Singaporeans cutting on lifestyle expenses: survey

 
 
Agence France Presse
October 7, 2001
SINGAPORE


SINGAPOREANS are cutting down on visits to high-end restaurants, fashion boutiques and shopping centres as they cope with the worsening economy, with numbers reaching 10-year lows, according to a survey released October 2.

Market researchers AC Nielsen said the number of Singaporeans who visited a Chinese restaurant in the past week fell by two percentage points from last year to 12 percent of the population -- the lowest since 1991.

Only 17 percent dropped by a fashion boutique, a low not seen since 1996.

The number of people who visited posh shopping centres in the city was at a five year low of 24 percent, AC Nielsen said without giving comparative figures.

"Singaporeans are cutting down on visits to Chinese restaurants, fashion boutiques and city shopping centres," AC Nielsen said.

In contrast, more Singaporeans were choosing cheaper alternatives, with the number of people visiting suburban shops rising by one percentage point from last year, it said.

Singapore's trade-dependent economy is projected to post negative growth this year, from a robust 9.9 percent growth last year, after falling into recession in June due to declining exports and a global crunch in the electronics sector.

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