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Investor Presentaiton

Megatrend 2 Burgeoning middle classes By 2020, 54 per cent of the world's population will be in the middle class, up from 27 per cent in 2009.19 The Asia-Pacific region is projected to be home to two-thirds of the world's middle class, a total of 3.2 billion people by 203020 (see Figure 4). Premium-quality products Asia's middle class is demanding high-quality goods and services and is willing to pay premium prices for safe, clean, green and premium-quality food products. In view of Queensland's reputation as a producer of quality foods and its proximity to Asia, the state is well placed to take advantage of this rising demand. Asian consumers regard Australian dairy products and beef as safe and of excellent quality. Fresh Australian horticultural products flown directly to China are making inroads into the Chinese market, especially around Chinese New Year. Tourism The increasing affluence of Asia's population will drive demand in Queensland tourism, with wealthy visitors seeking attractive destinations, cultural experiences, luxury accommodation and high-quality service. China represents huge potential as a source market. Although Australia now hosts one million Chinese tourists a year, 21 this represents only a small fraction of the Chinese tourists travelling abroad annually. Education and training As wealth increases globally, individuals are seeking quality education and training from reputable institutions to improve their employability and earning capacity. The IET industry is one of the fastest growing industries globally. Australian onshore international student enrolments are projected to grow by 3.6 per cent annually.22 Two-thirds of Australia's growth in IET is expected to come from the Asia-Pacific region. Parents in Asia generally regard Australia as a safe place to send their children to study. 23 Queensland also has time-zone advantages over Europe and North America that enable parents from the region to more easily communicate with and visit their children. By 2020 of the world's 54% population will be in the middle class, up from 27% in 2009 Figure 4: Size of middle class by region24 (%) 100 80 28% 60 54% Asia- Pacific 66% 40 20 о 2009 2020 2030 North America Europe Sub-Saharan Asia-Pacific Africa Central and South America Middle East and North Africa Queensland Trade and Investment Strategy 2017-2022 17
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