In 2015, The Asia Pacific Region was home to 46% of the world’s middle class.
We believe that by 2030 that figure will have grown to nearer 65% for three simple reasons:
We aim to invest in the best companies globally that are exposed to this growth in wealth, either though strong brands, technology or by being in industries with high barriers to entry.
The Global Middle Class in 2015 and a prediction for 2030
Source: Brookings Institution
We don’t invest in well developed countries like Korea, Taiwan, Hong Kong or Singapore whose growth is driven by exports. Our focus is in the developing economies where growth in spending is shifting from necessities to discretionary items and services. Emerging Asia is where this tectonic shift in consumption is happening, creating a great environment for us to invest.
1 World Bank 2 World bank 3 UN report