Staff Reporters
Nov 27, 2019

HK's big spenders are not optimistic, and Singaporeans agree

TOP OF THE CHARTS: Spending on many luxury categories is down at least 20% over the last three months in both cities, according to the 'Affluent Asia' research from Ipsos.

(Shutterstock)

Affluent consumers in both Hong Kong and Singapore are feeling less than optimistic about the economy and are curtailing their spending sharply, according to new research from Ipsos.

The research firm' 'Affluent Asia' research has found that spending on most luxury categories has dropped sharply compared to three months ago.


Hong Kong’s affluent citizens are also quite pessimistic about the evolution of their personal financial situation,...

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