DA's Plan for Growth and Jobs - Democratic Alliance
DA's Plan for Growth and Jobs - Democratic Alliance
DA's Plan for Growth and Jobs - Democratic Alliance
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Global share of middle class consumers (%)120North America Europe Latin AmericaAsia Pacific Sub-Saharan Africa Mid. East <strong>and</strong> N. Africa1008060402002009 2020 2030Table 13: Raid economic growth in Asia, Africa <strong>and</strong> Latin America is changing the l<strong>and</strong>scapeof middle class consumption globally. To capitalise on these trends, South Africa needs tofocus on building its market presence in the Global East <strong>and</strong> South. Source: CHECProjected middle class consumption in developing countries (US$ ‘000 000)140001200010000800060004000ChinaIndiaBrazilIndonesiaMexico200002009 2020 2030Table 14: Rapid economic growth in these developing countries is resulting in improvedliving st<strong>and</strong>ards <strong>and</strong> the emergence of a large <strong>and</strong> exp<strong>and</strong>ing middle class. By 2020, theAsia Pacific region will replace Europe as the world’s largest consumer market, <strong>and</strong> by 2030two out of every three middle class people will be Asian. Source: Brookings Institute78 | P a g e
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