In a recent study conducted among 25 Asian cities, Hong Kong has been rated as the top shopping destination, obtaining a total score of 68.5 out of 100. Closely following it were Kuala Lumpur and Shanghai. Singapore, Hong Kong’s arch rival when it comes to being a shopping hub, was positioned at fifth place. The sky-rocketing hotel prices and the costs of living have together succeeded in establishing Hong Kong as a relatively expensive Asian city to live in.

In terms of consumer spending power and the future growth potential of the economy, the Hong Kong luxury market is booming. Hong Kong locals are expected to spend nearly HK $34,055 on luxury goods in the next few months. In a study conducted by the Boston Consulting Group, Hong Kong’s affluent will annually spend a whopping US $3 trillion by 2020. The luxury segment includes travelling, dining, purchasing luxury goods, and availing the best in services. Hong Kong’s riches will account for 5 percent of total global consumption.

Hong Kong’s hotel stay costs are as expensive as the luxury goods. On an average, a room in a four-star hotel costs $200 per night. In data gathered by the Hong Kong Tourism Board, it has been found that tourists who stop by in the city for just one night, have spent more than HK $50.4 billion on shopping expeditions during the first half of 2012. Tourists from the mainland have indicated the strongest spending capacity, but Hong Kong’s tourism industry wishes to diversify its inflow of investment. With the mainland’s economy slowing down, the Hong Kong tourism industry may take a hit.

However, Chinese goods are in great demand all over the world, and, with domestic stimulus measures being implemented, the Chinese economy will avoid a sharp slowdown. Overseas export demands are improving and there is infrastructure investment occurring; this indicates that the Chinese economy will grow between 7 to 8 percent in the coming few years. While China’s economy is being driven towards fueling consumption, the population of Hong Kong’s affluent is set to double. This will help Hong Kong’s total consumption exceed that of Germany’s and become at par with Japan’s.

The boost in population will trigger luxury spending, causing it to leap from US $40 billion to US $190 billion. Hong Kong’s Causeway Bay is already experiencing fast-rising rents that are exceeding those of New York’s Fifth Avenue. With rising rents, the city’s Tsim Sha Tsui and Central districts are becoming the most expensive rental locations in Asia-Pacific.

People are thronging top retail brands from the likes of Gucci to Louis Vuitton. International fashion goliaths are breaking into the Chinese market through Hong Kong.

Hong Kong’s rapid growth in the luxury market segment has pushed New York’s Fifth Avenue from the top spot; a coveted spot that it held for 11 long years.

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BANGKOK, Thailand – Despite the devastating floods that hit Thailand in 2011, forcing a freeze in automotive and computer chip manufacturing critical to the global supply chain, the country’s GDP is expected to reach six percent this year according to the Bank of Thailand.

In fact, the latest Bloomberg Emerging Markets (www.bloomberg.com/news/2012-02-22/thailand-proving-best-after-china-among-global-emerging-markets.html) report ranked Thailand second only to China as one of the most-promising emerging and frontier markets for investors. Thailand was also ranked as the easiest place to do business of all top 15 emerging markets in the study.

Thailand’s government has invested over $11 billion in future flood defenses to protect the country’s infrastructure which plays a significant role in attracting major investments from the world’s most innovative companies, including GE, Ford, Kraft and Pfizer. The Thailand Board of Investment, the government’s investment promotion agency, recently reported that despite flooding, foreign investment applications for Thailand increased by 92 percent year-over-year in the first two months of 2012, to over $5 billion.

“Thailand’s strategic location at the center of Asia is an asset that will only increase as the new industrial economies and their populations’ GDP and purchasing power rise,” said Atchaka Sibunruang, Secretary-General of the Thailand Board of Investment.

“Our country’s world-class infrastructure is comprised of well-developed supply chains for automotive and technology manufacturing and our workforce has a knowledge base in those industries that has advanced for decades. These strong economic fundamentals will continue to solidify Thailand as a leading economic power in the future.”

Thailand’s strengths lie in its position as the largest car manufacturer in Southeast Asia and the producer of around 40 percent of the world’s computer hard disk drives. The country’s vast natural resources have also made it the world’s top producer of rubber, the second largest exporter of sugar and the top rice exporter. These assets, along with quick access to 575 million of Southeast Asia’s consumers, make the country a prime investment location for multinationals in the decades ahead.

With manufacturing expected to fully recover to pre-flood levels by the end of the second quarter, and domestic and export markets on the rebound from the global financial crisis, Thailand’s location at the center of Asia’s rapidly expanding consumer market looks ever more attractive to future investors.

For more information about the Thailand Board of Investment, visit www.thinkasiainvestthailand.com.

Image Courtesy of  Wutthichai / Shutterstock.com

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The Sunburnt Calf BK, located in Prospect Heights, is the newest addition to the group of Australian inspired restaurants in New York City. With its unique perspective on joining the tastes of the nation down under with the exotic flavors of South East Asia, The Sunburnt Calf BK is a trendy yet down to earth place in a relaxed neighborhood.

Only opened for about two months, this Brooklyn restaurant is the perfect spot to try creatively presented and well thought out dishes, with flavors from a world away. Almost immediately upon arrival to the restaurant, the friendly staff offers complimentary shots of their signature Moo Juice.

The Sunburnt Moo Juice contains a passionfruit infused tequila mixed with orange and strawberries. The sweet combination of the fruits mask the usual punch of the tequila well, making for a refreshing way to start off the dinner. The restaurant offers over a half dozen appetizer selections, all of which take South East Asian inspired ingredients, served with an Australian flare.

It is their signature “Australiasian” approach to food that makes The Sunburnt Calf BK’s menu stand out amongst others. The shrimp toast is a savory small plate that contains bites of crispy toast, covered with a layer of mouth watering shrimp. Accompanied with the shrimp toast is an orange plum sauce that gives a sweetness to the dish.

Another must have from the small plate section of the menu is the steam buns with red-braised pork belly. The succulent pork belly is served with sprouts and a dressing, inside a soft steam bun. The light and airy bun is well complimented with a mouthful of packed ingredients.

The long bean dish is a generously sized appetizer that is served with a watercress salad, along with toasted coconut, peanuts, and kaffir. The long beans have a nice bite to them, and the addition of the shaved coconut is a surprising touch that takes this dish to another level.

One of the highlights on The Sunburnt Calf BK’s menu is the Wrap & Roll. Diners have the choice of two meats, which can be crispy Thai chicken, roast duck, red cooking braised pork belly, or curry short ribs. Miniature round roti is served on the side, along with a variety of smaller dishes that can be combined in a wrap.

There is a mildly spicy sauce, Vietnamese guacamole, cucumbers with onions and cauliflower, and herbs including parsley and basil. The Wrap & Roll is a fun and interactive dining option, as people can choose what flavor combinations to pair together.

As a side dish, the sauteed baby bak choy is a perfect choice, in which the classic Asian vegetable is showcased to perfection. Garnished with garlic and a tiny but heat packed chili pepper, the baby bak choy so flavorful you’ll forget you’re eating vegetables.

There are plenty of meat and poultry options on the menu, as well as fresh seafood plates that continue to bring the flavors of Australia and Asia to Brooklyn. The barramundi dish, an Australian fish, is fried in a tumeric beer batter and served atop vermicelli noodles. It is sprinkled with dill and a Vietnamese sauce which equally blends the Australian and South East Asian flavors in one bowl.

The outer layer of the fried fish is crunchy, while the inside reveals a delicately soft white, fresh fish. The unique flavor of dill gives the fish and vermicelli noodles a nice extra component. Seafood options continue with large prawns steamed in beer. Served in a broth that is infused with garlic and lemongrass, these prawns are soft and have just the right amount of spice to give the dish an extra kick.

Capping of the dinner with a couple of The Sunburnt Calf BK’s desserts is a smart choice, as the restaurant packs a lot of sweetness into their desserts. A Thai tea cupcake with cream cheese frosting has just the right amount of frosting to balance the cake, which is moist and flavorful. A creamy flan with diced pineapple and chocolate sauce is another stellar option for dessert lovers.

The richness of the flan pairs well with the crunchy yet juicy texture of the pineapple, while the chocolate sauce gives the plate an extra hit of sugar.

The cocktails available at The Sunburnt Calf BK are masterfully designed with creative combinations. The Lemongrass Rickey, which has Sombra Mezcal mixed with fresh lemon juice, lemongrass agave, pepper bitters, and club soda, is a refreshing drink that has a layer of subtle peppery flavor.

The Zu Moscow Mule contains Zu Bison Grass Vodka, fresh lime juice, Bundaberg Australian Ginger beer, and lychee puree. The infusion of Australian and Asian cultures can be perfectly seen in this drink, with its Australian ginger beer and Asian lychee puree. For a stronger drink option, the 5-Spice St. Clair, is a cocktail made with Buffalo Trace Bourbon, 5-spice agave, and orange and angostura bitters.

More potent than the other drinks, the 5- Spice St. Clair is one not to be missed. Aside from the delectable array of food, the staff and owner at The Sunburnt Calf BK is extremely friendly and helpful when choosing items from the menu. They will happily explain the ingredients of the dishes as well as how they are prepared, and are greatly attentive throughout the whole dining experience.

Local diners in the restaurant easily give high reviews for The Sunburnt Calf BK. “The knowledgeable staff make for a real appetizing experience,” said Christine Youssef, a Brooklyn native. “The ambiance of the restaurant is warm, I like how it is a chic place but it’s also family friendly. The Asian and Australian inspired food is delicious, I’m going to be stuffed for days.”

The restaurant currently serves dinner every evening as well as brunch on the weekends. A crowd favorite is their endless brunch option at $20-$25. Included is one choice of a brunch item, along with all you can drink moomosas, moo Mary’s, Fosters, screwdrivers, and greyhounds. In the next upcoming weeks, The Sunburnt Calf BK will begin to serve breakfast and lunch.

The Sunburnt Calf BK is located at 611 Vanderbilt Avenue in Brooklyn, New York. For more information on making a reservation, check out www.moolifegroup.com or call 347-915-1000.

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