Bernstein analysts are predicting the number of China’s Premium Consumer Class (PPC) to increase nearly two fold over the next seven years, reaching 117 million.
The estimates was made its in latest “China Consumer: Where to Play, How to Win… Premium Is The New Mainstream,” report, which was released on Tuesday.
The 117 million forecasted for 2025 is a stark increase from 68 million PPC in 2017, which Bernstein says is akin to “roughly equivalent to the total population of France growing to that of Mexico.”
Bernstein added that the 7 percent forecasted CAGR for PPCs is twice as high as the growth forecasted for the middle-class in China.
Among the winners of this growth will be Melco and Galaxy when it comes to gaming, and Marriott in luxury hotels, said the brokerage.
This Dossier results from the “Life After POGOs” editorial project by Asia Gaming Brief which culminated with a pop-up digital forum on 9th December to discuss potentials ramifications in the industry.
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Over the years, many of the answers have been remarkably prescient in their forecasts for the near-term direction of Asia’s gaming industry. However, we can safely say that no one came anywhere close to guessing
what 2020 may have had in store.
While nowhere in the world has escaped the economic fallout from the Covid-19 crisis, Macau has been hit harder than most, with forecasts for gross domestic product to shrink more than 50 percent this year.
Before the Covid-19 crisis, tourism in the Greater Mekong Sub-Region was at a record high, on track to welcome 80 million visitors in 2019, generating some $90 billion in revenue.
