Income and Expenditure in Asia Pacific
Asia Pacific, with large populations, rising incomes and expanding middle classes, is a region with great consumer market potential. In 2023, it is set to overtake North America as the region with the highest total consumer spending. However, Asia Pacific is a region with grave income disparities and rising income inequality, which require companies to adopt a granular approach. The region’s gender income gap is also set to widen, which will hold back some consumer spending growth potential.
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