Consumers are optimistic in key emerging countries

Higher income expectations, healthy savings and rising aspirations will fuel consumer spending in 2011, according to a new Credit Suisse survey of seven emerging markets.

Consumers in key emerging countries are optimistic about their own prospects this year, sustained by real income growth in most of these markets, and buttressed by high savings levels in some. Discretionary spending will continue to rise among the wealthy, but international brands will be the beneficiaries yet, local firms will prosper from strong demand for essential goods and services. Meanwhile, income disparities will widen further.

These were the main conclusions of Credit Suisse’s inaugural Emerging Consumer Survey released yesterday.

The survey explored the spending profiles of consumers within the four Bric markets of Brazil, Russia, India and China, as well as Egypt, Indonesia and Saudi Arabia. These consumers represent over 3 billion...

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