31 per cent. This is a remarkable turnaround from Q4 ’22 when the majority of readers (76 per cent) believed the global economy was in decline. This new confidence is likely to be driven, in part, by India’s surging stock market and new growth momentum in Singapore.

0%

In CEMEA, the majority of FT readers remained pessimistic about local economic conditions over the next six months, perhaps a product of Germany’s ongoing malaise, which saw the regional powerhouse’s economy contract by 0.3 per cent in 2023, the worst performance of any major economy.

Globally, FT readers remained broadly positive about the outlook for their industry sector over the next six months, with only 22 per cent thinking it would decline. Readers working in finance were most positive, particularly in the US, where 62 per cent of respondents felt things would improve over the next six months, up from 34 per cent last quarter, possibly the result of growing optimism that AI will boost productivity in the sector.

However, FT readers working in the CEMEA energy manufacturing and engineering sector were much more pessimistic about the future. In Q3 ’23, 62 per cent of respondents in this demogrphic had thought conditions would improve for their industry and 21 per cent had thought things would decline, but by Q4 ’23, optimism had fallen to 34 per cent and those feeling pessimistic had risen to 34 per cent, possibly a product of the European energy sector being both flooded with cheaper Chinese imports and left behind by American competitors boosted by the Inflation Reduction Act.

Business confidence:

readers in APAC feeling more optimistic

Business confidence – belief that one’s company can successfully navigate the current economic and geopolitical climate – among FT readers has risen slightly across regions since our last survey.

The biggest jump by far occurred in the APAC region where net confidence was up from 68 per cent to 82 per cent since last quarter. Multiple factors are certainly at play here, but one of them could be receding fears that a soaring post-pandemic Chinese economy would cause inflation across the region (following China’s relatively underpowered performance since the removal of lockdown restrictions).

0%

Understandably, there has been a dip in confidence among FT readers in the Americas, where net confidence fell from 81 per cent to 77 per cent, likely a result of growing concerns that 2024 will be a destabilising and chaotic election year.

Business priorities:

cost cutting remains high across sectors

Among FT readers who work in the energy, manufacturing and engineering sector, those prioritising cutting costs jumped considerably.

The number rose from 38 per cent to 62 per cent, possibly triggered by fears of supply chain disruption and oil price inflation driven by the Houthi attacks in the Red Sea in response to the Israel-Hamas war.

0%

Conflict in the Middle East, from Gaza to the Bab el-Mandeb Strait, has also caused a slump in tourism to the region, one of the likely reasons why 45 per cent of FT readers who work in the retail, travel and leisure sectors in CEMEA are prioritising risk management. In the UK, finding and keeping talent was by a long way the top priority for FT readers who work in the government, health and NGO (74 per cent) and education (69 per cent) sectors, possibly a product of the expected changes to immigration rules that will considerably increase the costs of hiring from overseas.

Corporate messaging:

trust continues to top the list

In terms of corporate messaging to stakeholders, FT readers felt “trust” was the top communication priority.

This was particularly true in the UK, where 57 per cent of readers thought it a priority, a long way ahead of having an “experienced leadership team” (44 per cent). This may be a result of recent high-profile cases of corporate mismanagement, including the Post Office scandal and pandemic procurement cronyism.

0%

Special Report:

media and news coverage

FT readers anticipate that the year’s news cycle will be dominated by two major themes: geopolitics and elections.

Geopolitical tensions and this year’s historic number of elections around the world unsurprisingly top the list for FT readers. Geopolitically, the rest of 2024 looks likely to be fraught, with the ongoing wars in Ukraine and Gaza, heightened tensions across the Middle East and the growing sense that we are entering an era of multipolarity with all the battles for influence that implies.

This feeling of uncertainty is compounded by the unprecedented number of elections this year, from Bangladesh to the US, each of which will be a test of one of today’s thorniest topics: whether democracy can survive 2024.

When considering coverage of specific issues, 52 per cent of FT readers felt immigration received too much media attention. Possibly our readers agree with the Financial Times’s Simon Kuper that the confected “war on migration” is a battle designed to be lost.

0%

Existential threats such as climate change, however, aren’t receiving enough attention from news outlets. On average, 35 per cent of FT readers believe the looming crises need more coverage (a figure that jumped to 46 per cent among women). This frustration could be interpreted in the context of the recent fracturing of the media, which has created new platforms for climate denialism, particularly online.

When asked about the impact of current affairs on their personal lives, FT readers globally were most concerned about changes in the political landscape and geopolitical tensions. But for UK readers, access to and quality of healthcare topped the pile with 55 per cent (compared to just 34 per cent of readers in CEMEA), a consequence, clearly, of the ongoing fragility of the NHS.

Unsurprisingly, there was considerable divergence between the under 45s and over 45s, with the former more likely to think they will be affected by financial uncertainty, the acceleration of new technologies and changing work models. Interesting patterns emerge when it comes to intergenerational attitudes to issues such as climate change. In the Americas there is a 15 point gap between the 45+ cohort and their younger peers, but it’s only four points in the UK, confirmation perhaps of the FT’s John Burn-Murdoch’s findings on Britain’s non-partisan approach to climate issues.

Special report:

personal finance & NGO attitudes

In the second special section we learned that FT readers saw their weekly expenses increase in 2023.

69 per cent of FT readers saw expenses increase, but the great majority lived comfortably (81 per cent). This was reflected in respondents' philanthropy with 64 per cent regularly donating to NGOs and charities.

When it comes to planned purchases, nearly half of our cohort of FT readers (49 per cent) plan to spend substantially on travel this year, reflecting optimism among Europe’s airlines, who are preparing for a bumper summer.

What is the FT Audience Barometer?

The FT Audience Barometer is an analysis based on data from a short survey conducted multiple times a year that measures the sentiment of FT readers. The Barometer does not include all findings or focus areas from the survey, but instead chooses different data to analyse so that we can keep each edition unique, fresh and insightful.

What the FT Barometer survey focuses on

Since its inception in March 2020, the Barometer survey has had over 15,000 responses from the FT audience.

Each wave of the survey asks the same set of questions across

Four core areas:

Perception of economic conditions – global, local, industry and company-wide

Most important business goals and priorities in the next six months

Importance of business communication

Corporate messages to communicate to key stakeholders

But each wave of the survey also includes different themed sections. This time, the survey focused on media coverage and feelings about personal finance/NGOs.

The Q4 2023 survey link was emailed to readers of the FT (print and/or digital) and members of the FT Feedback Forum. Some 729 respondents completed the survey.