Emerging economies remain bullish

Consumers in some of the world's biggest emerging markets remain bullish despite slowing economic growth and market volatility, according to a report released on Nov 28 by Boston Consulting Group.

The report said recent economic challenges are prompting many consumers in Brazil, China and India to trim their spending plans in the near future, though consumer spending in these rapidly developing economies is still growing faster than in developed economies.

It said consumers in rapidly developing countries feel far more financially secure and confident over the long term than people in richer - but less dynamic - developed economies.

Nearly 72 percent of respondents in Brazil, China and India said they are optimistic about the future. In contrast, only 48 percent of consumers surveyed in developed economies said they were optimistic.

“Even though we expect some bumps in emerging markets for at least the next year, the overall picture remains buoyant for the longer term,” said Jeff Walters, a BCG partner and a co-author of the report. “Rapidly developing economies will continue to offer some of the world's greatest growth opportunities for companies selling consumer goods and services across a broad range of categories.”