Market research firm, Mintel revealed this week that investors in both the Republic of Ireland and Northern Ireland are moving away from traditional savings accounts, and towards more diversified investment portfolios.
Explaining that increasing deregulation of the Irish market coupled with greater knowledge of the investing process has meant that Irish consumers are less afraid to take risks, Mintel revealed that savings and investments account for approximately 10% of weekly household income in Northern Ireland, and 7% in the Republic.
Speaking to the Irish Independent on Tuesday, Financial Consultant, Alison Surgeoner explained that: 'A plausible explanation for this disparity is the economic boom in RoI that has led to higher house prices and more expensive living costs in general, relegating saving further down the priority scale.'
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