Saturday 3 March 2007

CONSUMER MARKETS

ASIA: Growth in Chinese consumption.

In 2006 Credit Suisse conducted a survey amongst 2,700 respondents in 8 Chinese cities.

Further estimates state that Chinese consumption would grow to 8.6% by 2010 to be ranked third after the United States and Japan. The figure is estimated to be 21.8% by 2020 when the United States is estimated at 34.6%.

In 2006 China's consumption accounted for 5.4% of total consumption out of the major economies in 2006, ranking joint fifth with Italy, with the United States at 42%, Japan 11.1%, Germany 7.3% and Britain 6.6%.

Friday 2 March 2007

CONSUMER MARKETS

EUROPE: Latvia is currently a nation of borrowers not savers.

In an interview with Republika.lv magazine Uldis Cerps, head of the Latvian Finance and Market Commission (FKTK), said that Latvia's financial market is primarily based on the banking sector which accounts for more than 96% of the whole financial sector; the insurance market constitutes about 3% while the share of other segments does not exceed 1%.

He states that this state of affairs indicates the low level of domestic savings which is typical of a transitional economy. The Latvian market is dominated by a borrowing rather than an accruing culture fostered by high global liquidity resulting in low interest rates.

Thursday 1 March 2007

CONSUMER MARKETS

EUROPE: Effects of smoking bans.

On 1 July 2007 a smoking ban will be imposed on all public places in England; in Wales the ban will take effect on 2 April 2007. Bingo clubs will be included within the ban.

A ban on smoking has been in place in Scotland since March 2006. The Scotsman newspaper reported in February 2007 that at least 8 bingo clubs had subsequently closed in Scotland and Rank Plc (owners of Mecca Bingo) reported on 2 March 2007 that revenue from its Scottish clubs had fallen 15% since its introduction.

However a survey conducted by Littlewoods Bingo Online (who run online bingo games) discovered that 76% of participants in England agreed that smoking should be banned in bingo clubs.