BRIC Panel Discussion. Garry White, Regional Director APMEA 13 th September 2010. The Growing Power of BRIC. 42% of the global population 1/4 of the global economy 8 megacities 55mil outbound trips in a year 2mil High Net Worth Individuals
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Garry White, Regional Director APMEA
13th September 2010
6.5%growth rate (f) next year versus 0.5% in developed markets (IMF)
$1.3trillion GDP –
High net Worth
198mil population –5thlargest in the world
80% of booking for outbound travellers go through travel agents
Russians are high-spenders: Russians spend on average $1,000 per head on their holidays.
12thlargest economy and
7th largest by purchasing power parity
The wealthiest of the BRICS
The number of Russian passengers traveling abroad soared by 38% in the first 4 months of 2010 – rising to approximately
1.5 million people.
GDP increasing by more than 8%
India achieved 6.4% GDP growth in 2009, despite the global economic crisis.
Could be a million visitor market to the UK by 2020
India’s middle class predicted to grow from 5% today to over 40% of the nation over the next 20 years.
Outbound market size of 7.8 million
Up to95%of booking for outbound travellers go through travel agentsINDIA
DEBI BANGALORE MAY 2011
2ndbiggest economy in the world
1.3 billion– home to the world’s largest population
89% increase in visitors to the UK by 2014
Urban Chinese middle class will spend close to $2.3 trillion a year by 2025
Young Singles are the new dynamic consumers
45 millionoutbound visits forecasted between 2010 and 2020
425airports in China
Foreign Policy Speech, July 2010
“We will be intensifying our engagement with the emerging economies… economic power and economic opportunity are shifting to the countries of the East and South; to the emerging powers of Brazil, India, China, Russia and other parts of Asia… it is estimated that by 2050 emerging economies will be up to 50% larger than those of the current G7”
Grants for Sales Mission and Exhibitions
400,000 overseas students per year in the UK
In India 250 million school and university-aged students learning English - that’s four times the entire pop of the UK!
85,000 Chinese students currently studying in UK or at UK campus in China
14,000number of outbound travel agents in BRIC
78% named travel agents as key influencer of travel decisions in
Russia, India, Brazil, China
85% of travel bookings in BRIC are booked through travel agents
SEA South Korea
Manager Latin America