Tuesday, December 21, 2010

China and India to see ‘substantial’ mall growth by 2013, says report

TWO of Asia’s economic behemoths, China and India, are expected to see a substantial increase in shopping centre supply over the next two to three years, riding on the back of improving retail sales and returning consumer confidence, a new report by global property consultant Jones Lang LaSalle said in September this year.

According to the company’s Global Market Perspective September 2010 report, consumer spending in the Asia-Pacific region remains strong, “underpinned by employment growth not only in emerging markets, but also in mature economies such as Australia, Singapore and Hong Kong”. 

Citing a recent survey by UKbased market research group, Ipsos MORI, which revealed marked changes in consumer confidence across 24 countries globally, the report noted that a “high level of optimism” was identified in the BRIC (Brazil, Russia, India and China) economies, “where a combination of cyclical and structural factors are boosting consumer activity”. 

Read more here.