In Particular, the Number of Visitors from Various Southeast Asian Markets, Including Korea, the Philippines, India, Taiwan, Indonesia and Malaysia, Has Risen by 60% over the Past Five Years. There Are 50% Were Come

In particular, the number of visitors from various Southeast Asian markets, including Korea, the Philippines, India, Taiwan, Indonesia and Malaysia, has risen by 60% over the past five years. There are 50% were come from Mainland China, 35% came from local and 15% came overseas. to Define and Drive Global Consumption

Opinion

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27 Aug 2013

An Hodgson C&C Topic Page Manager

Understanding Asia Pacific’s middle class trends and priorities is vital for companies to form successful long-term strategies, because Asia Pacific is home to over half of the world’s middle

class and global consumption growth in the decades ahead will come from this region. Euromonitor International forecasts that the number of households with an annual disposable income over US$10,000 (in purchasing power parity terms) in Asia Pacific will reach 806 million (56.3% of the global total) in 2020, up from 546 million (50.1% of global total) in 2012.

Regional Share in Total Households with an Annual Disposable Income over US$10,000 (PPP): 2012

Source: Euromonitor International from national statistics Note: PPP – purchasing power parity is a method of measuring the relative purchasing power of different countries’ currencies over the same types of goods and services. Because goods and services may cost more in one country than in another, PPP allows us to make more accurate comparisons of standards of living across countries.

Asia Pacific as home to over half of the global middle class

Rapid socio-economic development in China, India, Indonesia, Malaysia, Thailand, Vietnam and other countries in Asia and the Pacific has transformed the region’s consumer demographics as millions of people join the ranks of the middle class. As of 2012, 50.1% of households with an annual disposable income over US$10,000 (in PPP terms) globally came from Asia Pacific, up from 41.2% only five years earlier. The middle class in Asia Pacific – like elsewhere in emerging markets –

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