While Asians say they are planning on being
more careful with their money, they will still spend on luxuries such as
gadgets, cars, and hotels, revealed a poll.
This is
despite the fact that consumers in Asia have been grappling with news of an
impending global economic crisis, showed the research which polled a total of
5,952 people from China, Hong Kong, India, Singapore, Indonesia and Malaysia.
As many
as 72 per cent of respondents said they were paying the same or more for a
luxury car, while 62 per cent were paying the same or more for luxury watches
and jewellery.
In
addition, almost 20 per cent of respondents indicated they were actually
planning on upgrading the class of their hotel on their vacation this year.
Among
the Singapore respondents surveyed, trinkets such as watches and jewellery was
the category for which the largest proportion of respondents said they would
cut spending this year. They also planned to cut spending on luxury cars.
In
contrast, holiday destinations and gadgets were two categories where the least number
of respondents were planning to cut spending.
"Asia
is one of the fastest growing regions in the world today, and there has been an
increase in the number of affluent consumers in the region. This segment of
consumers is extremely important as their spending is, for the most part,
recession-proof.
"Companies
that are seeking continued and sustainable growth cannot ignore this region or
this consumer segment," said Amrita Banta, managing partner at Agility
Research & Strategy.
AsiaOne
Business & Investment Opportunities
YourVietnamExpert is a division of Saigon Business Corporation Pte Ltd, Incorporated in Singapore since 1994. As Your Business Companion, we propose a range of services in Strategy, Investment and Management, focusing Healthcare and Life Science with expertise in ASEAN. We also propose Higher Education, as a bridge between educational structures and industries, by supporting international programmes. Many thanks for visiting www.yourvietnamexpert.com and/or contacting us at contact@yourvietnamexpert.com
No comments:
Post a Comment