Survey: Asians start spending on luxury goods again

05/18/2010 | Reuters

The MasterCard Worldwide Index of Consumer Confidence showed that confidence in the Asia-Pacific region is improving and the more affluent consumers there are starting to spend on luxury goods. "While consumers in this region were amongst the first to cut back drastically on discretionary spending 18 months ago, they now seem confident and ready to significantly increase their discretionary expenditures ... thereby contributing to the momentum of recovery," said Yuwa Hedrick-Wong, MasterCard Worldwide's economic adviser for the Asia/Pacific.

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