Accéder au contenu principal

AFRICA IS IT THE NEW FRONTIER FOR THE LUXURY INDUSTRY?

Asked whether Africa is the new frontier for the luxury industry, we would be tempted to say yes.



Growth rates have continued to considerable flew Saharan Africa oscillating between 5% and 7% for a little over a decade.These sustained growth rate, combined with favorable economic policies boosted consumption and given birth to an African middle class.The latter is defined as the share of the population earning between $ 2 and $ 20 per day.The number of individuals related to the African middle class will increase from 355 million people (34% of the population) to 1.1 billion (42% of the population) by 2060.


Nevertheless, 60% of individuals of the middle class in Africa (around 180 million people) are not far from the poverty line: they form "the floating class" composed of individuals earning between $ 2 and $ 4 per day.The latter are in a vulnerable position and may at any time of falling back into poverty if an unexpected shock occurs: in case of loss of income source where the death of the family head.


Middle class consumer spending reached an estimated $ 680 billion in 2008, ie almost a quarter of Africa's GDP.By 2030, this figure is expected to reach $ 2,200 billion.While Africa represents about 3% of world consumption.

All these elements put together, could augur the birth of perin luxury market in Africa.Especially, with the slowdown recorded in European economies, American and Asian.It would not be surprising to see more and more, high luxury home such as L'Oreal and Lancôme to name those there, installed in African land.


We must not fail to report the birth of a new generation of African entrepreneur in the luxury sector: Okapi, Heel The World (HTW), YSWARA etc ...These signs are definitely the event of the emergence of a new consumer class in Africa.It is obviously part of the famous African middle class, which for some who already had the privilege of visiting the great European capitals that are along the temples of luxury, would have to do the same in the West encountered quality service.


The fact remains that the luxury industry in Africa is still embryonic but promising.And it accomplishes its full potential would require that growth inclusive silk and that policies related to the emergence of the middle classes are strengthened.


-Frédéric Betta-Akwa

Commentaires

Posts les plus consultés de ce blog

THE MIDDLE CLASSES IN AFRICA.

The latest high growth rates recorded by the continent these15 years, gave birth to a new class called individual : the middle class. This would be typical of those earning between 2 and 20 dollars per day and is expected to increase from 355 million people (34% of the population) to 1.1 billion (42% of the population) by 2060 . However, much of the African middle class ( around 180 million people) flirt the poverty line. .Because , Who have not yet acquired the necessary financial stability , allowing him to get out of poverty permanently ( between 2 and 4 dollars per day gain).   This fringe of the African population would have a major role to play in the respective economies continent.Its consumer spending reached an estimated $ 680 billion in 2008. T o say , almost a quarter of the GDP of Africa.   By 2030, this figure is expected to reach 2.200 billion dollars , Africa would represent about 3% of world consump

LES CLASSES MOYENNES EN AFRIQUE.

Les forts taux de croissance enregistrés  par le continent africain ces15 dernières années, ont donné naissance à une nouvelle catégorie d'individu dénommée: la classe moyenne.Celle-ci, serait caractérisée par des personnes gagnant entre 2 et 20 Dollars par jour et devrait passer de 355 millions de personne (34% de la population) à 1,1 milliard (42% de la population) d'ici à 2060. Cependant, une grande partie de la classe moyenne africaine (autour de 180.000.000 de personnes) fleurte  avec le seuil de pauvreté.Car, n'ayant pas encore acquis la stabilité financière nécessaire, lui permettant de sortir  définitivement de la pauvreté (entre 2 et 4 Dollars par jour de gain). Cette frange, de la population africaine aurait un rôle majeur  à jouer dans les économies respectives du continent.Ses dépenses de consommation ont atteint un montant estimé à 680 milliards de Dollars en 2008.C'est à dire, quasiment le quart du PIB de l'Afrique. D'ici 2030, ce chiff

LES FREINS A LA BANCARISATION EN AFRIQUE.

L'adoption des services bancaires proposés par les institutions financières, n'est pas monnaie courante en Afrique, en témoignent les chiffres suivants:Moins de 10% des populations sur le continent,soit environ 10.000.000 de personnes sont bancarisées.Et selon les analystes, il s'agit du taux de bancarisation le plus bas au monde.C'est dans cette optique, que nous nous sommes penchés sur les causes de ce phénomène qui, constitue une véritable entrave au développement économique du continent. L'absence de volonté politique Les décideurs à travers le continent, semblent peu prompts à faciliter l'installation et l'accessibilité des banques au travers d'une législation et des dispositifs adéquats. La tradition Le poids des traditions est tel que, la confiance des populations à l'égard du système bancaire est proche du néant.L'habitude des fameuses "tontines",ces sortes d'ancêtres du microcrédit continuent d'êtr