Bangladesh is expected to overtake the UK and Germany and thus become the world's ninth-largest consumer market globally by 2030, according to an HSBC report.
According to HSBC Global Research ‘The Flying Dutchman’ report titled ‘Asia’s shoppers in 2030’ - over the next few decades, the world, and Asia in particular, will undergo significant demographic shifts.
As per the report, Bangladesh is expected to see the fastest growth in its consumer market - that is, the population earning more than $20 per day in constant PPP terms - in the current decade.
It is followed by India, the Philippines, Vietnam, and Indonesia, the report mentioned.
Korea and Japan will see a drop in the overall market by 2030 and in terms of size, mainland China is expected to retain its dominant position as the biggest consumer market in the world with more than 800m consumers by 2030 and 820m by 2040.
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