Fourth-Fastest Growth Rate in Asia Pacific

Recently, Visa International released the global Commercial Consumption Expenditure (CCE) measurement for 2006, showing that business and government spending in the Asia Pacific region grew seven per cent from 2005.

 

Vietnam experienced the fourth-fastest growth rate in Asia Pacific in 2006. Vietnam’s total CCE in 2006 was US$78.1 billion, 16 per cent higher than in 2005. The top five regional growth rates in 2006 were Indonesia (25 per cent), the Philippines (18 per cent), Sri Lanka (17 per cent), Vietnam (16 per cent) and Thailand (16 per cent).

 

The top five Asia Pacific markets, in size of total spending, were Japan (US$5.3 trillion), China (US$4.2 trillion), India (US$1.9 trillion), South Korea (US$1.9 trillion) and Australia (US$1.1 trillion).