Demographics CEO Clint Laurent makes a convincing case that growth is no longer about the young. He calculates that 45% of the growth in spending power in the past 10 years has come from the “old affluent” population group.
This encompasses those 40 years and older in North America, Western Europe and developed Asia (Japan, Singapore, Hong Kong, Australia and South Korea). More startling is that he believes this will hold true for the next 10 years.
SA doesn’t face an ageing population. Indeed, Africa, India and the Middle East are the only regions in the world where the proportion of the population under 24 will expand over the next 20 years.
Source: Financial Mail