Affluent Singaporeans place more priority on having time to keep fit and achieving greater work-life balance than having more money to buy more luxury goods. This is according to a survey conducted by market research company TNS Singapore.
The Visa Affluent Study 2013, which was released on Tuesday, looked at spending habits, priorities in life and the perception of luxury among the well-off in different countries.
Some 81 per cent of the 500 consumers surveyed in Singapore associated luxury with having spare time to do what they wanted, compared to a regional average of 75 per cent. In comparison, 54 per cent said that luxury to them meant owning the best brands.
A total of 4,846 consumers were polled between November last year and January this year, in 10 countries including Australia, China, and Russia. Those surveyed were credit card holders between the ages of 18 to 55 and in the top 20 per cent of each country's income distribution range.