The document summarizes the rise of the middle class in Asia. It discusses how the middle class is defined and estimates that there will be over 1 billion people in the emerging Asian middle class by 2030. Currently, assets in emerging Asia are skewed toward home ownership and bank deposits, but as social safety nets and financial products expand, more wealth will flow into equities and fixed income. The size and spending power of Asia's growing middle class will significantly impact global wealth and demand in the coming decades.
This document provides an introduction and overview of India as a market. It discusses India's economy, industries, consumer market, major cities, and comparisons to other global powers. Some key facts presented include that India has the 4th largest economy in the world, the 2nd largest pool of scientists and engineers, and experienced the 2nd highest GDP growth rate in 2007 at 11.6%, second only to China. The document provides economic indicators for India and shares of world GDP for major countries to contextualize India's growing global economic influence. It aims to outline opportunities for international businesses in India's expanding economy and consumer market.
This document summarizes key findings from the HSBC Bank International Expat Explorer Survey 2009 regarding expat economics. Some of the main findings include:
- Wealth is moving east, with the highest paid expats found in countries like Russia, Hong Kong, and India. Expats in Asia are also able to scale back spending more easily.
- Expats are generally able to save more after moving abroad, with those in countries like Saudi Arabia, Russia, and Qatar saving the most. Popular investment options include property, shares, and managed funds.
- The global economic crisis has changed spending habits for many expats, with over 60% cutting back on luxuries or day-to-day expenses. Exp
Spire wishes their business associates and valued partners a happy new year in this short document. They express hope for continued success and growth together in the future. The document conveys well-wishes to partners as a new year begins.
Spire Research and Consulting provides research and consulting services for emerging markets. They have been in business since 2000, employ 100 people across 10 offices, and serve Fortune 1000 companies and governments. Spire offers a broad spectrum of research and consulting solutions to support market growth and entry. Their competitive advantages include an in-depth understanding of market ecosystems and practical solutions. One of their services is geo-marketing, which integrates geographic parameters into market research to enhance understanding where location is key. They have experience conducting various types of geo-marketing studies and mapping across multiple countries to support clients' needs. One case study example described involved researching traditional retailers' banking habits and supply chain management in Indonesia to inform strategies for mobile and branchless banking opportunities
The presentation talks about Digital Financial Services available in Indonesia. It discusses the customer's perspective. What challenges and opportunities lie ahead?
This document summarizes a presentation on cloud computing and customer experience management. It discusses how cloud literacy has increased with more personal and enterprise applications being accessed through the cloud. Both top-down and bottom-up approaches are used to understand customers, including surveys and analyzing unsolicited feedback. Customer experience management providers employ both approaches to provide actionable insights. The growth of social media, mobility, and cloud computing is driving big data opportunities in analytics and new jobs. Cloud adoption is a key priority for many countries in Asia to develop digital economies and improve public services.
This document provides an introduction and overview of India as a market. It discusses India's economy, industries, consumer market, major cities, and comparisons to other global powers. Some key facts presented include that India has the 4th largest economy in the world, the 2nd largest pool of scientists and engineers, and experienced the 2nd highest GDP growth rate in 2007 at 11.6%, second only to China. The document provides economic indicators for India and shares of world GDP for major countries to contextualize India's growing global economic influence. It aims to outline opportunities for international businesses in India's expanding economy and consumer market.
This document summarizes key findings from the HSBC Bank International Expat Explorer Survey 2009 regarding expat economics. Some of the main findings include:
- Wealth is moving east, with the highest paid expats found in countries like Russia, Hong Kong, and India. Expats in Asia are also able to scale back spending more easily.
- Expats are generally able to save more after moving abroad, with those in countries like Saudi Arabia, Russia, and Qatar saving the most. Popular investment options include property, shares, and managed funds.
- The global economic crisis has changed spending habits for many expats, with over 60% cutting back on luxuries or day-to-day expenses. Exp
Spire wishes their business associates and valued partners a happy new year in this short document. They express hope for continued success and growth together in the future. The document conveys well-wishes to partners as a new year begins.
Spire Research and Consulting provides research and consulting services for emerging markets. They have been in business since 2000, employ 100 people across 10 offices, and serve Fortune 1000 companies and governments. Spire offers a broad spectrum of research and consulting solutions to support market growth and entry. Their competitive advantages include an in-depth understanding of market ecosystems and practical solutions. One of their services is geo-marketing, which integrates geographic parameters into market research to enhance understanding where location is key. They have experience conducting various types of geo-marketing studies and mapping across multiple countries to support clients' needs. One case study example described involved researching traditional retailers' banking habits and supply chain management in Indonesia to inform strategies for mobile and branchless banking opportunities
The presentation talks about Digital Financial Services available in Indonesia. It discusses the customer's perspective. What challenges and opportunities lie ahead?
This document summarizes a presentation on cloud computing and customer experience management. It discusses how cloud literacy has increased with more personal and enterprise applications being accessed through the cloud. Both top-down and bottom-up approaches are used to understand customers, including surveys and analyzing unsolicited feedback. Customer experience management providers employ both approaches to provide actionable insights. The growth of social media, mobility, and cloud computing is driving big data opportunities in analytics and new jobs. Cloud adoption is a key priority for many countries in Asia to develop digital economies and improve public services.
This document summarizes banking habits and cash flow management practices of Indonesian retailers. It finds that most retailers have accounts at BRI bank and use ATMs most commonly. Nearly all retailers pay suppliers in cash and source personal savings as their primary funding. Only 8% use credit, mostly borrowing from banks for operational expenses or stock. Interest rates on loans average 3% with terms of 12-36 months.
The document provides findings from a survey on customers' and vendors' perspectives on online and offline purchase of information and communication technology (ICT) products in India.
For customers, 54% purchase ICT products online, with mobile phones and accessories being the most popular items. 66% feel comfortable buying low-cost items (<INR 15,000) online but prefer higher-cost items offline. Convenience, discounts and product information drive online purchases. Amazon is the most used and preferred e-commerce platform.
For vendors, most have both online and offline presences but sell more product types offline. They associate with multiple e-commerce platforms but feel online sales currently have limited impact.
Mr Jeffrey Bahar, Deputy Chief Executive Officer of Spire Research and Consulting, was honored to be invited as a guest speaker. In his presentation, Bahar spoke about trends gaining momentum in the outsourcing sector in Asia. He highlighted how it is crucial to understand risks involved and plan for crisis management as well prior to setting-up business offshore.
ASEAN is now poised as the hotspot for global automotive manufacturing, with much credit given to Indonesia. The increasing number of Original Equipment Manufacturers (OEMs) has played a pivotal role in driving the demand in the automotive industry. With that in mind, the South East Asia Automotive Summit 2014 gathered key industry stakeholders, such as global car OEMs, government bodies, associations, as well as manufacturing solutions providers and consultants, to discuss the market outlook and potential business opportunities present in the automotive industry in Indonesia
The document summarizes the growth of Spire Research and Consulting, a boutique consultancy, into an international network with 10 offices over 16 years. It describes Spire's focus on customized market research and consulting projects for multinational companies. Spire emphasizes strategic planning, evolving solutions based on experience, cultivating clients and networks, and organic international expansion to become a leading research consultancy in emerging markets.
Asia-Pacific holds a wealth of opportunities for different industries - from outsourcing production to take advantage of lower costs, to reaching out to new target customers. However, diversity at both regional and local level poses a significant challenge to navigating the markets, and to defining a successful growth strategy. When assessing market opportunities or planning strategies for Asia Pacific, reliable market intelligence must be brought into play to ensure this diversity is taken into account. Business strategies must be tailored to each sector and country according to local market characteristics.
This presentation shows selected slides from a GIA white paper. To download the entire white paper that you are interested in, please visit http://bit.ly/GIAinsightWP
This document discusses the economic development of different regions over time and lessons that can be learned. It makes three key points:
1) Historically, Asian economies like China and India produced the majority of global GDP, but industrialization in Western Europe led to their economies growing much faster starting in the 18th century.
2) East Asian economies like China, South Korea and Japan experienced much faster economic growth over the past 50-60 years compared to South Asian countries like India, Pakistan and Nepal.
3) Despite reductions in poverty rates, the total number of poor people in South Asia has actually increased due to high population growth. Sustained economic growth is needed to continue reducing both poverty rates and numbers
'Converge' Cultivating SEA for the future of foodShu Jun Lim
This document provides an overview of startups in Southeast Asia that are addressing challenges in the agriculture industry and food sector. It discusses how some startups are helping smallholder farmers gain access to capital, knowledge, and markets through platforms like crowdfunding, mobile apps, and online marketplaces. It also explores how technologies like IoT, blockchain, and data collection can help improve supply chain traceability, transparency, and efficiency. The document examines a variety of Southeast Asian startups working in areas like digital farming, funding access, marketplace development, and data/information platforms.
This document summarizes banking habits and cash flow management practices of Indonesian retailers. It finds that most retailers have accounts at BRI bank and use ATMs most commonly. Nearly all retailers pay suppliers in cash and source personal savings as their primary funding. Only 8% use credit, mostly borrowing from banks for operational expenses or stock. Interest rates on loans average 3% with terms of 12-36 months.
The document provides findings from a survey on customers' and vendors' perspectives on online and offline purchase of information and communication technology (ICT) products in India.
For customers, 54% purchase ICT products online, with mobile phones and accessories being the most popular items. 66% feel comfortable buying low-cost items (<INR 15,000) online but prefer higher-cost items offline. Convenience, discounts and product information drive online purchases. Amazon is the most used and preferred e-commerce platform.
For vendors, most have both online and offline presences but sell more product types offline. They associate with multiple e-commerce platforms but feel online sales currently have limited impact.
Mr Jeffrey Bahar, Deputy Chief Executive Officer of Spire Research and Consulting, was honored to be invited as a guest speaker. In his presentation, Bahar spoke about trends gaining momentum in the outsourcing sector in Asia. He highlighted how it is crucial to understand risks involved and plan for crisis management as well prior to setting-up business offshore.
ASEAN is now poised as the hotspot for global automotive manufacturing, with much credit given to Indonesia. The increasing number of Original Equipment Manufacturers (OEMs) has played a pivotal role in driving the demand in the automotive industry. With that in mind, the South East Asia Automotive Summit 2014 gathered key industry stakeholders, such as global car OEMs, government bodies, associations, as well as manufacturing solutions providers and consultants, to discuss the market outlook and potential business opportunities present in the automotive industry in Indonesia
The document summarizes the growth of Spire Research and Consulting, a boutique consultancy, into an international network with 10 offices over 16 years. It describes Spire's focus on customized market research and consulting projects for multinational companies. Spire emphasizes strategic planning, evolving solutions based on experience, cultivating clients and networks, and organic international expansion to become a leading research consultancy in emerging markets.
Asia-Pacific holds a wealth of opportunities for different industries - from outsourcing production to take advantage of lower costs, to reaching out to new target customers. However, diversity at both regional and local level poses a significant challenge to navigating the markets, and to defining a successful growth strategy. When assessing market opportunities or planning strategies for Asia Pacific, reliable market intelligence must be brought into play to ensure this diversity is taken into account. Business strategies must be tailored to each sector and country according to local market characteristics.
This presentation shows selected slides from a GIA white paper. To download the entire white paper that you are interested in, please visit http://bit.ly/GIAinsightWP
This document discusses the economic development of different regions over time and lessons that can be learned. It makes three key points:
1) Historically, Asian economies like China and India produced the majority of global GDP, but industrialization in Western Europe led to their economies growing much faster starting in the 18th century.
2) East Asian economies like China, South Korea and Japan experienced much faster economic growth over the past 50-60 years compared to South Asian countries like India, Pakistan and Nepal.
3) Despite reductions in poverty rates, the total number of poor people in South Asia has actually increased due to high population growth. Sustained economic growth is needed to continue reducing both poverty rates and numbers
'Converge' Cultivating SEA for the future of foodShu Jun Lim
This document provides an overview of startups in Southeast Asia that are addressing challenges in the agriculture industry and food sector. It discusses how some startups are helping smallholder farmers gain access to capital, knowledge, and markets through platforms like crowdfunding, mobile apps, and online marketplaces. It also explores how technologies like IoT, blockchain, and data collection can help improve supply chain traceability, transparency, and efficiency. The document examines a variety of Southeast Asian startups working in areas like digital farming, funding access, marketplace development, and data/information platforms.
Rising china’s growing presence in South Asia and the Indian ocean.Will this ...Vinoli Soysa
This document provides information on China's growing presence and influence in South Asia and the Indian Ocean region. It discusses China's "String of Pearls" strategy of building ports and diplomatic ties across the Indian Ocean rim. This includes the Gwadar port in Pakistan and relationships with Sri Lanka, Bangladesh, and Burma. China's goals are to protect its economic and security interests, particularly oil shipments from the Middle East, and to counter growing Indian influence in the region. The document examines China's strengthening political and economic relations with Pakistan, Sri Lanka, and other South Asian nations through trade agreements and infrastructure development projects.
Provides an overview of the commercial importance of Asian economies and consumers, especially with reference to technology and e-commerce companies contemplating their specific Asian strategies.
This document provides a summary of the Southeast Asia Exit Landscape Report 2.0. It discusses how Southeast Asia, led by Vietnam, Singapore, and Indonesia (the "Golden Triangle"), has emerged as a top destination for global investment and is well positioned for continued strong growth. Key points include: (1) Southeast Asia saw record fundraising and foreign direct investment in 2021, surpassing other regions such as China; (2) The Golden Triangle countries continue to strengthen their positions through growing digital economies, large consumer markets, and talent pools; and (3) Vietnam in particular is attracting significant manufacturing investment and seen as China's potential replacement as a global factory.
This document discusses the potential for India to emerge as an economic superpower. It outlines factors that could support India's rise, including its growing economy, large workforce, infrastructure development, and influence through diplomacy. The document also examines how Asian economies are taking on greater leadership roles globally as China's influence grows through initiatives like the Belt and Road Initiative. While India faces challenges around security, building strong institutions, and ensuring internal peace, its continued economic growth could allow it to one day achieve superpower status to balance China's dominance in Asia.
After the global financial crisis the future of interantional higher educationUniversity of Limerick
The market for international higher education has been growing rapidly, with an estimated 2.5m students studying outside their home country. This growth has been driven by excess demand for higher education in developing countries spilling over into the universities of the developed world. The picture was starting to change by the middle of the decade, as Asian nations invested heavily in their domestic higher education sectors and the spread of English-medium instruction and the harmonisation of degree structures led by the Bologna process began to make the international higher education market more contestable. The current “global financial crisis” has disproportionately impacted the two largest exporters of higher education, the US and the UK, both of which are struggling with recession and ballooning fiscal deficits. This presentation explores the ways in which the GFC may accelerate recent trends and lead to a reshaping of the international higher education landscape.
QS Asia-Pacific Professional Leaders in Education (QS-APPLE) 5th Annual Conference, University of Malaya/Universiti Kebangsaan Malaysia, Kuala Lumpur, November 2009
This presentation was given at our annual investment conference and highlights global opportunities in the emerging markets. Presenters discuss investment opportunities in China and India, emerging markets financial services and China's healthcare. Presented by Cabot's portfolio management team: Rob Lutts, Les Satlow and Dennis Wassung, Jr. respectively.
These seminars are for discussion purposes only. It is not an offer to buy or sell individual securities or investments. Investors should consider their own individual investment objectives, risks, charges and expenses of their portfolio carefully before investing. Investments are not FDIC insured and may lose or fluctuate in value. Please request our Form ADV Part II for complete disclosures.
The Philippines experienced strong economic growth in 2012 of 6.6% GDP growth for the full year, led by strong household consumption. Other Asian economies also saw robust growth such as China at 7.7% and Indonesia at 6.2%. While government bureaucracies pose challenges to business according to rankings like the World Bank's Ease of Doing Business report, Asia is projected to continue anchoring global economic growth in the coming years due to large populations and emerging markets. The Philippines government should aim to sustain its high growth by reducing business costs and improving the bureaucratic environment.
The document discusses perspectives on the rising economic importance of Asia compared to Europe and Western economies. It notes that Asia's GDP share and middle class are growing significantly, while Western economies face challenges of slowing growth and aging populations. It also highlights several megatrends in Asia, such as rapid urbanization and a huge young population, that will drive further economic growth and make Asia the dominant global force by 2050. However, it cautions that Asia still faces its own issues to overcome and the future remains uncertain.
Spurred by substantial growth in key economies like India and China, Asia-Pacific has emerged as a sweet spot for global Venture Capital investors.While Asian governments' focus on favorable policy reforms and good governance has made APAC regions a hotbed for global venture capital, could rising valuations be a cause of concern for late-stage investors?
South Korea Consumer Trends Report by daxue consultingDaxue Consulting
After experiencing decades of rapid economic growth, South Korea has established itself as a trend-setting nation, with the Hallyu (Korea wave) spreading its pop culture worldwide. This report on South Korea consumer trends covers three key industries of beauty, food and beverage, and travel, along with retail and digital trends that shape not only what, but how Koreans consume.
Download to learn:
- How Korean demographics are changing, and the impact on consumption
- Household consumption trends and breakdown in Korea
- Societal changes and the dynamic between traditional culture and new ideas
- In-depth analysis of Kbeaty, F&B, and travel industries
- Deep dives into consumer ideology and trend-chasing
Key stats on Korean consumption:
- South Korea’s per capita GDP is $34,990 (USD), which is lower than Japan but higher than Spain
- Most household consumption is spent on food and beverage products, at 15.9%, followed by restaurants and hotels at 13.5%
- 27% of South Koreans live alone, which gives rise to convenience meals, single travel, and digital entertainment.
- As of 2020, 82% of South Koreans are urbanites (Compared to China’s 64.7% living in urban areas)
Kutumb Family indian economy unique strengths 2015Varadraj Bapat
Family and culture are major strengths of Indian Economy. Indian Economy has unique features like high savings, high share of small scale sector, role of gold .
Former Trade Minister of Indonesia H.E. Mr Gita Wirjawan delivered his Keynote Address on the second day of the 6th Asia Think Tank Summit organised by the Economic Research Institute for ASEAN and East Asia (ERIA) and the Think Tank and Civil Societies Program (TTCSP) of the University of Pennsylvania in Bali, Indonesia on 22 November 2018.
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Find out more about the scope of growth in India's logistics industry and how it supported by the E-commerce industry.
Learn about the impact of Covid on the E-commerce logistics industry in India and the trends in the industry.
Today marks the 20th anniversary of Spire, a dream turned reality with the support and contributions of Spire team. And thanks to all clients, partners and stakeholders who have been a part of this journey with us.
Spire wishes you a Happy Lunar New Year 2020!
May the year of the rat bring happiness, good health and good fortune to you and your loved ones.
#Spire #Chineselunarnewyear #Happiness #Longevity #Goodfortune #Joy #Family #Togetherness #YearoftheRat #Fortunecookies #Mooncakes
The document discusses digital marketing transformation. It outlines 7 phases of digital marketing transformation: 1) Incredible Business, 2) Trial, 3) Start Form, 4) New Direction, 5) Convergence, 6) Adaptation, and 7) Innovation. It also discusses basic concepts and benefits of digital marketing transformation, including connecting key pillars of actors, goods/services, and business to provide benefits. Additionally, it provides trends and examples of digital marketing in daily life.
Spire wishes everyone a Happy New Year 2020!
May the new year bring you warmth, love and light to guide your path
What is your resolution this year?
#HappyNewYear #Newbeginning #Warmth #Anewdawn #Newhopes #Familytime #Holiday #Year2020
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Vietnam has a fast growing digital economy and ICT sector, driven by strong GDP growth, increasing FDI, and government initiatives. The report identifies opportunities in fintech, e-commerce, smart cities, agriculture technology, and skills development to address workforce shortages as Vietnam prepares for Industry 4.0. However, Vietnam faces challenges around infrastructure investment, regulatory reforms, and developing technical skills to fully capitalize on these opportunities by 2025.
The document discusses trends in the Indian automotive and aftermarket industries. It provides an overview of the automotive market segmentation and key players. It then summarizes trends in the growing online automotive aftermarket, including the emergence of online marketplaces and platforms. The document also outlines new government regulations regarding vehicle safety and emissions standards. It concludes by noting India's goal of becoming a global hub for sourcing auto parts and the government initiatives taken to encourage growth in automotive components exports.
Spire wishes you all a very Happy Thanksgiving!
There is always, always something to be thankful for.
May this holiday season bring you peace, hope and health in abundance.
#Spire #Thanksgiving #Begrateful #Attitudeofgratitude #Abundance #Turkey #Feast #Family #Warmth #Bonding #Soulfood
Spire wishes you all a very happy and prosperous Diwali!
दीपावली की हार्दिक शुभ कामनाएं!
May this festival of light illuminate your life with happiness, prosperity and success.
What does Diwali mean to you?
#ShubhDiwali #Festivaloflights #Firecrackers #Familytime #Diyas #Triumphoflight #Divine #Mithai
Food is the fuel of body. On this day let us join hands and promise to donate food, stop wasting it and try to associate ourselves with causes related to helping others with food.
Can you beat the zero hunger challenge?
#StopWorldHunger #Stopfoodwastage #Donatefood #Savefood #Zerofoodchallenge
A time for festivity and the victory of good over evil.
May this auspicious day bring you luck, success and happiness.
#Spire #Dussehra #India #Burnawayevil #Goodtriumphs #Luck #Success #Happiness #Family #Celebration #Valor #Courage
We are reading today because our teachers took efforts while teaching us. These letters have meanings because of you teachers. We are thankful to you!
What is the first memory that you have of your teacher?
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Let us embrace and celebrate solidarity of all Malaysians with the hope that the dreams for a new tomorrow come true!
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How can we achieve communal harmony?
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A tryst with destiny, a long struggle for freedom and the sacrifices of freedom fighters commemorates India's independence.
How do you celebrate freedom?
#IndependenceDay #Freedom #Equality #Gloriousnation #SacrificesofFreedomFighters #73rd #Prosperity #Newbeginning #Struggleforfreedom
Share time together and return to your roots, together with the spirits that came before.
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The Strategy Implementation System offers a structured approach to translating stakeholder needs into actionable strategies using high-level and low-level scorecards. It involves stakeholder analysis, strategy decomposition, adoption of strategic frameworks like Balanced Scorecard or OKR, and alignment of goals, initiatives, and KPIs.
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In this webinar, we won't focus on the research methods for discovering user-needs. We will focus on synthesis of the needs we discover, communication and alignment tools, and how we operationalize addressing those needs.
Industry expert Scott Sehlhorst will:
• Introduce a taxonomy for user goals with real world examples
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[To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
This PowerPoint compilation offers a comprehensive overview of 20 leading innovation management frameworks and methodologies, selected for their broad applicability across various industries and organizational contexts. These frameworks are valuable resources for a wide range of users, including business professionals, educators, and consultants.
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This compilation is ideal for anyone looking to enhance their understanding of innovation management and drive meaningful change within their organization. Whether you aim to improve product development processes, enhance customer experiences, or drive digital transformation, these frameworks offer valuable insights and tools to help you achieve your goals.
INCLUDED FRAMEWORKS/MODELS:
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3. Strategyzer’s Business Model Innovation
4. Lean Startup Methodology
5. Agile Innovation Framework
6. Doblin’s Ten Types of Innovation
7. McKinsey’s Three Horizons of Growth
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9. Christensen’s Disruptive Innovation Theory
10. Blue Ocean Strategy
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12. Design Sprint Framework
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15. TRIZ Problem-Solving Framework
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19. Microsoft’s Digital Transformation Framework
20. Design for Six Sigma (DFSS)
To download this presentation, visit:
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080515_Financial Summit 2008_The New Wealthy in Asia
1. The New Wealthy in Asia
Prepared for: Financial Summit 2008
Prepared by: Spire Research & Consulting
Date: 15 May 2008
Prepared for: FASAP 2008 Date: 15 May 2008 Page 1
2. Aims of this talk
To describe the rise of the middle class in emerging
Asia – who, where, how much?
To analyze the context for middle class financial
planning
To assess the current state of play in terms of their
assets and financial holdings, and how this will
evolve
Prepared for: FASAP 2008 Date: 15 May 2008 Page 2
3. In gist
The middle class is a hotly contested label, with
different variations
“Middle income” wealth in emerging Asia is still far
below that of developing countries, but much of the
population and wealth growth is coming from this
region
High savings rates are a function of weak social safety
nets and risk adversity towards medical expenses,
unemployment, etc.
Assets in emerging Asia are primarily are skewed
towards home ownership and bank deposits
As social safety nets develop, and more financial
products become available, more investment will flow
towards equities and fixed income products, while
debt levels will probably rise
Prepared for: FASAP 2008 Date: 15 May 2008 Page 3
4. Emerging Asia – room to grow
The size of the middle class in emerging economies will be well over 1b
World population growth will be concentrated in
developing countries in the coming decades
In 2030 more than a billion people in developing
countries will buy cars, engage in international
tourism, demand world-class products, and
require international standards for higher
education
Currently, North America owns about a third of
the world’s wealth. Europe has a fraction less
with 30% and Asia-Pacific is close behind at 24%
This looks set to shift in Asia’s favor
Singapore, India and Indonesia are countries
with the world's fastest growing numbers of high
net worth individuals (HWIs)
Other Asian regions that have particularly fast-
growing numbers of wealthy residents are South
Korea and Hong Kong
Prepared for: FASAP 2008 Date: 15 May 2008 Page 4
5. By 2030, Asia will have >4b people
Asia is still growing rapidly from a low base
World population growth will be concentrated in developing countries in the coming
decades
In 2030 more than a billion people in developing countries will buy cars, engage in
international tourism, demand world-class products, and require international
standards for higher education
Prepared for: FASAP 2008 Date: 15 May 2008 Page 5
6. By 2030, Asia will have >4b people
Asia is still growing rapidly from a low base
Currently, North America owns about a third of the world’s wealth. Europe has a
fraction less with 30% and Asia-Pacific is close behind at 24%
This looks set to shift in Asia’s favor
Singapore, India and Indonesia are countries with the world's fastest growing
numbers of high net worth individuals (HWIs)
Other Asian regions that have particularly fast-growing numbers of wealthy residents
are South Korea and Hong Kong
Asia’s standing in the world, 2006 data
Region GDP (US$ billions) GDP per head US$ Annual growth 2000-2005
World 44.7 9,480 4.0
Developed
34.1 32,830 2.1
economies
Asia* 4 4,840 7.9
Source: EIU based on IMF data
*Note: Asia excludes Japan, Hong Kong, Singapore, Taiwan and South Korea
Prepared for: FASAP 2008 Date: 15 May 2008 Page 6
7. By 2030, Asia will have >4b people
Asia is still growing rapidly from a low base
As a general rule, a per capita annual income of US$5,000 is the threshold level at
which a person in Asia becomes a discretionary spender*
According to national statistics, more than 250 million people in Asia qualify right now – and
the number is expected to surpass 500 million by 2010
GDP in Asia, 2007
GDP per capita GDP
Country
(USD) (milllions of USD)
China 4,644 3,250,827
Hong Kong 39,062 206,707
India 2,469 1,098,945
Indonesia 3,454 432,944
S. Korea 22,988 957,053
Malaysia 12,536 148,940
Philippines 3,153 144,129
Singapore 44,707 161,349
Thailand 7,599 245,659
Vietnam 2,363 70,022
Japan 31,947 4,383,762
Sources: World Bank, IMF
*Yiannis G. Mostrous, Elliott H. Gue, Ivan D. Martchev , “Silk Road to Riches, The: How You Can Profit by Investing in Asia's Newfound Prosperity”, 27 Mar
2006
Prepared for: FASAP 2008 Date: 15 May 2008 Page 7
8. Fundamentals of Demand Growth
Asia-Pacific growth looks sustainable
Definition of middle-class: People at or above the equivalent of US$10 a day in 2005
and at or below the 90th percentile of the income distribution in their own country*
By 2030,1.3 billion in developing countries (15% of the world population) will belong
the global middle class, up from 400 million in 2005. Families of four in that class earn
between US$16,000 and US$68,000 in PPP dollars
This global middle class will participate actively in the marketplace, demand
world-class products and aspire to international standards of higher education –
they would be able to purchase automobiles, consumer durables and travel abroad
Prepared for: FASAP 2008 Date: 15 May 2008 Page 8
9. Asia’s Rising Middle Class
Sharp increase in East Asia & the Pacific
Definition of middle-class: People at or above the
equivalent of US$10 a day in 2005 and at or below
Population in low- and middle-income
the 90th percentile of the income distribution in countries earning US$4,000 – US$17,000
their own country* per capita (PPP)
By 2030,1.3 billion in developing countries (15% of
the world population) will belong the global
middle class, up from 400 million in 2005. Families
of four in that class earn between US$16,000 and
US$68,000 in PPP dollars
This global middle class will participate actively in
the marketplace, demand world-class products
and aspire to international standards of higher
education – they would be able to purchase
automobiles, consumer durables and travel
abroad
Source: World Bank calculations
* Birdsall, Nancy, ‘The Macroeconomic Foundations of Inclusive Middle-Class Growth’, 2020 Focus Brief on the World’s Poor and Hungry People, December 2007
Prepared for: FASAP 2008 Date: 15 May 2008 Page 9
10. Higher Incomes in Asia
By 2030, 40% of East Asia/Pacific’s population (>1b) will be in the top 8-10 deciles of
global income distribution, up from 20% now
Population of each region by deciles of global income distribution
Source: The International Bank for Reconstruction and Development / The World Bank, ‘Global Economic Prospects: Managing
the Next Wave of Globalization’
Prepared for: FASAP 2008 Date: 15 May 2008 Page 10
11. Tourism from Asia’s Middle Class
An indication of wealth
In 2004, 20% of all outbound tourism came from East and South Asia’s middle class
Tourism in 2004
Source: World Tourism Organization
Prepared for: FASAP 2008 Date: 15 May 2008 Page 11
12. Asia’s High Net Worth Individuals
The world’s High Net Worth Individuals (HNWI) grew to 9.5 million with their assets
rising to US$37.2 trillion in 2006
Asia-Pacific was home to five of the 10 fastest growing markets for HNWIs, including
Singapore, India and Indonesia, where the HNWI populations grew by 21.2%, 20.5%
and 16%, respectively, compared with the global HNWI expansion of 8.3%; Korea
and Hong Kong were also in the top 10 fastest growing markets globally
Source: World Wealth Report 2007, Merrill Source: Capgemini Lorenz curve analysis,
Lynch/Capgemini 2007
Prepared for: FASAP 2008 Date: 15 May 2008 Page 12
13. Asia’s High Net Worth Individuals
Asia-Pacific HNWI investments
Non-traditional investment products are gaining in popularity as Asian investors seek
better domestic returns and foreign institutions seek involvement in the high-growth
region
Within the region, asset allocation differed significantly from market to market
Australian HNWIs, for example, allocated 37% of their assets to equities, the highest level in
the region
Investors in China and Indonesia also had relatively high equity allocations
Investors in South Korea, on the other hand, allocated the largest percentage of their
portfolios to real estate
Asia-Pacific HNWIs are increasingly looking at internationalizing their investment
portfolios and, over the longer term, re-balancing their asset allocations in favor of
alternative investments, equities and fixed income
In addition, Asia-Pacific HNWIs are increasing their international exposure although still
maintain a very regional portfolio focus
Slightly more than half of Asia-Pacific HNWIs' assets were invested within the region and
slightly more than a quarter of their holdings were allocated to North America
Prepared for: FASAP 2008 Date: 15 May 2008 Page 13
14. Income Disparity in Asia
Income distribution is worsening
Asian income distribution is has generally been worsening since 1998 and in some
countries (e.g. China) is approaching Latin American levels
Percentage share of income or consumption
Country/Region Year Highest 20% Lowest 20% Gini Index
China 2001 46.6 5.9 44.7
Hong Kong 1996 50.7 5.3 43.4
India 2000 43.3 8.9 32.5
Indonesia 2002 43.3 8.4 34.3
S. Korea 1998 37.5 7.9 31.6
Malaysia 1997 54.3 4.4 49.2
Philippines 2000 52.3 5.4 46.1
Singapore 1998 49 5 42.5
Thailand 2000 50 6.1 43.2
Vietnam 2002 45.4 7.5 37
Japan 1993 35.7 10.6 24.9
Latin America 2000 56.8 3.55 n.a.
Europe* 2000 40.8 7.1 n.a.
U.S. 2000 45.4 5.2 40.8
*UK, Germany, France, Italy.
Source: Economist 2007 Source: World Bank, World Development Indicators 2005
Prepared for: FASAP 2008 Date: 15 May 2008 Page 14
15. Income Distribution
China and India have the most unequal income distribution
2001 Rising incomes,
especially in India and
% of Total Number of Household
China, points to a
positive outlook for future
consumerism.
Over the last decade,
~1% of India’s poor
graduate to join the
middle-income class
2005 annually.
% of Total Number of Household
• Using home and car
purchases as indicators,
the growth of the Chinese
middle class is said to be
even faster than the
economy’s overall
growth.
US$
Source: Global Market Information Database
Prepared for: FASAP 2008 Date: 15 May 2008 Page 15
16. Income Distribution
Income distribution in Japan highest among mature economies
2001
Developed countries
% of Total Number of Household
• A growing middle income
segment is also seen in
developed countries.
• Japan has a unique,
egalitarian income
distribution.
• On average, all AP
countries (emerging +
2005
developed) would have
% of Total Number of Household
the top 20% of the
population earning ~45%
of total private income
while the lowest 20% earns
only ~7%.
US$
Source: Global Market Information Database
Prepared for: FASAP 2008 Date: 15 May 2008 Page 16
17. Asia’s Financial Sector
The middle class in emerging Asia grapples with risk aversity
The tremendous promise for financial planning in Asia
comes from a combination of factors: the blistering
growth of its middle classes, the rapid ageing of its
population against a backdrop of weak social
security nets and a savings rate that far outstrips the
rest of the world
In China, middle class families by one measure
include about 130 million people, and their
purchasing power is close to that of the more
developed Asian economies
The household income for these families surpasses
US$24,000
Economists expect that another 40 million people will join
this group in the next decade
The constraint and opportunity for financial planning
comes from risk aversity among the more broad
middle class segment….
…stemming from concerns over medical expenses, a
relative lack of insurance products, an aging trend and a
small/falling number of children
Prepared for: FASAP 2008 Date: 15 May 2008 Page 17
18. Marketing Trends
The silver haired (>50 years) population is Asia’s segment of the future
21-24% of the population are aged >50 in China, Korea, Taiwan, Thailand &
Singapore in 2005 (30% in Australia & Hong Kong) – the silver hair segment is
substantial
In AP, 77% of international companies have no silver hair strategy, but one third of
those 77% plan to rectify this in 3-5 years time
Among AP companies, Japan is seen as having the most silver hair potential
followed by China
Asia Pacific’s demographic transformation
Percentage of population
aged 50 and above
100
90
80
70 59
53 57
60 50 52
48
45 46 43 45
50 >40 40 42 38 39
37 33 37
40 30 30 30 31
24 24 28 24
30 22 23 23 21 20
15 16 15
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Source: US Census Bureau 2005 2030 2050
Prepared for: FASAP 2008 Date: 15 May 2008 Page 18
19. Asia’s Finances
As at 2003, the savings rates in Indonesia (28%), India (22%) and China (16%) are
very high by global standards
Changes in household savings in Asia (1980 – 2000)
Source: World Bank, World Development Indicators
Prepared for: FASAP 2008 Date: 15 May 2008 Page 19
20. Asia’s Asset Ownership Profile
Asset profiles consist mainly of real property. However, Japan and China have a
higher share of financial assets aside versus real property as compared with India
and Indonesia
In Asia, Japan is the largest contributor to the overall REIT market capitalization with
64% share of the pie. This is followed by Singapore (19%) and Hong Kong (13%)
Asset Composition in Selected Countries
Source: The World Distribution of Household Wealth’, World Institute for Development Economics
Research of the United Nations University
Prepared for: FASAP 2008 Date: 15 May 2008 Page 20
21. Asia’s Financial Wealth Profile
Financial wealth is mostly held in savings accounts
Savings account feature strongly in transition economies and in rich Asian
economies (Japan, Singapore, Taiwan, and South Korea)
With the exception of Taiwan, Asian countries tend to be conservative when
investing in shares and equities.
Composition of financial wealth in selected developed countries
Source: The World Distribution of Household Wealth’, World Institute for Development Economics Research of
the United Nations University
Prepared for: FASAP 2008 Date: 15 May 2008 Page 21
22. Asia’s Investment Landscape
Asia accounts for roughly one-third of global GDP in PPP terms, and one-fourth of
global exports, but only 13% of the global equity market.
2004 bank deposits were approximately 180% of GDP in China, 50% in India and 40%
in Indonesia.
Bank heavy
Investments composition
Asia still depends too much on bank financing.
(percent of GDP)
Bank deposits Equity market Bond market
1990 2004 1990 2004 1990 2004
China 75.6 177.8 n.a. 40.3 8.5 29.4
Kong 205.6 299.3 107.2 486.3 1.5 28.3
Kong SAR
India 31.4 51.1 10.4 48.4 19.9 31.7
Indonesia 29.8 38.9 4.4 24.9 0.4 24.1
Japan 100 120.5 121.7 73.2 85.9 181.6
Korea 32.6 68.8 48.2 56.1 34.1 74.9
Malaysia 52.1 88.7 100 152.6 69.8 89.3
Singapore 74.3 104.4 95.8 149 27.8 58.6
Thailand 56.8 79.7 29.2 72.3 9.7 38.9
Germany 53.8 96.7 21.7 42.2 51.6 80.3
United 87.8 115 85.2 123 36.8 43.9
Kingdom
United 59.6 58.8 57.5 131.6 122 157.2
States
Europe 42.1 86.8 52.3 72.1 65.9 88.8
Source: CEIC data; World Bank, FinancialFinancial set (February 2006). (Feb 2006)
Sources:
CEIC data, World Bank, Sector data Sector data set
Note: n.a. denotes not available.
Prepared for: FASAP 2008 Date: 15 May 2008 Page 22
23. Asia’s Investment Landscape
The bond market in Asia ex-Japan is considerably shallower than in the EU and US –
accounting for only 45% of GDP, half the size of the EU bond markets.
Bond markets of the world
Source: The Art of Reform. Andrew Sheng, Finance & Development, June 2006. Volume 43, Number 2.
Prepared for: FASAP 2008 Date: 15 May 2008 Page 23
24. Asia’s Consumers Credits
Credit can increase consumption under the most
difficult circumstances
Between 2001 and 2005, the US consumer was able to
spend not because income increased, but because
prices of goods decreased and credit was readily
available
Even the rise in housing prices, which allowed
consumers to borrow against their house value in order
to spend, was the consequence of the Federal
Reserve’s extremely loose monetary policy
The more advanced economies in Asia (for example,
South Korea, Hong Kong, Singapore) have greater
penetration levels than those of less developed ones
like China and India
Credit penetration grows, with complex effects on risk
aversity and financial investment patterns
Prepared for: FASAP 2008 Date: 15 May 2008 Page 24
25. IT Trends
Page views per user are highest in Korea, Taiwan and Hong KongMortgage
lending has been rising rapidly in the Asian region - most have seen the stock
of real housing credit double since 1999
Growth in the housing lending have been pushed by changes in the housing
lending market, like outright introduction of mortgage products in China,
longer-dated mortgages in Thailand and Korea, and the introduction of private
mortgage insurance in Hong Kong SAR
Housing Loans in Asia (in percent)
Prepared for: FASAP 2008 Date: 15 May 2008 Page 25
26. The Debt Picture in Asia
Housing loans make up the bulk of debt
Asians tend to feel secure only with a roof over their heads
Korean internet users view the most number of pages (approximately twice as
many pages as the regional average of 2,171 pages per user).
More focused and selective online presence should be employed to reach out
to the Australian, New Zealand and Malaysian consumers as they tend to
dedicate more time to viewing fewer pages.
Online Page Viewing May 2007*
User
Ave Minutes Spent Per Page View Per
6,000 1.00
Ave Monthly Pages Viewed Per
Ave Monthly PAGES Viewed Per User 0.90
Ave Minutes Spent Per Page Viewed Per User
5,000 0.80
4,000 0.70
0.60
3,000 0.50
0.40
2,000 0.30
0.20
1,000
0.10
User
- -
CN IN MY HK JP SG S.KR TW AUS NZ
Prepared for: FASAP 2008 Date: 15 May 2008 Page 26
27. Considerations on Asia’s wealth management market
Asia-Pacific is the fastest-growing wealth management market in the world
Asia’s middle classes live with risk aversity due to weak social safety nets, an ageing
population and a small number of children
Savings accounts tend to be favored in Asian countries because of risk aversity and
a lack of confidence in financial markets, but this is changing
Debt levels and financial investment in non-bank deposits will certainly grow, in both
cases driven by rising incomes and increasing availability of financial products
The pace of liberalization of investment rules in Asia will remain highly uneven
Asia’s ageing population will increasingly have a positive impact on share market
valuations, as those approaching retirement save more of their incomes, putting
some into equities
With high broadband penetrations and the cultural impact of E-communities, the
internet as a channel, marketing platform and interactivity tool for financial
investment may become critical in Asia, as the Taiwanese example shows
Prepared for: FASAP 2008 Date: 15 May 2008 Page 27