Southeast Asian consumers remain the most optimistic in the world, even though levels in some markets have dipped from previous highs, Nielsen’s Consumer Confidence Index for the second quarter of 2015 shows.

The Philippines, Indonesia, Thailand and Vietnam have maintained their top 10 ranking as the most optimistic consumers globally.

However, the Philippines was the only market where consumer sentiment increased, ending the quarter at the highest levels on record. Nielsen says the continued influx of foreign investments and a robust domestic consumption base is driving optimism in the Philippines.

Vietnam and Malaysia both dropped.

Nielsen says Vietnam’s optimism is being dampened by declining foreign direct investment and “a struggling retail environment”.

The index measures 30,000 respondents with internet access in 60 countries.

Southeast Asian consumers continue to cite the economy as a top concern in the coming months, Nielsen reports, particularly those in Thailand, Malaysia, and Indonesia.

As general cost of living continues to increase across the region, the majority of consumers have adjusted their spending, cutting back on new clothing, out-of-home entertainment and technology upgrades.

An increasing number, however, splurge on holidays – Singaporeans (49%), Thais (45%), Indonesians (45%) and Malaysians (40%).

Still, the region’s consumers continue to be among the world’s most conscientious savers, with Vietnam ranking as the top savers globally, followed by the Philippines and Indonesia in second and third.

In addition to saving, Nielsen says Southeast Asian consumers are also planning for their financial futures by investing, doing so with increasingly diversified strategies.

This article first appeared in ContentAsia Issue 3, 2015, published in August 2015