Visa Survey: Hong Kong’s Affluent Opt for Fine Cuisine whatever their mood
03/11/2015
The Visa Explore mobile application provides unmatched year-round culinary offers including "One for One" dining
The results of the 2015 Visa Affluent Survey1 (“Survey”) designed to solicit insights on the needs and preferences of Hong Kong's affluent, reveal that four out of five respondents (84 percent) set aside a monthly average of HK$6,600 for discretionary spending. These funds are driven largely by a night out (89 percent), family holidays (79 percent) and dinner at fine dining restaurant (77 percent), with around 40 percent of respondents indicating that they plan to spend more on discretionary items in the next 12 months.
In addition, Visa recently commissioned ESDlife to conduct an online survey2 to track the spending attitudes of Hong Kong's affluent with a particular focus on fine dining. The findings of the "Hong Kong Consumer Spending Pattern on Dining" survey ranked "dine out with family/friends" as the top choice regardless of whether the respondents were in a good (66 percent) or bad mood (52 percent). Over half of the respondents (62 percent) said they go for fine dining3 on an average of one to three times per month, with nearly 20 percent indicating that they frequent fine restaurants at least four times per month. The vast majority of respondents (80 percent) said that they tend to frequent these restaurants with their significant others (wife/ husband/ boyfriend/ girlfriend). As for the total costs, 50 percent of respondents spend at least HK$1,000 per month, of which 12 percent of them spending over HK$4,000.
Tom Tobin, Country Manager of Visa Hong Kong and Macau, said: "Whatever your mood, Visa can help cater to your discriminating taste by partnering with leading restaurants and hotels in Hong Kong and Macau. We are very proud of the wide range of culinary offers, especially our attractive "One for One" dining offers we are providing to our Visa Infinite and Visa Signature cardholders."
From Chinese and Japanese to French and beyond, Visa’s ever-expanding list of its dining privileges at over 30 dining outlets, totaling 43 dining offers for Visa Infinite and Visa Signature cardholders in Hong Kong and Macau. While over half of the dining offers are "One for One" dining, some of the dining offers can be used in conjunction with additional discounts.
What's more, to provide Visa cardholders with greater convenience to check on the latest Visa offers on-the-go, all the premium dining offers are available on the Visa Explore mobile app. This new mobile app obtains Visa offers and promotions overseas and locally - from travel deals, to dining, entertainment, shopping and other lifestyle-privileges - personalized to cardholders' interests. The Visa Explore mobile app is available for download on Apple App Store and Google Play.
Terms and conditions apply. Offers are valid for the eligible Visa cards issued in Hong Kong and Macau. Visa and/or participating merchants may modify or vary offers and discounts at any time without prior notice.
For more details, please visit:
www.visa.com.hk/platinum
www.visa.com.hk/signature
www.visa.com.hk/infinite
1 The Visa Affluent Study 2015 was conducted between November and December 2014 by TNS Singapore on behalf of Visa. The Hong Kong component of the survey studied 501 credit card holders aged between 18 and 55, who have household income of HK$480,000 or above.
2 An online survey on Hong Kong Consumer Spending Pattern on Dining was conducted in January 2015 by ESDlife on behalf of Visa. A total of 815 credit card holders with an average monthly income of HK$25,000 were successfully surveyed.
3 Definition of 'fine dining' of the Report: HK$350 or above per pax for lunch and HK$900 or above per pax for dinner.
About Visa
Visa is a global payments technology company that connects consumers, businesses, financial institutions, and governments in more than 200 countries and territories to fast, secure and reliable electronic payments. We operate one of the world's most advanced processing networks — VisaNet — that is capable of handling more than 56,000 transaction messages a second, with fraud protection for consumers and assured payment for merchants. Visa is not a bank and does not issue cards, extend credit or set rates and fees for consumers. Visa's innovations, however, enable its financial institution customers to offer consumers more choices: pay now with debit, pay ahead of time with prepaid or pay later with credit products. For more information, visit www.visa-asia.com and @VisaNews.