The percentage of middle class homes in Peru will reach 52% by 2021 from a current 44%, projected Victor Albuquerque, Head of Industry Analysis at Apoyo Consultoria, a firm providing business advisory services in Peru.
“It is a challenge we have to achieve in addition to show again higher expansion rates of 4.5% and 5%, for which we have to stimulate development of several investment projects,” he was quoted as saying by Andina news agency.
Besides boosting investment, he continued, improvements must be made in the provision of public services.
“In the end, the determination of socioeconomic level does not only have to do with the money you make, but also with the improvement in quality of life, that is, in energy, water and sanitation,” he added.
"Another factor is education," said Albuquerque after speaking at the 2015 International Retail Congress, organized by Seminarium and the Peruvian Shopping and Entertainment Centers Association (ACCEP).
“Important changes in quality of life and consumption habits will be observed in light of the increasing number of household heads with higher education, received both at universities or institutes; the retail industry can take advantage of such changes,” he stated.
According to information provided by the analyst, Peru’s upper class (A) will rise from 2% in 2013 to 3% in 2021, whereas the emerging lower class (D) will decrease from 35% in 2013 to 31% in 2021.
Lower class with lack of resources (E), in turn, will decline from 19% in 2013 end to 14% in the bicentenary year.
(END) ESV/JJN/RMB/MVB
Published: 4/17/2015