Trust is shifting away from government and back to business as Australia emerges from the global recession, an international survey has found.
Faith in business rose by four points to 47 per cent in Australia and is increasing across Asia and the Pacific after dwindling in previous years, says the
study by PR firm Edelman.
In contrast, trust in government in Australia was down 15 per cent to 41 per cent, according to the Edelman Trust Barometer. The survey of 4875 high-income earners with tertiary qualifications measured trust in institutions and industry sectors in 22 countries. Just over 1500 of respondents were from the Asia-Pacific region.
Edelman Australia managing director Amanda Little said that a year ago Australians were deeply concerned about the global financial crisis and looked to government to provide the solutions.
"Now that we are out of economic danger, trust is shifting away from government and back to business," Little said.
But non-governmental organisations (NGOs) were still seen as more trustworthy than business, government and the media.
"Sixty-two per cent of Australians are more likely to trust a company that partners with NGOs to battle global issues than a company that works alone, and this is echoed globally," Little said.
The most trusted sector in Australia was once again technology, jumping nine points from last year to 71 per cent, followed by health.
The technology finding was repeated in all the countries surveyed.
Little said this was because of the increased importance technology plays in people's everyday lives, and constant and visible innovations.
The survey found greater trust in all industry sectors in Australia between 2009 and 2010, the only exception being energy, which fell five points to 37 per cent.
"Debate over the emissions trading scheme and the spotlight on emissions in the energy sector may well be the reason for this," Little said.
The credibility of a chief executive officer as a trusted source of information increased 19 points this year to 38 per cent.
The survey found that general profitability and an absence of high-profile business failures in the past12 months might have helped to improve trust in business leaders this year.
"Although signs are encouraging," Little said, "Australian business has a way to go to gain the community's trust."
- AAP
Trust is shifting away from government and back to business as Australia emerges from the global recession, an international survey has found.
Faith in business rose by four points to 47 per cent in Australia and is increasing across Asia and the Pacific after dwindling in previous years, says the
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