Where does your discretionary income go?? (photo source: New York Times)
In Sunday's New York Times, there is a fascinating pictographical look at how people in countries around the world spend their discretionary income. I'd be curious to see this in per-capita expenditure; and more interested in seeing something like this with regard to the BoP (Bottom of the Pyramid). Still there is enough information in there to make it truly worth some pondering.
- In Saudi Arabia, people spend about $1.2 B every year on alcohol and tobacco. This is fascinating considering that Saudi Arabia houses the birthplace of Islam and is home to the two most sacred shrines in Islam - Mecca and Medina; and Islam shuns alcohol. Maybe all the money is going to tobacco.
- Greeks spend 13 times more on clothing than on electronics.
- The Japanese spend more on alcohol and tobacco than any of the European countries (Germany included...that was a bit of a shock!)
- Indians spend several times more on alcohol and tobacco than they do on electronics. I expected differently from a country of technophiles.
- Americans spend almost four times as much on recreation than on alcohol and tobacco. That was fascinating!