The ConsuMEA growth compass

The Middle East and Africa (MEA) present a large and growing opportunity for fast-moving consumer goods (FMCG) companies and retailers. Over the next five years, consumers in the region’s 69 countries are forecast to generate a total of $400 billion in revenue for these players. The region’s total population of about 1.4 billion is growing three times faster than the global average. In 2008, the combined GDP of MEA countries was nearly $4.16 trillion, on par with China. MEA’s real GDP growth—with a compound annual growth rate of approximately 5.1 percent from 2002 through 2009—has been on par with Russia and significantly higher than that of developed countries and even Brazil. Income per capita is also growing, as is employment, which has had a positive correlation with GDP per capita and productivity for nearly 10 years (a turnaround from the prior decade). The entrance of more women into the workforce has also been promoting a consumer culture.