Women a new spending powerhouse

Women a new spending powerhouse

SINGAPORE: Women travellers are expected to emerge as Asia's new spending powerhouse, a survey said on Saturday.

The number of female travellers in the region is forecast to equal their male counterparts by 2011 and exceed them in the long run, according to MasterCard's Asian Lifestyles report.

Covering travellers in 13 Asia-Pacific markets, the survey estimates that US$13.4 billion will be spent by women travelling in six years in four shopping destinations -- Bangkok, Hong Kong, Singapore and Seoul.

Men are likely to spend half that amount based on current trends.

While shopping lists for U.S. and European women consist of momentos, souvenirs and locally produced crafts, Asian women prefer to stock up on branded goods, such as apparel, shoes, handbags, accessories, perfumes and other toiletries, the survey found. -- DPA