Top Consumer Cities 2021: Where to Look for Opportunities?

Delivery

This report comes in PPT.

Key findings

The global urban consumer landscape is increasingly complex and difficult to navigate

Urban consumer potential is fragmented across the globe and depends on many different indicators. Euromonitor International has developed the City Scorecard benchmarking tool, which ranks 1,220 cities globally and allows consumer companies to quickly assess the current state and the future potential of urban consumer markets.

The top 100 most attractive consumer cities account for a significant share of potential global consumer expenditure

The most attractive 100 cities are mainly located in the US, Asia Pacific and the Middle East. These 100 cities will add USD5.3 trillion in real consumer income and will contribute 29% of the global growth in the number of wealthy households over 2020-2040. Targeting the most attractive cities will enable consumer businesses to be in the fastest growing and most promising urban markets, with the highest potential returns.

The US remains the leading consumer market, with 14 out of the top 20 global consumer cities in 2021

Austin, Dallas and Washington are the top three most attractive consumer cities globally. US cities might not rank at the top in population size and future growth, but they are the clear leaders in average income and number of wealthy consumers. US cities also rank very high in terms of the economy, labour and transport pillars.

Asia Pacific offers the fastest growth in the wealthy consumer segment, and relatively large populations

China’s and Malaysia's cities are the most promising consumer markets in Asia Pacific. First and foremost, they offer the potential of strong income growth, with large city populations, supported by economic strength and rising consumer spending. Kuala Lumpur, Jinan and Wenzhou are expected to be the most attractive cities in Asia Pacific in 2021.