WebOct 12, 2024 · Already, China has the largest middle-class consumption market segment in the world (Figure 1). The global middle-class market is massive — over $41 trillion in … WebMar 18, 2024 · In January 2024, nearly one year into the pandemic, the World Bank revised these growth estimates downward to -9.6% for India but forecast 2% growth for China. A new Pew Research Center analysis finds that the middle class in India is estimated to have shrunk by 32 million in 2024 as a consequence of the downturn, compared with the …
CBN Friday Special丨Back-to-back expos display consumption dynamic of China
WebOct 2, 2024 · Trend 1. The growth of the middle class is defining consumption. Over the next ten years, household consumption will grow by an average of 6% annually to reach RMB 56 trillion, with the middle class potentially representing an estimated 65% of households. By 2027, household income will have increased by around 5% annually, … kia pba playoffs round of 16
China: number of middle class population 2002-2024
The evolution of the middle class means that sophisticated and seasoned shoppers—those able and willing to pay a premium for quality and to consider discretionary goods and not just basic necessities—will soon emerge as the dominant force. To underscore this group’s growing importance, … See more China’s new middle class also divides into different generations, the most striking of which we call Generation 2 (G2). It comprised nearly … See more In 2002, 40 percent of China’s relatively small urban middle class lived in the four Tier-one cities: Beijing, Shanghai, Guangzhou, and … See more WebMiddle class households typically have enough income to satisfy their primary needs – food, clothing, and shelter – with some disposable … WebDec 21, 2015 · Furthermore, upper-middle-class and affluent households will account for 55% of Chinese urban consumption and 81% of its incremental growth over the next five years. Consumption among upper-middle-class and affluent households is growing at 17% per year and, by 2024, will account for $1.5 trillion in incremental spending in urban … kia pba playoff winner 2022