IDEX Online Research: Long Term Growth Prospects Bright for Global Jewelry MarketAugust 16, 12
(IDEX Online News) – Dire predictions about a severe decline in Europe’s population over the next several decades have been revised to show that the number of people in the region will drop only modestly – from 740 million today to about 732 million 2050, according to newly revised forecasts from the Population Reference Bureau (PRB).
That’s good news for jewelers who had been worried a significant decline in demand in this geopolitical area due to an aging population on fixed incomes as well as due to few younger people coming of age to buy engagement rings
There’s even better news: the population of the 27 countries that comprise the European Union – where the wealth of the region is concentrated – is expected to remain about stable for the foreseeable future, according to PRB forecasters, despite an aging population.
Population Gains Expected For Developing Countries
Global population grew to 7.06 billion in mid-2012, after passing the 7 billion mark in 2011. Developing countries accounted for 97 percent of this growth because of the dual impact of high birth rates and young populations. In contrast, developed countries experienced a birth rate that was barely above the death rate.
Among the developing countries – mostly in Africa along with a few in
Among eastern countries, both
Eastern Europe and
Long Term Plan for Jewelers: Follow the Money First
It would be easy for jewelers to simply watch population trends, as they plan for their business longer term. However, that could be a mistake. Africa might look like an emerging market due to its rapid population growth, but many of them barely have enough money to feed themselves, much less purchase discretionary goods such as jewelry.
IDEX Online Research continues to focus on the wealthy and emerging wealthy countries of
The table below summarizes the PRB’s forecast for population for the most populous countries in the world over the next several decades. Sometime in the next ten years,
Population Clock 2012
For those readers who like trivia, the PRB has provided a “Population Clock” for the world. This table summarizes the number of births and deaths per minute in the world, along with other information about the population.