Bangladesh to become 9th by 2030: HSBC

HSBCReuters file photo

With the fastest growing market, Bangladesh will become the 9th largest consumer market globally, overtaking Germany and the UK by 2030, HSBC Global Research report shows.

Bangladesh is expected to see the fastest growth in its consumer market in the current decade followed by India, the Philippines, Vietnam and Indonesia.

Korea and Japan will see a drop in the overall market by 2030, said the Hongkong and Shanghai Banking Corporation (HSBC) on Wednesday.

According to the report, Asia will become the dominant player in global consumer markets; Indonesia will overtake Brazil as the fourth-largest consumer market, after China, India, and the US.