A Relatively Subdued Retail Picture In 2012

Retail sales growth in Taiwan for the most of 2011 has been relatively subdued compared with 2010. Although recovering domestic demand conditions have provided a helping hand to support retail sales growth in 2011 - private consumption growth in Taiwan is forecast to reach 4.6%, up from 3.7% in 2010 - weakening tourist arrival growth inevitably placed a drag on overall retail sales growth. As illustrated in the accompanying chart, tourist arrival growth embarked on a distinct deceleratory trend since mid-2010 and through 2011, which can be largely attributed to the waning base effects of an impressive tourism showing in the wake of the economic downturn.

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