A recent study has stated that emerging affluent Pakistanis are more optimistic about their future salaries when compared to the Chinese.
The ‘Climbing the Prosperity Ladder — The rise of the socially mobile in Asia, Africa and the Middle East’ study notes that with almost half of the socially mobile in Pakistan (48 per cent) an earnings increase of 50 per cent or more is expected in the next five year compared to 29 per cent in China.
The study states that the emerging affluent are “creating their own prosperity by achieving more in their education, careers and businesses than their parents did”, with access to digital technology allowing for more efficiency in handling finances.
Of those surveyed, 79 per cent in Pakistan believed they were doing better than their parents in terms of finances when in fact only 64 per cent were better off than the earlier generation.
The study funded by Standard Chartered Bank looks at 11,000 “emerging affluent” consumers in China, Hong Kong, India, Indonesia, Kenya, Malaysia, Nigeria, Pakistan, Singapore, South Korea and the United Arab Emirates (UAE).
The study was shared with local media on Monday.