Bernstein analysts are predicting the number of China’s premium consumer class 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 premium consumer class 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 compound annual growth rate for the premium consumer class 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. (AGB)