MARKETS & INVESTING | Staff Reporter, Malaysia

Malaysian household spending to grow 10.8% by 2022

Majority of their disposable income is at US$10,000 to US$25,000.

BMI Research reported that Malaysian household spending will grow by an average of 10.8% by 2022, caused by rising levels of disposable income, urbanisation levels, and foreign investment.

Malaysia, with majority of households' disposable income of US$10,000 to US$25,000, is predicted to grow in consumer electronics and small-ticket category of toys, sports, gardens and pet spending.

Meanwhile, India comes next to Malaysia, and is expected to grow annually by 9.9% in the furniture and household textiles sector, with majority of households' disposable income of US$5,000 to US$10,000.

Further, Asia’s household good spending is forecasted to expand by 6.2% annually from 2018 to 2022, and will be worth US$935b by the end of the forecast period.

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