Analyst Predicts Continuous Increase of Middle Class Consumers
5 June 2014 13:22 WIB
TEMPO.CO, Jakarta - Although global economic condition is yet to stabilize, optimism on emerging markets continues to increase. According to Mashurjha, a senior global economist from Standard Chartered, the increasing optimism was due to the fact that middle class consumers among the biggest spenders. He said to CNBC yesterday that it is a trend that will prop up global economic condition.
A survey conducted by Standard Chartered revealed that the majority of consumers in five growing countries such as Ghana, Kenya, Nigeria, Indonesia and India, will be capable of increasing their income within the next 5 years. "The number of people with an income of US$ 10 to 100 per day [will] increase from 1,8 billion in 2010, to 4,9 billion in 2030," he said.
He forecasted that the middle class expansion in developing countries will be focused on increasing demands of long-lasting consumer goods.
CNBC NEWS | SETIAWAN