Consumption in the region’s biggest cities — Mexico City, São Paulo, Buenos Aires, Lima, and Santiago — could grow by three to five percent a year through 2030, according to the McKinsey Global Institute.
Altogether, annual spending among 30- to 44-year-old Latin Americans could reach $1.1 trillion by 2030, up from $671 billion today.
But the region’s economies are aging at different rates. Warns McKinsey: “While most of the region is relatively young, cities in Brazil, Chile, and Cuba will be graying by 2030.”
Photo credit: The Hub São Paulo