Consumer spending in Brazil, Russia, India and China may surpass U.S. purchases in 15 years and companies that sell to emerging-market shoppers are some of the best investments “of our lifetime,” Goldman Sachs Asset Management chairman Jim O’Neill said.
Spending in the so-called BRIC countries may climb by more than $500 billion a year, O’Neill said Monday. BRIC consumer spending was about $4 trillion in 2009, compared with about $10 trillion in the United States, O’Neill wrote in a Dec. 3 research note.
“Having exposure either directly or indirectly to the consumers in the BRIC and Next-11 countries remains the key investment strategy of our lifetime,” said O’Neill, who coined the BRIC acronym in 2001.
(Bloomberg)
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