Slovaks' investment literacy has slightly increased, however, Czechs are significantly ahead, Wood & Company's investment platform reported on Monday based on the updated data of their investment literacy index survey, prepared by research agency Ipsos at the end of last year.
"The higher increase in investment literacy in the Czech Republic compared to Slovakia may also stem from the fact that the Czech Republic reported slightly higher inflation than Slovakia in the past year, so how to protect one's savings was a slightly stronger topic in the Czech Republic. Inflation in the Czech Republic reached according to Eurostat's harmonised index, almost 15 percent, while in Slovakia, according to the same indicator, roughly 12 percent," said economist Lukáš Kovanda.
The investment literacy of young Slovaks deteriorated, their results don't even reach the level of the entire population's average. The 27-35 year-old generation and people in the 45+ age group improved, the survey showed. Women are getting better at it and men are getting worse, but they're still ahead. In Slovakia, the investment literacy of men decreased year-on-year by less than one percent, while it went up by 2.6 percent among women, said the investment platform. Despite this, men’s results are still 26.2 points better.
Slovaks are improving in the area of investments but only very slightly. Their investment literacy increased by 0.6 percent year-on-year, in the neighbouring Czech Republic the increase was much higher, namely 5.5 percent. Despite this, Slovaks believe themselves in investing significantly more than Czechs, only 15 percent of respondents in Slovakia consider themselves completely inexperienced, but in the Czech Republic it's about a third, stated the company.
Source: TASR
