Consumer spending in Asia, with a big push from China, is an increasingly important economic driver for the region.
But with the global trade environment fragile and U.S.-China tariff conflict escalating, it remains a question whether the momentum can continue.
The answer, according to some strategists, investors and analysts, is largely that it will — though there are potential bumps in the road.
The outlook for consumer spending in Asia, a region which accounts for 60 percent of the world's population, remains bright overall, according to a report issued Monday by Daiwa Capital Markets in Hong Kong.
Optimism is buoyed by factors such as an overall relatively young and growing population, an expanding middle class and increasing wealth.
"Consumption will likely be a dominant economic theme in Asia in the next few decades, underlined by population expansion and rising private incomes," wrote the report's lead author, Paul M. Kitney, Daiwa's chief equity strategist for Asia-Pacific research.
"Possible setbacks caused by renewed protectionist sentiment and global liquidity tightening in the near term are unlikely to derail the uptrend in Asian consumption, in our view," the report said.
Karine Hirn, partner at asset manager East Capital in Hong Kong, also said that Asia remains an attractive consumer proposition given positives such as demographics and increasing purchasing power.
Hirn added that it is important to remember that even though tariffs can impact consumer prices and inflation, trade itself will continue and Asian consumer spending is likely to avoid major disruption.