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Global consumption power shifts towards India and emerging Asia due to rising incomes, McKinsey reports.
McKinsey Global Institute reports a shift in global consumption from North America and Western Europe to India and emerging Asia, due to rising incomes and changing demographics.
By 2050, these regions are projected to account for 30% of global consumption, up from 12% in 1997.
This shift implies significant changes for businesses, as they must adapt to cater to the evolving tastes and preferences in these emerging markets.
3 months ago
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