{"id":640168,"date":"2024-08-21T00:00:00","date_gmt":"2024-08-21T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/08\/21\/the-next-bn-gen-z-and-the-middle-class-driving-cemeas-growth\/"},"modified":"2024-08-21T00:00:00","modified_gmt":"2024-08-21T00:00:00","slug":"the-next-bn-gen-z-and-the-middle-class-driving-cemeas-growth","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/08\/21\/the-next-bn-gen-z-and-the-middle-class-driving-cemeas-growth\/","title":{"rendered":"The next bn: Gen Z and the middle class driving CEMEA's growth"},"content":{"rendered":"

With the worl<\/strong>d\u2019s po<\/strong>pulation soaring past 8 bn<\/strong>, Gen Z is shaping the future economic outlook. Fueled by a growing middle class, the demographics of Central and Eastern Europe, Middle East and Africa (CEMEA) are set for new opportunities.<\/p>\n

Globally and regionally, economic outlooks signal a quicker slowdown in spending.<\/strong> In CEMEA, Sub-Saharan Africa (SSA) faces currency pressures, with South Africa, Ghana and Nigeria slipping against the dollar. North Africa, the Levant and Pakistan (NALP) are struggling with cost-of-living challenges and high inflation, especially in Egypt and Pakistan. However, the Commonwealth of Independent States and South and Eastern Europe (CISSEE) are seeing recovery, with Ukraine\u2019s rebound contributing to a second consecutive year of economic growth in 2024. The Gulf Cooperation Council (GCC) benefits from elevated energy prices and thriving inbound tourism.<\/p>\n

Two key demographics will drive long-term growth<\/strong>; a rising Gen Z, who, along with millennials, make up over half the world\u2019s population, and the middle class, which constitutes almost two-thirds of total private consumption.<\/p>\n

As Gen Z fuels future growth, CEMEA stands to gain. <\/strong>Gen Z\u2019s spending share is set to double every five years, skyrocketing from 4% in 2022 to 23% by 2035, marking the sole significant spending boost among generations.<\/p>\n

Without a current Gen Z strategy, you're losing share, interest, and relevance. <\/strong>The generation prioritizes entrepreneurship, financial focus, cultural pride and digital literacy, with social media shaping their attitudes and interests. Gen Z values seamless digital payment solutions and brands that build engaging customer communities. Falling in line with that desire for a personalized experience, convenience and control of payments are also crucial.<\/p>\n

CEMEA benefits from its growing middle class, alongside its Gen Z cohort. <\/strong>By 2030, Africa and the Middle East will see rapid middle-class growth \u2014 43% and 39%, respectively. With a large youth population and shifting working-age demographics, domestic spending will rise, reflecting trends in Europe and North America, as more middle-class households tap into electronics, appliances, and travel.<\/p>\n

In the long run, these demographics are vital. <\/strong>By 2026, one in four Gen-Zers will be in CEMEA, versus one in ten in North America and one in five in Europe. CEMEA will, as a result, fuel a larger share of growth in real personal consumption until 2035, positioning it for further growth as opposed to countries supported by a rising middle class. This region is primed to seize the opportunities ahead.<\/p>\n","protected":false},"excerpt":{"rendered":"

With the world\u2019s population soaring past 8 bn, Gen Z is shaping the future economic outlook. Fueled by a growing middle class, the demographics of Central and Eastern Europe, Middle East and Africa (CEMEA) are set for new opportunities. Globally and regionally, economic outlooks signal a quicker slowdown in spending. In CEMEA, Sub-Saharan Africa (SSA) […]<\/p>\n","protected":false},"author":1,"featured_media":640169,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7374],"tags":[7373,72,666],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-640168","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-a-message-from-visa","tag-a-message-from-visa","tag-enterpriseam","tag-visa","wpautop","entry"],"acf":{"mongo_id":"0eccd91d-8de8-40d8-93df-6e2daa18548b","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/8\/1773.jpg","photo_position":"above","homepage_title":"","full_issue_title":"The next bn: Gen Z and the middle class driving CEMEA's growth","related_issue":[640158],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/8\/.e73fa2b4-51cb-40d5-bd91-e5cdb3eabfa0.mp3"},"yoast_head":"\nThe next bn: Gen Z and the middle class driving CEMEA's growth - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2024\/08\/21\/the-next-bn-gen-z-and-the-middle-class-driving-cemeas-growth\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The next bn: Gen Z and the middle class driving CEMEA's growth\" \/>\n<meta property=\"og:description\" content=\"With the world\u2019s population soaring past 8 bn, Gen Z is shaping the future economic outlook. Fueled by a growing middle class, the demographics of Central and Eastern Europe, Middle East and Africa (CEMEA) are set for new opportunities. Globally and regionally, economic outlooks signal a quicker slowdown in spending. 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