A new report on public trust in institutions shows that the business community continues to gain trust globally as trust in other institutions such as governments and the media continues to decline.
Sixty-two percent of 32,000 respondents in 28 countries said they trust businesses in the latest Edelman Trust Barometer report.
“Businesses are the only institutions that are seen as capable and ethical,” said Edelman CEO Richard Edelman. “Businesses are expected to take action.”
In contrast, the new report shows the government is seen as “immoral and incompetent”. Businesses lead government by 54 points in capability and 30 points in ethics.
In the past year, business trust in the United States has increased by 6 percentage points.
Meanwhile, 59% of respondents believe NGOs are both competent and ethical, compared to 51% for government and 50% for the media.
The study also showed that the number of people who believed they would be better off fell to 40% from 50% last year and hit a record low across 24 countries. That’s because 89 percent fear losing their jobs, 74 percent fear inflation, 76 percent fear climate change, and 72 percent fear nuclear war.
Edelman, a global communications firm, publishes the report annually. This is the 23rd annual Trust Barometer. Conducted by the Edelman Trust Institute, the survey assesses the trustworthiness of various institutions through online interviews with more than 32,000 adults in more than 20 countries.
Find the full report here.