Consumption of business-related technology such as computers, laptops, scanners and mobile phones has barely budged over the past year, but the data shows that when high-fliers clock off for the day, they're heading for the shops again and treating themselves to expensive gadgets and accessories.
The latest survey results cover the 12 months to Q3 this year, and represent a total sample size of just under 13 million people around the region.
Almost 11.9 million are classed as affluent adults, about 3.4 million are business decision makers, and 676,000 are in top management positions.
About 22 per cent of people surveyed own a luxury watch that cost at least US$500, up from 20.8 per cent at the same time last year, and almost 29 per cent now have luxury leather goods or designer accessories in their wardrobe, compared with only 25 per cent in late 2002.
The proportion of big-spenders who own a DVD player has shot up to almost 45 per cent from 36 per cent at the end of last year, while 36 per cent now have a digital stills camera. Digital video cameras have also climbed in popularity and while mini-disc players appear to be falling out of favour, MP3 players are on the up, owned by 22.3 per cent of those surveyed.
"Budgets are still tight for businesses, yet consumers are prepared to spend. It's out of step," says Synovate media director Steve Garton.
"People's mindsets are a little different at the moment. They've come out of a period of siege, with Sars and the economic downturn, there are new offerings, and they may experiment with a brand they've perhaps not used before.
"Some companies will see that there are markets to be grasped and the wiser ones will be those who have flexible budgets that allow them to grasp those opportunities. This is a unique time and timid marketers who don't react quickly to an expanding marketplace will lose out."
The elite group surveyed for PAX are not just tooling themselves up to be better entertained; they're also spending more time in the public eye.
More than 16 per cent of top managers surveyed said they had been interviewed on television, radio or in the press in the past year - up from about 10 per cent a year ago - and almost five per cent have had a paper published within the last 12 months, nearly double the number who had done so in 2002.
The number of big-spenders making at least one business trip in the past 12 months fell slightly, to 14.6 per cent in the latest survey period from 16.7 per cent in the Q3 2002 survey. Holiday travel was unchanged.
Where they went for their business trips changed significantly, however, with more trips taken to Australia, Europe and the US, but travel within the region slipped 10 per cent from the end of last year to the current period.
Hardest-hit were the Sars-affected countries, with the number of top managers going to China on business down from almost 16 per cent in late 2002 to 10.6 per cent now. Hong Kong was down from 6.9 per cent to 5.7 per cent, and the number of Asian businessmen going to Singapore fell 5.8 per cent.
While the region's rich are spending again, they are still planning for the next cluster of economic rainy days. Unit trusts, or mutual funds, have slipped in popularity, attracting only 15 per cent of those surveyed, down from 20 per cent a year ago, but about the same number of people are investing in foreign currencies and have life insurance policies.
More than 18 per cent now have privilege or priority banking, up from about 16 per cent in 2002.
The number of people owning their own home has dipped slightly, from 56 per cent a year ago to 53 per cent now, although slightly more now own another property for investment.
PAX differs from the ATMS survey (Media, November 28) conducted by rival researchers Nielsen Media Research in methodology and that it is conducted quarterly on a rolling basis.
Garton says the latest PAX information shows that the region's gradual economic recovery is robust, and that the markets hardest-hit by Sars are finding their feet quicker than might have been expected.
"If nothing else appalling happens, like another Sars or North Korea lets off a bomb, it feels like we have a good foundation for next year," he says.
"I think we're in for a significant recovery and a very solid, consumer-driven chance for brands to make their point to the consumer about why they ought to be bought."
The 11 markets covered in the PAX survey are: Bangkok, Hong Kong, Jakarta, Kuala Lumpur, Singapore, Manila, Taipei, Seoul and the main markets of India, plus Tokyo and Sydney.
Trends emanating from Japan have a significant impact on overall results for the region, as Tokyo contributes more than one-third of the total sample.
BUSINESS ACTIVITIES (%)
Q3 2002 to Q3 2002 to Q4 2002 to
Q1 2003 Q2 2003 Q3 2003
Formulated Strategic Business Plan 36.7 38.1 41.3
Addressed Conference/Public Meeting 18.6 19.6 21.3
Sat on Industrial/Professional 18.1 18.4 18.7
Committee Been Interviewed on
TV/Radio/Press 15.0 13.5 16.2
Worked on International Business 13.1 14.0 14.8
Strategies Source: Synovate
PRODUCTS & SERVICES (%)
Q3 2002 to Q3 2002 to Q4 2002 to
TRAVEL Q1 2003 Q2 2003 Q3 2003
1+ business trips in the past 12 months 15.4 15.4 14.6
1+ leisure trips in the past 12 months 27.8 26.5 26.4
CAR OWNERSHIP
Private car in household 68.9 66.8 66.8
MADE INVESTMENTS
Stocks/Securities/Bonds 29.5 28.9 27.2
Foreign currencies as an investment 10.1 9.8 9.7
Source: Synovate.