Asia's luxury infatuation under pressure during economic woes

AFP, 14 Oct 2008

"Staff at one of Singapore's prime shopping districts said sales of luxury goods had slipped in recent days because of fewer tourists. Customers are buying less and some just browse, they told AFP.

The number of visitors to the city state fell 7.7 percent in August compared to a year earlier.

"We are located in a tourist area and there are fewer tourists now," said one member of the sales staff in a store selling Prada handbags."

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