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Indonesian Middle and Affluent Classes to Double, Report Says: Southeast Asia Real Time

posted Mar 6, 2013, 8:57 PM by Unknown user
The size of Indonesia’s middle and affluent class is likely to double to more than 141 million people in the next seven years, according to a report released Wednesday by the Boston Consulting Group.

BCG is the latest international firm to voice optimism about the future of Southeast Asia’s largest economy.

Today around 74 million out of Indonesia’s 250 million people live in households that spend more than $200 a month, making them middle or upper class, BCG said. That figure is set to soar to 141 million by 2020, it said.

That would be the biggest boom anywhere in the world outside of China and India, with more than 8 million people each year likely to enter the consumer class as Indonesia’s economy grows, BCG.

“The universe of middle class and affluent consumers in Indonesia is growing in size and purchasing power, making the country a compelling opportunity for both local operators and multinational corporations over the coming decade,” the report said.