HELSINKI (Reuters) - In the economic downturn, teenagers around the world have focused their spending cuts on clothes, games and food, according to a survey by networking site Habbo Hotel.
The survey of 61,000 teenagers in more than 30 countries showed one teenager out of three is getting less money from their parents, with more than half of youngsters getting less to spend in the United States, Spain and Latin America.
Some 19 percent of youngsters globally say the recession has most hurt their spending on console and computer games — the industry for which teenagers are a key client group.
For a graph showing youth spending cuts focus click on:
Teens’ annual spending power in United States alone is $176 billion and in Brazil its $43 billion, according to a recent survey by advertising firm WPP.
Two teens out of three in Brazil, Portugal, Spain and Singapore said they are consciously spending less in the downturn.
More than half of U.S. teens (54 percent) think it will take at least three years for the economy to recover, with also half of teenagers in Britain and France expecting recovery to take at least three years.
Teenagers in Finland, Sweden and in Brazil and Portugal were more optimistic, with only one-third seeing as long a downturn.
Reporting by Tarmo Virki; Editing by Kenneth Barry