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Top-earning consumers in Singapore, Taiwan and Hong Kong appear more likely to reduce spending as the economy worsens than will their counterparts in other Asia-Pacific countries, suggest survey data from Visa Inc. The card company based its findings on interviews with 4,106 consumers in those areas plus Australia, China, India, Japan and South Korea. The consumers are in the top 20% to 40% of household earners in their countries, Visa says in a statement. High-earning Australia consumers are least likely to change their spending habits during the deepening recession, the survey results suggest. In Hong Kong, survey respondents expect to cut back most on entertainment, luxury goods and restaurants, Visa says.
