Breaking into the consumer class

The transition into the middle classes is a major growth catalyst in emerging markets, but the population shift will take time to unfold. Mark Yockey, and Charles-Henri Hamker, portfolio managers on the global equity team at Artisan Partners, explain

The transition into the middle classes is a major growth catalyst in emerging markets, but the population shift will take time to unfold. Mark Yockey, and Charles-Henri Hamker, portfolio managers on the global equity team at Artisan Partners, explain

China Tourism and internet In China, the middle class movement is partially driven by the country's transition from an export-led economy to a consumer-focused one - a move spelled out by the government's 12th Five-Year Plan in 2011. The resulting policy initiatives were meant to stimulate private consumption, and many consider them to be a key catalyst for the growth of China's emerging middle-class population. As Chinese consumers move along the income spectrum, tourism, travel, and leisure activities become more accessible. Growing disposable incomes, increasing urbanisation, a...