"Brewers and tobacco firms hard hit by downturn" from South China Morning Post

"Beer sales in Europe and North America rose in the recession of 2001 and 2002 for Heineken and Interbrew, the predecessor of Anheuser-Busch InBev, prompting InBev's finance chief, Felipe Durta, to remind investors of beer's status as "cheap entertainment" in a 2008 presentation."

But last year, the world's top four brewers all sold less beer than in 2008. Volumes in Europe and North America fell particularly sharply.

In some countries with a bar-drinking culture, consumers have opted en masse to drink at home. Britain's Punch Taverns this year announced plans to sell more pubs as it struggles to keep them profitable."