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organ Stanley China, said this age group will be a main driver of the consumption upgrade in the next decade, with consum
ption in third- and fourth-tier cities expected to reach 45 trillion yuan in 2030, compared with 15 trillion yuan in 2017.
There were estimated to be about 112 million small-town youths in
China last year, according to mobile internet industry consultancy iiMedia Research.
Chen Ke, a senior partner with global consultancy Roland Berger, said that with lower housing prices in third- and fourth-tier c
ities, small-town youths have sizable disposable income and are more willing to spend a larger proportion of th
eir income on daily consumption, compared with people of the same ages living in bigger cities.
“They also have an increasing desire to live a better material and spir
itual life, are becoming more interested in personal products and are more willing to sp
end on entertainment and hobbies, as they have more spare time than their peers in big cities,” he said.