By Lisa Mahapatra
According to a new report from McKinsey & Company,
the miracle growth story of the emerging markets is far from over.
By 2025, consumers in emerging markets will spend
US$30-trillion annually, which will be “the biggest growth opportunity in the
history of capitalism,” according to the report.
For centuries, the percentage of people in the world
with discretionary income (consumers) was dramatically smaller than the
percentage of people who had just about enough for necessities or less.
But since the industrial revolution, the percentage of
consumers has been rising. And some of
the biggest growth will happen between now and 2025 thanks to the emerging
markets.
This chart that shows how much the consumer class will
grow in developed and emerging markets:
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