Bangladesh is set to overtake the UK and Germany and become the world’s ninth-largest consumer market by 2030, according to HSBC Holdings. According to Bloomberg, HSBC also predicts that Indonesia will pass Brazil to take fourth place.
According to analysts led by Herald van der Linde, head of equity strategy for Asia Pacific, Bangladesh will be Asia’s fastest-growing consumer market in the years to 2030, followed by India, the Philippines, Vietnam, and Indonesia. The analysts measured expansion in terms of people earning more than $20 per day in constant purchasing power parity terms.
Bangladesh will rise from 16th to ninth in the world’s consumer markets by 2030, while the UK will fall from 14th to 11th and Germany from 8th to 12th, according to HSBC.
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