Apparel and beauty firms are eager to find new global markets with burgeoning fashionistas, especially in the all-important Far East. With Japan’s economy recovering slowly, the hunt is on for the next big...
Apparel and beauty firms are eager to find new global markets with burgeoning fashionistas, especially in the all-important Far East. With Japan’s economy recovering slowly, the hunt is on for the next big spenders. No one in the region matches Japan’s per capita spending of $24,900 in 2000, but there may be other opportunities. Meanwhile, growth in the developed West remains modest.
The 10 advanced countries with the fastest growing economies(Measured in percentage increase of gross domestic product or GDP)
Ireland’s economic growth has consistently been among the highest of the Organization for Economic Cooperation and Development countries. Credit the favorable demographics and young population. Per capita spending in 2000: $21,600.
Before Greece dumped the drachma for the euro, the country was plagued by high inflation. The new currency forced the government to balance the budget and slash the deficit. Per capita spending in 2000: $17,200.
Luxembourg has a stable, high-income economy and an industrial sector dominated by steel. The country is one of the most successful in the world at attracting foreign investors. Per capita spending in 2000: $36,400
Since 1996, the year pro-business President Jose Maria Aznar came into office, Spain’s economy has grown faster than that of any large EU nation and consumer spending increased. Per capita purchasing power in 2000: $18,000.
Australia’s economy emerged virtually unscathed from the crisis that engulfed the Asia-Pacific region in the late Nineties. Deregulation spurred productivity and growth without igniting inflation. Per capita spending in 2000: $23,200
The country’s heavy dependence on trade leaves it vulnerable to economic conditions in other parts of the world, so the government is trying to improve ties with large market countries like the U.S. Per capita purchasing power in 2000: $17,700.
There was strong consumer spending in the first three quarters of 2001, but that confidence began to wane in the fourth quarter. The French aren’t ready to give up their croissants and couture yet, however. Per capita spending in 2000: $24,400.
Fiat’s troubles are Italy’s troubles. The ailing car manufacturer dominates Italy’s economy, accounting for 5 percent of the gross domestic product and 25 percent of sector workers. Per capita spending in 2000: $22,100.
Every fashion company dreams of tapping the market in China — the world’s fourth-largest trading power. Shanghai has 17 million trend-conscious and affluent consumers. Per capita spending in 2000: $12,000.
The former Communist country has embraced a market-based consumer-driven economy. Consumers are hooked on a localized version of "Wheel of Fortune" and city-dwellers carry cell phones.Per capita spending in 2000: $1,900.
Myanmar’s long-term economic prospects are good due to the country’s broad range of natural resources. Problems include political instability with charges of sweatshop labor. Per capita spending in 2000: $1,500.
Economic growth in Indonesia is fueled by the expansion of agricultural output and healthy domestic spending.Luxury boutiques and fancy new cars in Jakarta attest to the strong consumer demand. Per capita spending in 2000: $2,900.
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