By Tim Price – The Price Report (Great Britain) –
To go from west to east: the US middle class is sizeable today, but is not expected to grow much because the US is also a mature economy.
The Latin American middle class is expected to grow quite strongly, but from a low base. The same goes for the Middle East and North Africa, and Sub Saharan Africa.
Europe, again, has a sizeable middle class – but also no growth.
Now take a look at Asia.
The Asian middle class population is forecast to explode – from roughly 500 million people today to something like three billion people over the course of the next two decades.
If the OECD is even half right, that will represent the greatest creation of wealth in human history.
And it isn’t just China. It’s the entire Asia Pacific region.
But within Asia, one market in particular stands out: Vietnam.