By 2030 Indonesia could become the fourth-largest economy in the world ranked by nominal GDP at purchasing power parity based on the projections of several global institutions. The same year is predicted to coincide with the peak of Indonesia’s demographic bonus when the population of productive age will be at its highest both in terms of numbers as well as a proportion of the overall population as Indonesia’s current younger generation enter the work-force in significant numbers. Harnessing their productivity and contribution as they enter the workforce will be an important driver of Indonesia’s future economic activity as well as ensuring the growth in consumer demand which is today and into the future, an important part of the country’s GDP. Already making their presence felt as consumers with distinctive characteristics as compared to earlier generations, this high proportion of Millennials to the overall population will bring these emerging trends into greater focus as their purchasing power will become the dominant contributor to overall domestic consumption.
This story is from the October 2020 edition of Forbes Indonesia.
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This story is from the October 2020 edition of Forbes Indonesia.
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