Consumers around the region are expecting dining and entertainment to be their top spending priority for the next six months.
Dining and entertainment topped the previous survey in December 2008. The category also took the top spot in 18 of 21 markets surveyed across Asia-Pacific, the Middle East and Africa.
Dining and entertainment topped the previous survey in December 2008. The category also took the top spot in 18 of 21 markets surveyed across Asia-Pacific, the Middle East and Africa.
Dr Yuwa Hedrick-Wong, economic advisor, Asia-Pacific, MasterCard Worldwide, said the global recession “does not appear to have a serious impact on the urban middle class in the region compared with previous recessions.”
He added that “private consumption is holding up well in the region” and “consumer purchasing priorities are very positive for a stronger outlook of domestic consumption going forward, in spite of persistent uncertainty in the global economy.”
China (70 per cent) and Japan (63 per cent) were the two markets from APAC with the highest percentage of consumers planning to maintain their discretionary spending, while India had one of the highest percentages of consumers planning to increase their discretionary spending in the next six months.
Markets surveyed include Australia, China, Hong Kong, India, Indonesia, Japan, Malaysia, New Zealand, the Philippines, South Korea, South Africa, Singapore, Taiwan, Thailand and Vietnam.
Dining and entertainment registered 69 per cent in the survey followed by fashion and accessories (49 per cent), fitness and wellness (36 per cent), consumer electronics and children’s extra-curricular activities/private tuition (both 34 per cent).
