Indian and SE Asian cities lead growth in household incomes
Asia-Pacific’s fast-growing emerging cities are driving the continued expansion of the region’s middle-income class and the reshaping of its consumption patterns. In previous decades that was driven by China’s ascent to becoming an upper middle-income country, and the rapidly rising living standards of its urban residents.
What you will learn:
- Ho Chi Minh City, Manila, Hyderabad, and Bengaluru lead the rankings of the region’s most important cities in terms of household income growth, and that is driving the rapid expansion of the number of their households classed as either middle or high-income.
- In terms of absolute scale, however, few cities come close to the Chinese mega cities in the sheer number of new middle-income—and indeed high-income—households added over the medium term.
- Productivity growth is key to raising living standards and Asia-Pacific’s most promising emerging cities are showing growing strength in higher productivity industries and services, from high value manufacturing to finance, IT, and business services.
- The increasing number of middle-income households will reshape the five-year outlook for certain consumer products and services, with discretionary consumption categories such as hospitality and recreation out-growing non-discretionary ones such as food and clothing.
City Climate Scenarios
In-depth insights into the economic impacts of climate change and mitigation policies on cities and local economies throughout Europe, the US and Canada.Find Out More
Global Cities Service
Make decisions about market and investment strategies with historical data and forecasts for 900 of the world’s most important cities.Find Out More
European Cities and Regions Service
Regularly updated data and forecasts for 2,000 locations across Europe.Find Out More
China Cities and Regional Forecasts
Quarterly updated data and forecasts for 286 cities and 30 provinces across China.Find Out More