The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.Learn More
In celebration of Africa Month, Euromonitor International releases its latest insights on the Continent.
According to Euromonitor International, Africa is the world’s second most populous continent in the world. Its growing young population is expected to command nearly 20% of the world’s population by 2025.
Africa’s 55 independent countries are home to a diverse population of different income groups, religions, races, customs and languages. This diversity requires a more granular and regional approach for a successful and sustained market entry.
Africa’s two largest economies, Nigeria and South Africa, account for nearly 50% of the continent’s GDP in 2017. However, by 2030 these two countries will represent just 37% of Africa’s total GDP, demonstrating the rising economic importance of Africa’s emerging markets. Ethiopia and Rwanda are expected to be the two fastest growing economies in Africa by 2030. Africa will show the highest growth in disposable income globally over the forecast period to 2030, at 9% CAGR.
Euromonitor International’s Megatrends report, “Shifting Market Frontiers: Africa Rising” identifies the key existing and emerging trends in the Continent:
To find out more about the impact of the growing young population in Africa, please visit: https://blog.euromonitor.com/2018/04/key-facts-africas-growing-young-population.html