World teens cutting their spending on clothes, games

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 US, Spain and Latin America.

Some 19 per cent 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.

Teens' annual spending power in the United States alone is $176 billion and in Brazil it is $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 American teens (54 per cent) 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, Brazil and Portugal were more optimistic, with only one-third seeing such a long downturn.