Disposable incomes rise in Singapore

Despite seeing an increase in disposable income, Brits intend to cope with the economic slowdown by making fewer foreign exchange transactions to purchase luxury items, according to industry experts.

Recent research by HSBC reveals that expats living in the area are set to spend less as the global recession continues.

The study investigated how expats intend to deal with the credit crisis, with 44 per cent of Britons considering returning to the UK.

However, many emigrants stated that they were likely to cut their spending and complete less foreign exchange transactions for high-end goods.

Despite the economic squeeze, the research showed that nearly half of expats have a disposable income of $4,000 (2,418), which is bolstered by a decline in rental prices.

Sebastian Arcuri, the bank's head of personal financial services, said: "Our expat clients have told us that reductions in rent over the last nine months have increased their disposable income."

"Due to the uncertain economic times, most of them are opting not to spend this increase in their income."

Elsewhere, international resource thetravelmagazine.net recently stated that the US is continuing to see Britons making foreign exchange transactions in the country.

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By Linsey Summers