Sunday, November 28, 2021

Asia’s consumer class is growing fast. This chart shows how

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Asian countries are expected to exhibit the biggest growth of the consumer class among the world’s 30 biggest consumer markets.

The consumer class is defined as a group of people who spend more than $11 per day.
Currently, 55% of the global consumer class live in Asia. Nearly 76 million Indonesians alone will join the consumer class by 2030.
This will make Indonesia the fourth biggest consumer market in the world, behind China, India and the U.S. Bangladesh, Pakistan and the Philippines also expect big growth.

Between the years 2020 and 2030, almost 76 million Indonesians will join the so-called consumer class, a group of people who spend more than $11 (in 2011 PPP dollars) per day. This will cause the country to become the fourth biggest consumer market in the world behind the giants of the field – China, India and the United States.

Even today, 55 percent – or 2.2 billion people – of the global consumer class live in Asia, especially in the world’s two biggest consumer markets, India and China. Despite the fact that Indian consumer class growth is outpacing China’s, the latter country is expected to remain the biggest consumer market in 2030. This is according to data by research company World Data Lab, published by Brookings Institution.

Image: Statista

Despite the fact that Indian consumer class growth is outpacing China’s, the latter country is expected to remain the biggest consumer market in 2030.

The 52 million Bangladeshis joining the consumer class by the same year will make their home country rise quickly in the list of the biggest consumer markets, catapulting it from rank 28 into rank 11….

Read the complete story on Thailand Business News

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Thailand Business News is a comprehensive news service about Thailand with a business and financial perspective edited in Bangkok by Siam News Network

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