World Data Lab’s webinar coincides with India overtaking China as the most populous country in the world.
Vienna, Austria, World Data Lab invites business leaders and industry professionals to an online webinar, “Where is the future consumer market- India or China?”. The webinar will explore consumer spending trends in both countries and provide valuable insights on strategic market entry and development options. The webinar is free to attend and will be held on March 9, 2023, from 4-5 pm CET.
“According to World Data Lab projections, the global consumer class will grow by another 112m people in 2023. For the first time in human history, the global consumer class will exceed 4b people,” says Dr. Homi Kharas, WDL’s Co-Founder and Chief Economist, “total consumer spending will increase by another $2.1 trillion, reaching $68.6 trillion ($2017 PPP).”
2023 consumer class growth will be driven by Asia, with the addition of 91 million people and$ 800 billion. China and India are projected to add another 36 million and 31 million new consumers respectively. These new projections represent an upgrade of 26 million (and $1.4t in consumer spending) largely due to China’s easing of COVID restrictions.
Moderated by Dr. Reshma Sheoraj, VP for strategic engagements, the webinar will feature distinguished panelists Dr. Homi Kharas, Co-Founder and Chief Economist, and Luis Simoes, Chief Revenue Officer.
“We’re excited to share the most credible quantifications and projections from our platform, World Data Pro. Our new module, Consumer Categories, allows us to see exactly what consumers in India and China will be spending their money on through 2030, getting as granular as personal care, food, and beverages.” - Luis Simoes, Chief Revenue Officer at World Data Lab
The panel will explore the changing economic landscape and how businesses can use granular data and forecasts from World Data Lab's leading analytics platform, World Data Pro, to gain a competitive advantage in these critical markets.
· China and India make up ⅓ of the global consumer class
· By 2030, India’s consumer expenditure will increase by more than the EU and US
· Both countries account for over 40% of added consumer expenditure through 2030
· Both countries have similar per capita spending but vastly different spending categories
About World Data Lab:
World Data Lab (WDL) is a data enterprise that produces the most consistent and credible estimates for spending and demography. Our data models are global, granular, and forward-looking and track the Sustainable Development Goals in real-time, helping provide unique insights for businesses.
The webinar is free to attend and will be held on March 9, 2023, from 4-5 pm CET. Registration is open now at https://us02web.zoom.us/webinar/register/WN_hJ9qdz3kQ8K1swNxwuCX1Q.
For media inquiries, please contact: Anne Mason anne.mason@worlddata.io
For more information on World Data Lab, visit https://worlddata.io/.
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