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July 3, 2015

Changing Income and Expenditure of the Global Middle Class since the 2008-2009 Financial Crisis

An HodgsonAnalyst Insight by An Hodgson - Income and Expenditure Manager

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The middle class in emerging countries has continued to grow and enjoy higher purchasing power since the 2008-2009 global financial crisis while middle-class households in many developed markets have had to cut back on their spending. Rising middle-class spending in emerging economies will create wide-ranging opportunities, but as the patterns of middle-class spending growth are diverse, companies will need to fully understand the target market and adapt their business strategies accordingly. 

Key points                               

  • Half a decade after the global financial crisis of 2008-2009, the fortunes of the global middle class remain mixed. Across the 85 major economies for which Euromonitor International has data, middle class households totalled 475 million in 2014, up from 430 million in 2008 at the start of the global financial crisis. However, 13 out of these 85 major economies have a shrinking middle class, and the decline is not restricted to developed economies; 

  • In a number of countries, where the middle class has expanded in size, middle-income households are not necessarily better off. For example, while Kuwait and the UAE have seen some of the world’s fastest middle class expansions, median household income in both countries fell at the fastest rates globally since 2008. This is because expanding middle class reflects improving income distribution while median household income is a proxy of middle-class purchasing power;   

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July 1, 2015

World Urban Population Share to Hit 60% in 2030

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The world population is expected to reach 8.4 billion by 2030, an increase of 19.8% from 2012. Older age groups will increase rapidly during this time influenced by increasing life expectancy, however, over half of the world's population will still be under 35 years of age in 2030. Urban population will continue to rise rapidly, at nearly twice the pace of total population growth, in 2012-2030 and should account for 60.2% of the world's population in 2030.

 

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June 29, 2015

Emerging Economies Worth US$1 Trillion

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In 2030 there will be nine emerging market economies with GDP over US$1 trillion, up from five in 2014. Ranging from China on US$23,196 billion to Saudi Arabia on US$1,213 billion. The four newcomers will be: Indonesia, Turkey, Nigeria and Saudi Arabia. Between them they will account for more than two-thirds of emerging and developing market GDP. These nine economies are characterised by their differences with huge variations in population and living standards.

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June 26, 2015

Q&A: Augmented Reality and its Prospects

Pavel_MarceuxAnalyst Insight by Pavel Marceux - Technology, Communications and Media Manager

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Reality as we know it is becoming blurred by the introduction of new technologies, which are set to reshape the way consumers interact with devices and their surroundings. Augmented reality, an amalgamation of virtual reality and real life, is the latest technology to provide an immersion environment that can be controlled without traditional physical button-pressing techniques. Its potential applications on a business and consumer level are numerous, despite its relative infancy.

  • What are the differences between virtual (VR) and augmented reality (AR)?

  • In what industries does augmented reality offer practical applications?

  • Is augmented reality a natural fit for wearable tech?

  • What are the primary challenges to its success?

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June 24, 2015

Brain Drain Between Developed Markets

Brain drain is when well-educated individuals emigrate from their home economies to places with better employment opportunities. This is commonly thought of as an emerging-market phenomenon, but it is increasingly common between developed markets as people move out of countries that are still struggling to recover from the economic crisis. Watch the video for complete insights.

Carrie_LennardPodcast feature Carrie Lennard - Business Environment Manager

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Cycle of Greek Bailouts Fails to Tackle Long-Term Economic Malaise

Carrie_LennardAnalyst Insight by Carrie Lennard - Business Environment Manager

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At the time of writing, Greece’s negotiations with the International Monetary Fund (IMF) over its debt look in doubt, and there is the possibility that Greece may default on a €1.5 billion debt repayment installment due to be paid to the IMF on 30th June 2015. The potential default comes amid a host of long-term economic problems, which plague the country. Despite a series of bailout packages, Greece’s debt-to-GDP ratio stood at 177% in 2014, the second highest in the world after Japan. It has a cripplingly high unemployment rate at 26.6% of the economically active population in 2014, a youth unemployment rate which is the highest in the eurozone of 55.8% of the economically active youth population aged 15-24 in 2014 and a real GDP total decline of 22.0% from 2009-2014. These ongoing issues raise questions over the wisdom of continuing to burden Greece with debt while little is being done to address the underlying problems afflicting the Greek economy. In the context of a debt cycle, a default would at least allow Greece to start again.

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Australian Consumers in 2020: A Look into the Future

Daphne KasrielAnalyst Insight by Daphne Kasriel-Alexander - Consumer Trends Consultant

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Australia has elevated itself on the global stage in the last two decades, thanks to a booming mining industry and an influx of economic migrants. However, the country is currently seeing a slowdown in all sectors, with its currency depreciating nearly 20% in just two years. Heading towards the end of this decade, what does the future look like for Australia

AUSTRALIAN CONSUMERS TODAY  

Not afraid to complain

According to the latest report released in December 2014 by the Australian Competition and Consumer Commission (ACCC), over 7,000 individuals filed complaints and enquiries about small businesses and franchising in the second half of last year. Some complaints have even gone viral online, such as one mother’s complaint about a café which did not let her take her pram inside, and another who complained after being told to stop breastfeeding. In a separate report by Queensland University of Technology and University of Warwick published in the same period in the Journal of Marketing Management, one female participant was quoted as saying: “I believe that being forceful when complaining is effective because I think you need to be halfway between forceful and assertive”.  

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June 21, 2015

What Will the Digital World Look Like in 2030?

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The major focus for digital and technology over the next fifteen years will be driving growth and connectivity. In 2030, the world will have 1.5 times as many mobile subscriptions as people. Additionally, as digital lives become increasingly mobile, digital channels will integrate (social, commerce, gaming etc.). As connectivity becomes less of a luxury and more of a necessity, we will see changes in consumer lifestyles and consumption trends as well.  Listen to the podcast for complete insights.

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June 20, 2015

The Global Picture of Migration in 2030

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Migration trends have a big impact on future patterns in consumer spending. Singapore, Australia and Qatar are set to experience the biggest net immigration rates in 2030 at 8.9, 8.0 and 7.4 per 1000 population. This is due to these countries having attractive business environments, and high wages per hour. Poor countries in Eastern Europe and Latin America with few employment prospects will see the highest migration rates in 2030, with Kosovo the highest globally at -23.6 per 1000 population.

Download "Marketing to the ASEAN Consumer" to learn more

 

Have a question or a thought to add? Leave us a comment below.

June 19, 2015

Education in Asia: Key Trends and Facts

Learn more about consumer markets and trends in Asia by downloading our latest whitepaper here.

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Recent Posts

Changing Income and Expenditure of the Global Middle Class since the 2008-2009 Financial Crisis

World Urban Population Share to Hit 60% in 2030

Emerging Economies Worth US$1 Trillion

Q&A: Augmented Reality and its Prospects

Brain Drain Between Developed Markets

Cycle of Greek Bailouts Fails to Tackle Long-Term Economic Malaise

Australian Consumers in 2020: A Look into the Future

What Will the Digital World Look Like in 2030?

The Global Picture of Migration in 2030

Education in Asia: Key Trends and Facts