Date: 2016-08-12

World Bank and IFC launch Global Consumption Database

Daniel Cooke

The World Bank's Development Data Group and the IFC have recently released the new Global Consumption Database, which now stands as the most comprehensive dataset on consumer spending patterns in developing countries. The database's sources include government surveys of more than one million households in 92 countries, and provides thorough information on 4.5 billion potential consumers for global companies. The initiative is aimed at assisting international firms in discovering new sources of demand, as well as providing market research to evaluate business opportunities in emerging markets.

Regarding the specifics of the resource's data analysis, it focuses on how 4.5 billion low-income consumers spend their income on food, housing, clothing, education, and other areas of consumption. Statistics are available based on country, rural or urban location, and spending level. Furthermore, for larger countries like Brazil, India, and South Africa, the resource also provides information on the demographics of each province in the country. Lastly, the website allows users to download its comprehensive indices of spending numbers, graphs, tables, and data for analysis.

This resource clearly demonstrates the global shift of investors towards developing markets, especially now that the depths of the global financial crises have for the most part been laid to rest. Investors and global companies are looking to expand and uncover markets that merely a decade or so ago would have been considered untouchable. Sub-Saharan Africa, Southeast Asia, and Latin America have experienced the most attention lately, especially from the BRICS countries looking to sustain their economic development through acquiring new resources. Globalization of technology, infrastructure, and communication has contributed to this trend greatly, therefore making new and comprehensive resources like this one invaluable to the investor looking to grow in a new era of international business.

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