Business Services Industry
SARS Cuts into Asian Consumer Spending.
Knight Ridder/Tribune Business News, June, 2003
Bangkok Post, Thailand Knight Ridder/Tribune Business News
Jun. 28--Asian consumers in both SARS-affected and SARS-free countries have substantially reduced their spending on luxury goods such as cosmetics, alcohol and big-ticket items but that is where the similarities end, according to a survey on the effects of the deadly virus on consumer behaviour.
Research International says there was a gloomy consumer outlook in SARS-affected Singapore, Taiwan, Hong Kong and China, while for SARS-clear Thailand, consumers see a positive upturn.
The majority of Thai consumers surveyed between June 12 and 16 expressed optimism of a pickup in the domestic economy, hurt in part by plummeting tourism arrivals -- a significant source of government...
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