Flush Asians splash out on luxuries

Flush Asians splash out on luxuries
May 24, 2010 21:52
guestJeff Chang	Resource:http://www.chinadaily.com.cn/entertainment/2010-05/19/content_9866594.htm Things are looking up in the Asia Pacific, a new survey shows, with most consumers saying they're confident about their jobs and the economy in the next six months, which is encouraging them to spend on luxury items. The MasterCard Worldwide Index of Consumer Confidence for the region was higher in eight of the 14 markets surveyed as robust economic growth ignited a sense of optimism. "The Asia/Pacific region rebounded in economic growth as early as the second half of last year, and regional recovery has continued to gain traction this year," said Yuwa Hedrick-Wong, MasterCard Worldwide's economic adviser for the Asia/Pacific. Leading the uptrend were China, Vietnam and Singapore, which showed the highest levels of consumer confidence in the region. Singapore and the Philippines were the most confident their incomes would increase within the next six months and even pessimism levels in Japan, which is struggling to shake off an economic recession, were declining. also found that younger respondents, aged below 30, were more optimistic than their older counterparts.

May 24, 2010 21:52

guestJeff Chang

Resource:http://www.chinadaily.com.cn/entertainment/2010-05/19/content_9866594.htm

Things are looking up in the Asia Pacific, a new survey shows, with most consumers saying they're confident about their jobs and the economy in the next six months, which is encouraging them to spend on luxury items.
The MasterCard Worldwide Index of Consumer Confidence for the region was higher in eight of the 14 markets surveyed as robust economic growth ignited a sense of optimism.
"The Asia/Pacific region rebounded in economic growth as early as the second half of last year, and regional recovery has continued to gain traction this year," said Yuwa Hedrick-Wong, MasterCard Worldwide's economic adviser for the Asia/Pacific.
Leading the uptrend were China, Vietnam and Singapore, which showed the highest levels of consumer confidence in the region.
Singapore and the Philippines were the most confident their incomes would increase within the next six months and even pessimism levels in Japan, which is struggling to shake off an economic recession, were declining.
also found that younger respondents, aged below 30, were more optimistic than their older counterparts.

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