Their economies are growing fast. According to The world in 2050 report by the HSBC, 19 of the 30 largest economies in 2050 are considered emerging markets today.
The rising middle class fuels consumer spending
Projected increase in middle class spending between 2009 – 2030
Europe
4%
North America
4%
Latin America
103%
Middle East and North Africa
145%
Sub-Saharan Africa
223%
Asia Pacific
559%
Calculated using data from The Emerging Middle Class in Developing Countries by Homi Kharas, Jan 2010
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