Income and Expenditure

The consumer market in the Philippines is set to benefit from growing urbanisation, an expanding industrial sector and gradually reducing poverty levels. Furthermore, rural consumers are projected to increase their role in the domestic market,…

With 2020’s COVID-19-driven channel shifts, beauty and personal care saw a surge in e-commerce. 2020 also saw direct sellers and beauty specialist retailers embracing digital activities and experimenting with omnichannel strategies. The post-pandemic…

Consumer income in India is anticipated to more than double by 2040, thanks to large-scale investments in the manufacturing sector, expanding IT services and rising domestic consumption. Purchasing power will be concentrated in present-day Gen Z…

Thanks to rising commodity prices and the economy recovering from the pandemic, income and expenditure in Latin America are set to increase significantly over 2020-2040. The income gap between rural and urban households is expected to shrink due to…

The USA is forecast to remain the world’s biggest consumer market through to 2040. Stimulus packages adopted by the government to combat COVID-19 effects are expected to encourage consumption over the outlook period, with California remaining the…

Asia Pacific is projected to witness the fastest growth in disposable income and consumer expenditure globally over 2021-2040, due to rapid economic development, ongoing urbanisation and digitalisation. However, huge income disparities and rising…

Demand for discretionary goods and services will be supported by high per capita income levels and a growing wealthy consumer segment. However, Singapore’s income gap is set to remain large by global standards over 2021-2040, due to high levels of…

The population in the Middle East and Africa region is growing rapidly, unlocking high levels of unmet potential and making the region an exciting prospect. Nevertheless, the fastest growing income segment is set to remain the lowest income class,…

Thailand’s consumer income is expected to grow strongly by 2040, facilitated by stable economic development, strong employment trends, growing manufacturing and recovering tourism flows. Furthermore, the country is expected to grow its middle class…

Income and spending in Morocco are projected to improve slightly during 2020-2040, due to expanding business activities especially in higher value-added industries, and growing employment opportunities. In addition, strong economic development will…

Angola’s economy remains dependent on crude oil exports. The country’s consumer income is set to decrease by 2040, constraining discretionary expenditure growth. The implementation of ambitious structural reforms is needed to ensure diversification…

Tanzania’s per capita gross income is expected to rise, however only to pre-pandemic levels. The country’s consumer market remains heavily reliant on the agriculture sector. A significant drop in either the quantity of harvested crops or selling…

Consumer income in New Zealand to register substantial growth over 2021-2040, as the country has dealt with the pandemic well and is on its way to full recovery. Nevertheless, the country is also set to register a growing inequality and income gap…

Although in the long term the consumer market might expand, the ongoing political turmoil in the country will hinder income and consumer market growth over the medium term. Consumer sentiment will be held back by the political crisis, widespread…

Per capita income levels in Indonesia are set to more than double over the long term. Structural reforms and improving business environment are expected to help attract investment and boost job creation in higher-value-added industries, driving…

Huge income inequality and disruptions to economic activity by the COVID-19 pandemic pose risks to consumer market development in Ghana over the long run, even though the country is projected to be among the fastest growing consumer markets in the…

Consumer income is predicted to register stable growth over 2021-2040, supported by robust economic expansion. Future purchasing power will be concentrated in the hands of current-day Middle Youth, while seniors will be the major spenders on luxury…

Per capita income levels in Taiwan will rise and remain among the highest regionally by 2040, owing to a highly educated workforce, technological progress and the country’s increasing role in the global technology supply chain. A strong middle class…

Stable economic growth and low unemployment are set to support steady expansion in Swiss household incomes over 2021-2040. While discretionary spending patterns will be driven by Mid-Lifers, the elderly population will hold the majority of buying…

Consumer income is predicted to double by 2040, as Sri Lanka is gradually transitioning towards a more urbanised economy built around the manufacturing and services sectors, underpinned by economic reforms. Over 2021-2040, the middle class is…