2010 Edelman Trust Barometer sees modest growth in business trust

January 27, 2010

Global trust in business is up modestly but the rebound is fueled by a spike in a handful of Western countries, especially the United States where it jumped 18 points to 54 percent, according to the 2010 Edelman Trust Barometer.

Trust in business remains high in three of the four BRIC countries, with Brazil, India, and China above 60 percent. The overall rise is tenuous, however, with nearly 70 percent saying business and financial companies will revert to “business as usual”  after the recession. Trust in banks declined dramatically in most Western countries, plummeting 39 points (68 to 29 percent) in the United States and 20 points (41 to 21 percent) in the U.K. from 2007-2010.

For the first time, this year’s survey shows that trust and transparency are as important to corporate reputation as the quality of products and services. In the U.S. and in much of Western Europe, those two attributes rank higher than product quality — and far outrank financial returns, which sits at or near the bottom of 10 criteria in all regions.

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