Global Consumer Spending to Jump by $12 Trillion This Decade

Global spending on goods and services is forecast to grow from $28 trillion real US dollars in 2010 to an estimated $40 trillion in 2020, a $12 trillion rise after accounting for inflation, according to an A.T. Kearney study released in May 2012. This represents a 43% growth estimate, far more aggressive than the 27% growth from 2000 to 2010 and 22% growth from 1990 to 2000. The US is expected to be a prominent driver of the additional spending this decade, accounting for one-quarter of the $12 trillion in new spending, with China (19%) also a significant contributor. (more…)