It is expected that consumer spending in the coming days will witness a strong revival. It is also expected that retail sales in Singapore and various places including China, Hong Kong, India, Indonesia, Korea and Malaysia will see strong growth in the coming months.

The latest MasterCard Worldwide Index of Consumer Spending Capability has revealed that consumer spending in Singapore has increased by 9.4 points to reach 65.3 points.

Most of the people in Singapore will continue to keep spending and almost 70% of the customers are willing to spend on eating out in the coming six months. Almost 52% are willing to spend money on electronic items and 48% on Fashion and Accessories. Earlier surveys have also provided similar results.          

Almost 60% of the people in Singapore are also planning to continue optional spending and 16% of the people also confirmed that they will be spending more in the coming days.    

Experts are very happy with the results of the survey. The retail sector in Singapore is also expected to grow at a healthy rate this year.    

All the 14 markets which were surveyed have revealed positive results and this is much better than the last year’s results.  

Experts feel that Asia will be able to grow at a faster rate compared to other countries and the global volatility will also not have much of an impact on Asian economy.