December 9, Financial News — With steady income growth across major economies, the Asia-Pacific premium consumption market continues to expand, showcasing diversified and multi-tiered development trends. Visa's latest Asia-Pacific Consumer Insights report highlights China's pivotal role as a growth engine, with its premium consumption demand steadily unlocking.

**China Emerges as Key Driver of Asia-Pacific Premium Consumption** The report projects China will remain one of the region's most critical premium consumption markets over the next five years. By 2030, China's premium market is expected to reach approximately $108 billion, maintaining regional leadership. Meanwhile, mature markets like Singapore show stabilized growth, while emerging economies such as India, Indonesia, and Thailand sustain faster expansion—signaling a more balanced and diverse regional landscape.

**New Affluent and "Aspirational" Consumers Fuel Growth** Visa's analysis identifies rising affluent demographics and "aspirational" consumers—highly influenced by cultural factors and exhibiting strong spending elasticity—as key drivers of premium market growth. Brands are increasingly targeting these upwardly mobile, premium-curious groups by offering accessible entry-level luxury products and services to cultivate early loyalty. In China, growing disposable incomes correlate with robust willingness to purchase premium goods, reflecting resilient consumption elasticity.

**Shift in Outbound Travel Preferences: Experience-Led Spending Gains Traction** Compared to other Asia-Pacific markets, Chinese consumers display distinct "experience-oriented" traits in premium spending. Visa's research reveals a marked shift in outbound tourism expenditures—from shopping dominance toward cultural experiences, sports events, and leisure activities. This trend underscores heightened demand for elevated lifestyles and creates opportunities for brands to innovate around immersive experiences.

**Data-Driven Localization as a Competitive Edge** The report emphasizes that cultural nuances and income elasticity will reshape consumer behavior as the premium market expands. Growth trajectories will diverge: emerging economies will rely on "aspirational" cohorts for scale, while mature markets must differentiate through premiumization and experiential upgrades. Brands that combine entry-level luxury offerings with localized experiences and cross-sector collaborations stand to build loyalty. In an increasingly competitive environment, data-driven customization will be critical to capturing the next wave of premium consumption.