Consumers worldwide are leaving room for purchases of alcohol and tobacco products even as they tighten their belts on other spending during difficult economic times, the Associated Press reported Aug. 12.

Favorable financial reports from some of the major "sin stocks" worldwide confirm that many consumers are unwilling to give up alcohol and tobacco even when prices rise. Anheuser-Busch Cos. Inc. recently reported a quarterly profit despite having had concerns about the impact of increased costs for the raw materials used in brewing.

"It's inelastic demand as far as many of these stocks are concerned," said Keith Bowman, a market analyst with Hargreaves Lansdown. "So far there's signs that they are holding up, although there's still concern that these industries will see some impact."

Some companies have found that their products maintain market position because individuals around the world consider them status symbols that denote success and wealth. Diageo PLC, whose brands include Johnnie Walker whiskey and Captain Morgan rum, expects its whiskey business to maintain 8 to 9 percent growth, largely from demand in Latin America and Asia.

While consumers appear to be sticking with alcohol and tobacco during this period of economic uncertainty, other "vice" industries such as gambling and pornography appear to be faring worse. Credit ratings agency Moody's has downgraded the debt of about 20 gaming companies this year.