lol it's because (average) indians don't have too much disposable money so they need it for food
I thought there must be a solid reason. Is food expensive in India or are the earnings that low that they are expensive for the average family? Do you know what the average family size in is India? Ie Husband Wife dependents.
Looks like Chinese people really do save a lot.
WTF are Brazilians spending their money on? Drugs?
perhaps an answer lies in perception of property as an asset. property purchase intentions are higher here than for other countries and have increased over the year. Moreover, 73% of respondents expect house prices to rise – higher than any of the BRIC countries. Coupled with a history of high inflation, real assets perhaps command more of a structural attraction.
Chinese Money Habits - How My Culture Influences My Attitudes Toward Money | Wise Bread3. Pay for things in cash - Credit cards are still fairly rare in China and most people pay for everything in cash. What really impressed me is that many ordinary Chinese people were able to pay cash for their homes when the government allowed homeownership recently. The houses are not cheap, and it is amazing to see teachers and factory workers pull out savings equivalent to ten to twenty times of their regular salaries. Chinese people are wary of debt, and I think that is a good thing.