Pakistan's Middle Class Consumer Population Among World's Fastest Growing
Although the rate of growth has slowed since 2018, Pakistan's middle class consumer population still remains among the fastest growing in the world. In a report titled " Emerging Markets Transforming As Velocity Markets ", Ogilvy and Mather, a global market communications firm, has put Pakistan among what it calls "Velocity 12" group of economies that include Bangladesh, Brazil, China, Egypt, India, Indonesia, Mexico, Myanmar, Nigeria, Pakistan, Philippines and Vietnam. The term velocity describes both the rate of real change in the size of the middle class as well as a priority for companies as they consider business investment and marketing in V12 countries. These 12 countries will be the biggest contributors to the next billion middle class consumers, according to the report. The Velocity 12 report says that this next billion middle-class group will: 1. Be increasingly defined by women and youth as the change agents, with purchasing power crossing cultur...