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Women will be the main driver of consumer spending in China in the next decade, which is expected to reach $5.3 trillion, reads a report by Christine Peng, responsible for the consumer sector of Greater China in UBS Global Research.
Consumption growth up to 2030 will be 80% due to an increase in income of Chinese women, Peng said. China's improving financial situation for women, along with an increase in the share of single-person households, could also change the country's consumption patterns, she added.
At the same time, the UBS study found that higher education levels among women could also have a negative impact on increased consumption. It suggested that women tend to invest more.
The projected increase in consumption over the next decade means that China will account for about 27 percent of global consumption growth by 2030, UBS predicts. For the U.S., the projected figure is 19%.
source: forbes.com
Consumption growth up to 2030 will be 80% due to an increase in income of Chinese women, Peng said. China's improving financial situation for women, along with an increase in the share of single-person households, could also change the country's consumption patterns, she added.
At the same time, the UBS study found that higher education levels among women could also have a negative impact on increased consumption. It suggested that women tend to invest more.
The projected increase in consumption over the next decade means that China will account for about 27 percent of global consumption growth by 2030, UBS predicts. For the U.S., the projected figure is 19%.
source: forbes.com
