Page 14 - myanmar

SPOTLIGHT ON
ENTERING MYANMAR – 10 KEY TAKE AWAYS
1 Incomes in Myanmar are low, not just by world standards but also in comparison to neighboring markets. A huge percentage of the workforce is occupied in the inefficient agriculture sector on low incomes. But if economic reforms continue
and investment and aid follow, increasing numbers of people will be able to move into the expanding service and manufacturing sectors. As incomes and opportunities increase, a middle class is beginning to emerge and is forecast to swell to more than 10 million people – 15 per cent of the population – by 2020. These are the people who will be in the market for restaurant meals, fashion brands, skin care products and home appliances - and, ultimately, cars and holidays. Now is the opportunity for brands to make an impression, not just on people who are ready to buy now, but on those who are still on their way up.
THE MIDDLE CLASS IS COMING
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