M'sians in Asia's top-10 spenders
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Malaysia was ranked 10th among Asia-Pacific countries in terms of retail spending last year, according to Visa's annual global Commercial Consumption Expenditure (CCE) Index.
Malaysia recorded a total of US$404 billion (Bt12.39 trillion) in retail spending for 2011, an increase of 24 per cent from 2010.
In a statement, Visa country manager for Malaysia Stuart Tomlinson said: “There was a significant increase in Malaysia’s estimated growth in retail spending for last year, with a 20-per-cent increase year-on-year, surpassing many other Asia-Pacific countries.”
The Index noted Asia-Pacific recorded the largest share of global CCE spending, followed by Europe, the United States, Central/Eastern Europe, the Middle East and Africa, Latin America/Caribbean, and Canada.
The top-five Asia-Pacific markets in terms of total spending were China ($12.3 trillion), Japan ($11.7 trillion), India ($3.9 trillion), South Korea ($2.8 trillion) and Australia ($2 trillion).
