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Singapore and HK affluent spending less, holding more cash

But Ipsos study finds risk appetite and investment strategies of the affluent in these two cities differ

Published Mon, Nov 18, 2019 · 09:50 PM

Singapore

THE affluent in Singapore and Hong Kong are spending less and holding more cash, although their appetites for risk differ, the Ipsos "Affluent Asia" study has found.

Expenditure on most luxury goods has fallen in Singapore and Hong Kong markets, with spending on quality alcohol, luxury watches, jewellery and designer clothes having dipped at least 20 per cent from three months ago.