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Follow on Google News | New Market Research Report: Chile Retail Report Q3 2011New Retailing market report from Business Monitor International: "Chile Retail Report Q3 2011"
Chile's nominal GDP is predicted to be US$247.4bn in 2011, with growth of 5.4% expected for the year. Average annual GDP growth of 4.0% is forecast by BMI between 2011 and 2015. With the population forecast to increase from 17.3mn in 2011 to 17.9mn by 2015, GDP per capita is forecast to rise by 33%, reaching US$19,008. In 2005, 66.4% of the Chilean population was described by the UN Population Division as economically active, with 37.5% in the crucial 20-44 age group, which is vital for retail sales. The majority of Chileans live in urban areas (87.7%) according to the UN data, with 40% of the population living in the Santiago metropolitan area alone. By 2015, the urban population is forecast to account for more than 90% of the total, with 37.3% in the 20-44 age band and 68.6% of the population expected to be economically active. ------------------------------------------------------------ Full Report Details at - http://www.fastmr.com/ ------------------------------------------------------------ Chile's youth population is driving demand for consumer goods, with 3.34% of the household budget being spent on clothes in 2007, according to Instituto Nacional de Estadistica (INE). This was the highest spending category after cars, rent and public transport. We believe the government's social programmes and rising incomes across the board will lead to a fall in income inequality over the next few years, significantly increasing both the potential profits of consumer industries and the investment appeal of the Chilean economy. Retail sub-sectors expected to show strong growth over the forecast period include food and drink, with sales forecast to rise from an expected US$24.86bn in 2011 to US$33.53bn by 2015, a rise of nearly 35%. With mass grocery retail (MGR) penetration levels comparatively low and scope for expansion beyond Santiago, sector sales are expected to grow by nearly 20% over the period - from US$15.53bn in 2011 to US$18.57bn by 2015. BMI forecasts over the counter (OTC) pharmaceutical sales to increase from a predicted US$0.62bn in 2011 to US$0.81bn by the end of the forecast period, up by 30% as the ageing population and the growing disease burden drive pharmaceutical market growth. Consumer electronic products sales are forecast to rise by nearly 36%, from US$2.38bn in 2011 to US$3.23bn by 2015. Chile's consumer electronics markets is one of the most sophisticated in Latin America, with GDP per capita higher than in Argentina or Brazil. The Chilean market offers continued growth potential in key digital product groups such as computers (less than 20% penetration) Automotive sales are forecast to rise by 36% to 441,076 units by 2015. We adjusted our forecasts for vehicles sales as a result of the stronger-than- Foreign travel and tourists have stimulated increasingly consumerist attitudes and consumption in recent years. While global tourism declined by 4% in 2009, according to the UN World Tourism Organization (UNWTO), figures from INE show 2-3% growth in tourist arrivals to Chile in 2009. In the peak month of January that year, revenue from foreign tourists rose by 9% year-on-year (y-o-y), with arrivals from Argentina up by 22%. Domestic tourism revenues rose by 8%. Servicio Nacional de Turismo (Sernatur) director Oscar Santelices told Reuters he hoped revenues would remain at the 2008 level of US$2bn in 2009, and that investment in tourism projects would hold up at about US$800mn. It is estimated that revenues will reach US$2.7-4.0bn by 2012, an increase from US$1.80bn in 2007. Retail sales for our Latin American universe in 2011 are expected to reach US$1,337bn, based on varying national definitions. Total consumer spending for the region, based on BMI's macroeconomic database, is predicted to be US$3,155bn. Brazil and Mexico are expected to account for an estimated 74.0% of regional retail sales in 2011, with the two countries still likely to account for 72.5% of all retail sales in the region by 2015. For Chile, its predicted 2011 market share of 4.0% is expected to fall to 3.1%. About Business Monitor International Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports. View more research from Business Monitor International at http://www.fastmr.com/ About Fast Market Research Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156. # # # Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available. End
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