China’s decade of sweeping economic change
Chinese authorities remained dedicated to their long-term plan by shifting away from exports and toward domestic consumption.
Consumerism in Southeast Asia
ASEAN’s consumerism culture can be attributed to its per-capita GDP which is expected to rise threefold from about US$3,000 in 2010 to more than US$9,000 in 2030.
Living like a king
ASEAN’s economic growth ties in with the dream of luxury living because an increase in disposable income has allowed some room for people to spend more.
F&B industry fuelled by middle class
F&B businesses are leveraging on the fact that more people in the region are now open to the idea of eating out.