Originally Posted by Fuuma
People from the gulf on vacation spend in KL not HK.
Also, if you note the 'target audience' of CdL, Julien De Luca stated that '[t]he target is not to make suits here. At the moment, we have 20 clients in Southeast Asia and Hong Kong, but we project our main business to be in Asia'.
If Gulf clients were whom they were targeting, they should have just had a satellite outfit in one of the Gulf States.
It seems that the target is the Asia market, and that their existing clients hail from SEA.
Some statistics (courtesy of Wikipedia)
Kuala LumpurWarning: Spoiler! (Click to show)
The average monthly household income for Kuala Lumpur was RM4,105 (USD 1,324) in 1999, up from RM3,371 (USD 1,087) four years prior, making it 66% higher than the national average. In terms of household income distribution, 23.5% of households in the city earned more than RM5,000 (USD 1,613) per month compared to 9.8% for the entire country, while 8.1% earned less than RM1,000 (USD 323) a month.
The large service sector is evident in the number of local and foreign banks and insurance companies operating in the city. Kuala Lumpur is poised to become the global Islamic Financing hub with an increasing number of financial institutions providing Islamic Financing and the strong presence of Gulf's financial institutions such as the world's largest Islamic bank, Al-Rajhi Bank and Kuwait Finance House. Apart from that, the Dow Jones & Company is keen to work with Bursa Malaysia to set up Islamic Exchange Trade Funds (ETFs), which would help raise Malaysia's profile in the Gulf. The city has a large number of foreign corporations and is also host to many multi national companies’ regional offices or support centres, particularly for finance and accounting, and information technology functions. Most of the countries’ largest companies have their headquarters based here and as of December 2007 and excluding Petronas, there are 14 companies that are listed in Forbes 2000 based in Kuala Lumpur.
SingaporeWarning: Spoiler! (Click to show)
Singapore has the world's highest percentage of millionaires, with one out of every six households having at least one million US dollars in disposable wealth. This excludes property, businesses, and luxury goods, which if included would further increase the number of millionaires, especially as property in Singapore is among the world's most expensive. Despite its relative economic success, Singapore does not have a minimum wage, believing that it would lower its competitiveness. It also has one of the highest income inequality levels among developed countries, coming in just behind Hong Kong and in front of the United States.
Edited by bboysdontcryy - 5/23/13 at 1:28pm
Singapore is the 14th largest exporter and the 15th largest importer in the world. The country has the highest trade-to-GDP ratio in the world at 407.9 percent, signifying the importance of trade to its economy. The country is currently the only Asian country to have AAA credit ratings from all three major credit rating agencies – Standard & Poor's, Moody's, and Fitch. Singapore attracts a large amount of foreign direct investment as a result of its location, corruption-free environment, skilled workforce, low tax rates and advanced infrastructure. There are more than 7,000 multinational corporations from the United States, Japan, and Europe in Singapore. There are also 1,500 companies from China and 1,500 from India. Foreign firms are found in almost all sectors of the economy. Singapore is also the second largest foreign investor in India. Roughly 44 percent of the Singaporean workforce is made up of non-Singaporeans. Over ten free trade agreements have been signed with other countries and regions.
The Singaporean economy depends heavily on exports and refining imported goods, especially in manufacturing, which constituted 27.2% of GDP in 2010 and includes significant electronics, petroleum refining, chemicals, mechanical engineering and biomedical sciences sectors. In 2006 Singapore produced about 10% of the world's foundry wafer output. Despite its small size, Singapore has a diversified economy, a strategy that the government considers vital for growth and stability.
Tourism also forms a large part of the economy, and 10.2 million tourists visited the country in 2007.