During 2021, many news stories raised questions about various business practices. Nonetheless, now, people trust business more than government. Interesting, right?
In May, we discussed The Most Trusted Brands for 2021.
2021 Edelman Barometer: People Trust Business More Than Government
Each year, Edelman produces a trust barometer. Its recent survey in 28 countries queried 33,000+ respondents. For the 2021 edition, Edelman notes that:
After a year of unprecedented disaster and turbulence, the global outcry over systemic racism, and political instability. The 2021 Edelman Trust Barometer reveals an epidemic of misinformation. And widespread mistrust of societal institutions and leaders around the world. Add to this a failing trust ecosystem unable to confront the rampant infodemic. Leaving four institutions — business, government, NGOs, and media — in information bankruptcy. With a mandate to rebuild trust and chart a new path forward.
This is evident in the drop in trust in the two largest economies. Namely, the U.S. and China. The U.S. (40 percent) and Chinese (30 percent) governments are distrusted by respondents from the 26 other markets. And most notable is the drop in trust among their own citizens. With the U.S., already in the bottom quartile, experiencing an additional 5-point drop since its presidential election. And China saw an 18-point drop since May 2020.
Government briefly seized the high ground. Emerging as the most trusted institution in May 2020., When people entrusted it with leading the fight against Covid-19. And restoring economic health. But government failed the test and squandered that trust bubble.
Access the full report here. Below, find select data.