Developing Countries Outpace Developed for Business Trust

Trust in business is particularly high in India, with 82 percent of adults saying that they had trust in the institution during a survey in 2023. This is according to the latest edition of the Edelman Trust Barometer Global Report, conducted each year to capture a snapshot of sentiments towards government, business, NGOs and media around the world.

Yet where Indians themselves self-report high levels of trust in business, the picture is less rosy from those abroad of companies headquartered in the South Asian nation. Of 27 countries surveyed (excluding India), only 35 percent of respondents reported having trust in companies with head offices based there. Other countries distrusted by the international community included China (35 percent trust across the 27 countries), Saudi Arabia (36 percent) and South Korea (49 percent).

As this chart shows, developed countries or high income countries exhibited lower levels of trust in business. For example, in South Korea and the United Kingdom, only 45 percent and 48 percent, respectively, said they had trust in business. By contrast, developing countries or nations in lower income brackets, reported higher levels of trust in business as an institution.