Consumers are tightening their belts with 44 percent of New Zealanders planning to cut back on discretionary spending for the next 12 months.

This is according to the inaugural MasterCard Worldwide Index of Consumer Purchasing Priorities.

The figure is among the lowest in Asia Pacific. Across the region 77 percent of consumers are indicating plans to cut back.

In New Zealand, the top three areas of discretionary spending for the next 12 months will be dining and entertainment, followed by personal travel and fitness and wellness.

"This might reflect that people are continuing some activities as a treat or as a way to unwind in uncertain economic times," said Stuart McKinlay, country manager New Zealand, MasterCard Worldwide.

Male consumers are slightly less likely to cut back on their discretionary spending than female consumers.

Younger consumers are less likely to cut back on spending compared to older consumers.

More than 68 percent of consumers aged 30 years and below will cut back on spending, compared to close to 72 percent of consumers aged 56 years and above.

One in three consumers are looking to save more than 20 percent of their income over the next 12 months.