Cities’ Global Overview on Consumer Expenditure Launched
Euromonitor International’s new briefing on global consumer expenditure examines projected trends in spending across the world’s cities over 2017-2030. Consumer spending growth is indicative of economic progression, rising disposable incomes and improving living standards—factors which can help companies gauge the economic potential of a given urban market.
Affordability and Discretionary Spending in Asia-Pacific Cities 2030
Source: Euromonitor International from national statistics/ Eurostat
Note: Discretionary goods and services denotes expenditure on everything except housing, food and non-alcoholic beverages, and clothing and footwear. Cut-off values reflect regional city medians.
Chinese cities to lead global urban expenditure growth: China’s cities will be the driving force of urban consumer expenditure in the near-to-mid future. According to Euromonitor International, over 2017-2030, urban consumers in China will contribute USD3.4 trillion (constant prices) in spending, just edging the US, with USD3.1 trillion, and far outstripping growth in India (USD744 billion).
Ageing influences urban healthcare spending: In light of population ageing, which has spread across developed markets and is progressively manifesting itself in some developing regions, demand for healthcare is anticipated to surge. Globally, US cities are set to be the main drivers of healthcare spending between 2017 and 2030, partly due to the rising cost of health insurance.
As well as taking into account the major trends shaping the global economy such as the dominance of the Chinese economy and population ageing, the briefing provides a breakdown of consumer spending trends by various category groups and posits the affordability and discretionary spending capability of households in the world’s major cities.