Knowledge Hub

Emerging Asia Middle-Class Consumer Survey

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2025 Key Highlights

In 2025, our survey explores the middle-class consumers’ economic sentiment, their perceived protection gaps and impact of climate change on daily life and work. We also explored health and critical illness insurance for consumers with pre-existing medical conditions and SME owners’ views on cyber risk. The study covered over 8,000 middle-class consumers from China, India, Indonesia, Malaysia, the Philippines, Thailand, and Vietnam.

Optimism and insurance

68%

Percentage of respondents who are optimistic about economic improvement and looking to boost their insurance spending in the next 12 months.

Covering protection gaps

40%

Percentage of respondents who see insurance as the key source for covering protection gaps across Health, Retirement, Mortality and Property risks. Reliance on insurance for cyber protection is lower.

Climate change

43%

Percentage of middle-class respondents who expect climate change to significantly impact their life over the next three years.

Pre-existing medical conditions

54%

Respondents with pre-existing medical conditions cite medical expenses and long-term care costs as their top worry.

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Climate Change

Climate change is an increasing concern in Emerging Asia with a view that it can be an existential threat.

Key observations

Extreme weather events expected to increasingly impact daily life

Extreme weather events are a concern for the middle-class consumers in Emerging Asia. 43% of the respondents expect climate change to significantly impact their life over the next three years, while this percentage increases by ten points to 53% over the next ten years. Yet, consumers perceive their property protection gap as low, at 35%.

Floods and heatwaves are the two weather events with most impact

Floods and heatwaves are the most cited extreme weather events impacting daily life in Emerging Asia. In terms of the key impacts felt from extreme weather, significant health impacts (41%), disruption to daily commute (37%), disruption to work and income (33%), and property damage (32%) were the most commonly experienced consequences.

Changes in behaviour due to climate change

56% of the surveyed individuals believe they are crucial contributors to climate action - second only to governments. Consumers reported taking climate actions such as reducing energy consumption, making sustainable product choices and changing transportation habits.

Key findings on Climate Change

Climate impact