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 17View entire presentation