Euromonitor International is pleased to present a new report: Global Overview of Consumer Expenditure to 2030. Global consumer spending growth prospect will remain static through to 2030, as spending growth in emerging markets is not expected to rebound to the pre-2011 levels while households developed markets will rein in their spending amid uncertainties. However, there will still be plenty of opportunities for businesses who can adapt to the changing consumer landscape, which features among other things the rise of single-person households, population ageing, urbanization, and the spending boom in Asia.
Did you know?
- By 2030, India will have overtaken Japan, German and the United Kingdom to become the world’s third largest market in total consumer expenditure.
- In 2030, the average household spending in emerging and developing countries is expected to be 81.4% lower than that in developed countries.
- The share of urban consumer spending in global consumer expenditure will decline, due to rising poverty and income inequality in many urban areas, but the fact that urban consumers will account for a greater share of the global population means that cities matter more than ever before.
- In China between 2018 and 2030, total spending by single-person households is set to expand by 230% – the fastest expansion of all types of households – to reach US$1.8 trillion or 13.3% of the country’s total spending in 2030.