Friday, January 23, 2009

Spending priorities

The New York Times reports: [edited]

When you have some extra cash padding your wallet, do you reach for the latest jeans or the sleekest new music player? Much of that decision, it seems, depends on where you live.

If you live in Greece, Italy or Egypt, you'll probably choose textiles over technology. Greeks spend almost 13 times more money on clothing as they do on electronics.

"Italians and other Europeans love fashion; the greatest designs in the world come from those regions," said Todd D. Slater, a retail analyst for Lazard Capital Markets in New York.

If you live in Australia or Taiwan, you might be more tempted by a new laptop computer or flat-screen television. Australians spend only 1.4 times more cash on clothes than they do on consumer electronics.


Antony Billington said...

And books... what about books? Where do books figure?

brett jordan said...

It's OK Antony, it was assumed that books took up 75% of most (normal) people's income, so they just factored in everything that people spent AFTER that...