Rising Prices of Cigarettes Lowering Consumption in Finland: Ken Research

Ken research announced its recent publication on Cigarettes in Finland . The report provides a comprehensive analysis  on the cigarette market of Finland. It gives an highly analytical, extensive and  detailed current and future market trends in the Finnish market. It further , covers market size and structure along with per capita and overall consumption. Additionally, it delineates about the brand data, retail pricing, prospects and forecasts for sales and consumption to 2025.

Finland is a sovereign state in northern Europe and a part of the Eurozone .The nation has a highly industrialized mixed economy . The service sector is the largest sector of the economy at 72.7% , followed by manufacturing ( 31.4%) and primary sector (2.9%).  It has a relatively open economy and the international trade is a third of the GDP. The biggest trade partners are with, Russia  Sweden, the United Kingdom, the United States, Netherlands and China. The Finnish tax structure is heavily based on ad valorem or value-based tax
Finland is sparsely populated as it located in the Arctic circle . The nation does not have a very young lot of citizens ats over 20% of its population are above the age of 65. Finnish government invests heavily in education , training and research and thus delivers one of the most quality workforce in the world.
On the external front, the collapse of the Soviet Union in 1990s had hit its exports badly. With the fall in prices, western sanctions related to the crisis in  Ukraine and Russia’s trade retaliation against the EU has further impacted the trade negotiations of Finland. Further, the wage rate is rising and the labour productivity is falling.
The level of smoking in Finland is lowest amongst all the European nations . Recently , the sale for cigarettes is falling regularly . The major factor is the regular rise in the price of cigarettes. Further, the campaign against smoking and the government commitment to fight the industry is showing success. The ban on the flavored cigarettes will also impact the industry as methanol cigarettes have a considerable share in the market.  As EU brings out its tobacco product directive , the industry is set to see more setbacks.
The laws related to tobacco products

• Sale is prohibited to people under the age of 18
• Advertising is strictly prohibited
• People cannot smoke in restaurants, pubs or workplaces
• Retail sale of tobacco is subject to license

Thus, with the enactment of strict laws, the Finnish government aims abolish smoking completely in the upcoming years
Topics Covered in the Report

• Cigarettes Market Finland
• Cigarette Market Consumption Finland
• Global Cigarette Production Volume
• Finland Cigarette Market Future Outlook
• Cigarette Advertisement Expenditure Finland
• Finland Cigarette export volume
• Finland Cigarette import volume
• Finland Cigarette Market Size
• Finland Cigarette Market trends
• Finland Cigarette Market growth
• Finland Cigarette Market share
• Finland Cigarette Market future
• Finland Cigarette Market analysis
• Finland Cigarette Market research

For more information click on the link below
https://www.kenresearch.com/food-beverage-and-tobacco/tobacco-products/cigarettes-finland/78851-11.html
Related Links
https://www.kenresearch.com/food-beverage-and-tobacco/tobacco-products/cigarettes-algeria/78850-11.html
https://www.kenresearch.com/food-beverage-and-tobacco/tobacco-products/cigarettes-singapore-2017/79695-11.html
Contact:
Ken Research
Ankur Gupta, Head Marketing & Communications
query@kenresearch.com
+91-124-4230204

Norway Commercial Construction Industry to Witness Positive Growth: Ken Research

Ken Research has announced publication titled, “Commercial Construction in Norway to 2020: Market Forecast” which provides detailed historic and forecast market value data for the commercial construction industry, including a breakdown of the data by construction activity (new construction, repair and maintenance, refurbishment and demolition).

The report includes historical and forecast valuations of the industry that use the construction output and value added methods.

It furnishes a top-level overview and detailed insight into the operating environment of the commercial construction industry in Norway and is a requisite device for companies active across the Norwegian construction value chain and for new players who consider entering the market.

It evaluates competitive risk and success factors and makes it easy to form and validate corporate strategies for achieving the goals efficiently and effectively.

With over five million inhabitants living among mountains, lakes, glaciers, and deep coastal fjords carving up Norway, building a sustainable infrastructure is a mammoth undertaking, where helicopters play a fundamental role since major commercial construction takes place with the help of helicopters only in the country.

Regardless of the period of subside in the wake of the world economic recession, the commercial construction market is anticipated to showcase a considerable growth in the near term, mainly owing to the global economic stabilization.

Currently, Asia-Pacific is the leading regional market for commercial construction and the healthcare as well as entertainment facilities construction account for the largest segments of the overall commercial construction market and therefore it is to be balanced for stable growth in other regions in the years to come.

Government Initiatives

To balance demand and supply for housing and energy are expected to support construction industry growth over the forecast period and also according to Statistics Norway, the number of new residential building permits issued in the country grew by 14.9% in 2015 relative to 2014.

To develop the country’s transport infrastructure and improve regional connectivity are expected to support the construction industry’s growth in the years to proceed. As part of the move, the government is implementing the fourth edition of the National Transport Plan over the period 2014–2023, with a total investment of USD 86.5 billion.

Key Factors Considered in the Report

Norway construction Industry Research Report

Norway Institutional Construction market

New Institutional projects Norway

Norway Construction Market Players

Norway Infrastructure Industry Trends

Norway Residential Construction Sector

Norway Real Estate Industry Future Outlook

For more coverage click on the link below:

https://www.kenresearch.com/manufacturing-and-construction/infrastructure/commercial-construction-norway/80490-97.html

Related links:

https://www.kenresearch.com/manufacturing-and-construction/infrastructure/commercial-construction-russia/12940-97.html

https://www.kenresearch.com/manufacturing-and-construction/construction-materials/china-construction-machinery-industry-research-report/318-97.html

Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249

Cigarette sales in Algeria expected to fall as taxes rise: Ken research

Ken research announced recent publication on Cigarettes in Algeria . The report provides a comprehensive analysis  on the cigarette market of Algeria. It gives an highly analytical, extensive and  detailed current and future market trends in the Finnish market. It further , covers market size and structure along with per capita and overall consumption. Additionally, it delineates about the brand data, retail pricing, prospects and forecasts for sales and consumption to 2025.
Algeria is Africa’s largest country and a major part of the OPEC. It has a GDP of over USD 550 billion. The economy is  highly dependent on its energy resources. Energy sales accounted for over 90% of the Algerian exports and about 60% of its state budget. The industry  sector is the largest sector of the economy , followed by service sector then  primary sector . Algeria’ s mean tariff rate is 12%  and its trade and investment policies are less open that most of the nations.

Algeria is a moderately populated country , with is population growth being only 1.2% per year. The Mediterranean cost is the most populated area with 91% of population settled within just 12% of landmass. There is rapid urbanization as 45% of people live in urban areas and these numbers are growing  An average woman gives birth to 1.8 children and there is 4 births to each death case. The nation has relatively younger population with about 95% of people below the age of 65 years.
The Algerian economy facing certain difficulties. In 2015, the oil prices fell and the local currency dinar deprecated, their export revenue got halved. Due to this, the gap of the fiscal deficit further intensified . According to their finance ministry, their fiscal deficit reached 16% of the GDP in 2015.  This has led to cut down in subsidies given by the government, increase in value tax by 10% and stalling of some major infrastructural projects.  Further, the government announced to reduce its imports by 15% to preserve the foreign currency.
The nation faces certain issues on its domestic front as well . In 2015, the government suppressed its political opponents leading to widespread resentment and  fall in state’s credibility. The corruption level is high and judicial system inefficient. Algerian labour market is rigid leading to high unemployment .
Algeria has a culture of cigarette consumption. The industry is dominated by SNTA which is state monopoly and biggest producer of cigarettes. In 2005, this industry was opened for imports which led to joint venture between SNTA and Arab investors. On September 28, 2006, Algeria became one of the first countries to sign the world Health organization’s framework on tobacco control.
The laws under the frame work include

• Smoking is prohibited in educational, health, athletic, and cultural facilities. There are several restrictions on smoking in workplaces and public transport
• The laws prevents advertising of tobacco products
• The cigarette package must display health warnings

Topics Covered in the Report

• Cigarettes Market Algeria
• Cigarette Market Consumption Algeria
• Global Cigarette Production Volume
• Algeria Cigarette Market Future Outlook
• Cigarette Advertisement Expenditure Algeria
• Algeria Cigarette export volume
• Algeria Cigarette import volume
• Algeria Cigarette Market size
• Algeria Cigarette Market growth
• Algeria Cigarette Market trends
• Algeria Cigarette Market future
• Algeria Cigarette Market analysis
• Algeria Cigarette Market research

For more information click on the link below
https://www.kenresearch.com/food-beverage-and-tobacco/tobacco-products/cigarettes-algeria/78850-11.html
Related Links
https://www.kenresearch.com/food-beverage-and-tobacco/tobacco-products/cigarettes-finland/78851-11.html
https://www.kenresearch.com/food-beverage-and-tobacco/tobacco-products/cigarettes-singapore-2017/79695-11.html
Contact:
Ken Research
Ankur Gupta, Head Marketing & Communications
query@kenresearch.com
+91-124-4230204

Cashless Market in Sweden to uplift consumer Payments Market: Ken Research

Ken research announced recent publication on, "Consumer Payments Country Snapshot: Sweden 2016". This report examines the consumer payments market in Sweden, considering payment cards, online payments, P2P payments, and newer payment technologies such as mobile wallets and contactless. This report also examines the regulations in force in the market that players must comply with, and how these have changed in recent years. Analyses of the major payment card types in terms of both card holding and usage are reported. The study analysis the major competitors in card issuing and how their positions in the market have changed over the last five years and considers consumer attitudes towards prepaid cards, P2P tools, mobile payment tools, and contact less cards, and how companies in Sweden are deploying these tools to meet customer needs. It explores the online payment market in Sweden by merchant type and payment tool, as well as providing a five-year forecast for the development of the market and considers the regulations affecting the payments market and how they are likely to affect both incumbents and disruptors.

Sweden has the potential to become the world's first cashless society. The use of cash is declining quickly in Sweden and over half of all bank branches no longer deal with cash-based transactions. Payment cards are widely held and widely used in Sweden, and it has a strong alternative payments market. Credit cards remain one of the least frequently used card types in Sweden. Fast internet and a high smart phone penetration rate have resulted in billion dollars online spend in 2015.
With the awareness of contact less increasing and all new POS terminals from the beginning of 2017 having to be NFC-enabled, the popularity of the technology among both merchants and consumers will increase greatly over the next few years.
Payments made by means other than cash are made via services offered by payment service providers, traditionally banks, and consumed by households, companies and the public sector. Examples of such payment services include card payments, credit transfers and direct debits. Suppliers of payment services are commercial enterprises competing with each other on the retail payment market.  The country has witnessed broad usage of debit cards for retail payments. Further movement away from cash continues to come slowly through erosion of cash share of low value payments, through uptake of products like PayPass and emerging solutions for transit payments using smart phone applications. As Sweden has long set out to reduce cash usage, Swedish governments have strived to make electronic payments available, affordable and ubiquitous. Contact less payments represent a €9.5 billion opportunity in Sweden. Top Swedish mobile operators such as Telia, Tele2, Telenor and Three had launched WyWallet, a mobile payments offering that provides mobile wallet services to 97% of Swedish mobile phone users and includes support for NFC. Major structural changes are now taking place in the Swedish payment market. Increasing numbers of payments are being made electronically, sometimes with the use of new technology. At the same time, cash usage is declining and it is also becoming more difficult to deposit or obtain cash. The widespread availability of the Internet, tablets and smart phones is changing households’ purchasing patterns and payment requirements. The banks, which long dominated the payment market, are now facing competition from new players. Even if the overall development is positive, some households, associations and companies perceive it as negative. In this article, we first describe how the Swedish payment market looks today and emphasise a couple of its characteristics that are of central importance for understanding current developments. Following this, we describe the most important parts of the structural transformation and the challenges this entails. We discuss the advantages and disadvantages as well as what can and should be done to mitigate the negative effects on certain groups. We also conduct a discussion of the responsibilities of the market and authorities. In summary, we can observe that the development of the payment market is positive overall and continued development should not be hindered. However, we also note the existence of problems that must be solved or at least eased. Tools for solving these problems exist but require cooperation between market participants and between market and government. Ultimately, however, it is the government that must act as a safety net for users who would otherwise risk finding themselves outside the payment market.
The development of the payment market is proceeding rapidly as new, innovative ways of making payments are launched. These are often based on mobile telephones or require an Internet connection. We can also see increased competition for the banks from new players making an entrance on the payment market thanks to new technology or new processes. Users are quick to adopt new payment services, making cash and paper-based payments decrease rapidly. This structural transformation could give us better, cheaper and more secure payment services in the future but it will also bring challenges for society. Before we discuss the consequences of the structural transformation, it would be helpful to understand the forces driving the structural transformation and why it seems to have progressed so far in Sweden.
New technology often needs to mature and become widely used before it can be used to construct new payment solutions. This is because there would otherwise only be a few potential users, which would prevent network effects and economies of scale from being utilised. For example, a sufficiently large proportion of households must have access to the Internet for it to be worthwhile constructing an Internet bank, and a mobile bank can only be profitable if enough of the bank’s customers have smart phones. Exactly how wide the distribution of a technology must be varies from case to case, along with the other business considerations the payment service suppliers must make.
Companies Covered
Mastercard, Visa, American Express, Diner's Club, Swedbank, Nordea, ICA, ICA Banken, Svenska Handelsbank, IKANO Banken, Coop, Moneypolo, Swish, SEQR, Danske Bank, Lansgforsakringar Bank, Sparbankerna, iZettle, PayEx, WyWallet, 4T Sverige, Epicenter, Klarna, Bankomat, nets, Bambora, Kungsaengen
Topics Covered in the Report

• Sweden Ecommerce payment industry
• Sweden payment industry
• Wallet payment market Sweden
• Plastic Card Money Sweden
• P2P payments Market Sweden
• Online Payment channels Sweden
• Sweden Payment industry Future Outlook
• Sweden payment sector technology
• Sweden payment Market Share
• Sweden payment Market Trends
• Sweden payment Market Growth
• Sweden payment Market future

For more coverage click on the link below:
https://www.kenresearch.com/banking-financial-services-and-insurance/financial-services/consumer-payments-country-snapshot-sweden/80163-93.html
 Related links:
The Cards and Payments Industry in Cambodia: Emerging Trends and Opportunities to 2021
NLV Financial Corporation-Strategic SWOT Analysis Review
 
Contact:
Ken Research
Ankur Gupta, Head Marketing & Communications
query@kenresearch.com
+91-124-4230204

The Market for Pediatric Drugs In India Is Expected to cross INR 960 Billion in the Future: Ken Research

India pediatric drugs and vaccine market has witnessed tremendous growth in the last five years largely due to high number of annual births recorded at around 25 million, launch of generic formulations of several pediatric drugs including flavored TB drugs, inclusion of several vaccines in the national immunization schedule of the country and inclining coverage of children vaccination under national immunization schedule.

In the last few years, medium to large Indian pharmaceutical companies have aggressively invested in international acquisition of companies to strengthen their foothold in developed and emerging markets globally.

India’s healthcare spending is one of the lowest in the world with the country spending only 1.2% of its GDP on health care as compared to 8.3% by the US and global mean of 5.4%, as of FY’2016. It also has the highest infant mortality rate and maternal mortality rate in the world. This has propelled the pharmaceutical industry to address the existing unmet challenges. The industry has come out with drug formulations for infants against some life threatening diseases such as tuberculosis and pneumonia which has helped to curb down the infant mortality rate in the country.

The market for pediatric drugs and vaccines in India is almost entirely driven by companies manufacturing generic drugs. Almost all pharmaceutical companies operating in the country have expertise in developing generic drugs formulations of branded drugs developed by international companies so as to cater with underprivileged populations at a much cheaper price.

India has a huge disease burden and a large part of drugs sold in the country is meant for the treatment of several infectious and non-infectious diseases prevalent in the pediatric population. Pediatric drug are commonly used for diarrheal diseases such as cholera and viral gastroenteritis. Respiratory diseases including pneumonia and tuberculosis are other commonly treatable conditions for which drugs find extensive usage in the country.

Anti-infectives were the most frequently prescribed drug class by pediatricians, with over 80% of the prescriptions had some form of prescribed antibiotics. This is due to the wide scale prevalence of children being affected by respiratory diseases or some sort of microbial infections at regular basis.

India has emerged as leading vaccine producer in the world, in terms of doses of vaccines produced, and has about 12 major vaccine manufacturing facilities across the country. Vaccines manufactured in these facilities are offered in both national and international market (over 150 countries). With over 25 million births every year, the domestic market for vaccines in India is huge. The country has been self sufficient in meeting the domestic needs, with private sector responsible for providing a large part of the supply needs.

Key Factors Considered in the Report

Pediatric Drug Development

Trends Pediatric Vaccine Market

Number Of Pediatrician Statistics

Pediatric Tuberculosis Drug Market

Drug Information, Dosage, Side Effects

Vaccines Market Growth India

Drug Pipeline Pediatric Drug

Vaccine Clinical Trials India

Pediatric Drug Market Industry Size

New Drug Launches India Pharma Sector

Pediatric Vaccine Serum Institute Of India

For more information on the market research report please refer to the below link:

https://www.kenresearch.com/healthcare/pharmaceuticals/india-pediatric-drug-vaccine-market/81319-91.html

Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249

India Pediatric Drugs And Vaccines Market Future Outlook To 2021: Ken Research

How the Pediatric Drugs and Vaccines Market is Positioned in India?

India, a home of the largest pediatric population of the world and also has the highest number of annual child births in the world. However, almost 80-90% of the drugs used in children presently have never been studied for their efficacy in pediatric population. In India, results of the studies conducted in adult population are extrapolated for use in children. There are no specific medicine development regulations for pediatrics. Indian clinical practice relies heavily upon safety and efficacy data published in other developed countries or on inference from adult dosing. India pediatric drugs and vaccine market has witnessed tremendous growth in the last five years largely due to high number of annual births recorded at around ~ million, launch of generic formulations of several pediatric drugs including flavored TB drugs, inclusion of several vaccines in the national immunization schedule of the country and inclining coverage of children vaccination under national immunization schedule.

The market for pediatric drugs and vaccine in India has been dominated by pediatric drugs, driven by the availability of large portfolio of drugs for treatment of several diseases as compared to a limited number of vaccines for prevention of some infectious diseases. High efficacy of vaccines has ensured prevention against diseases by virtue of few doses of vaccines. On the other hand, repeated incidence of some or the other non-vaccine preventable medical conditions coupled with comparatively heavy requirement of drug doses have resulted in a far greater usage of drugs. India pediatric drugs and vaccine market has grown at an overwhelming pace in the last five years, exhibiting growth at a CAGR of ~% during the period FY’2011 to FY’2016 from INR ~ billion in FY’2011 to INR ~ billion in FY’2016.

How has the Pediatric Drugs Segment Performed?

About ~% of child mortality is registered in the country. Respiratory diseases including pneumonia and tuberculosis are other commonly treatable conditions for which drugs find extensive usage in the country. Nearly ~ million children are reported to die due to pneumonia every year. Owing to less prevalence of lifestyle diseases amongst pediatric population, market share of drugs meant for management of diseases has been low. Drug meant for management of diseases are typically chronic diseases, particularly degenerative non-communicable diseases (NCDs) such as chronic respiratory diseases, cardiovascular diseases, cancer, HIV/AIDS and diabetes amongst others.

Anti-infectives were the most frequently prescribed drug class by pediatricians, with over ~% of the prescriptions had some form of prescribed antibiotics. This is due to the wide scale prevalence of children being affected by respiratory diseases or some sort of microbial infections at regular basis.  Anti-histamines are drugs used for the treatment of allergies. Owing to high occurrence of allergies amongst children, anti-histamines are next best selling drug class. Commonly prescribed anti-histamines include chlorphenamine, dexamethasone, epinephrine, hydrocortisone and prednisolone. In India, about ~% of children aged between 5-11 years are known to suffer from asthma and the prevalence is expected to rise further with growing industrialization and changing biodiversity.

What is the Scenario of the Pediatric Vaccines Segment?

India has emerged as the leading vaccine producer in the world, in terms of doses of vaccines produced, and has about ~ major vaccine manufacturing facilities across the country. Vaccines manufactured in these facilities are offered in both national and international market (over 150 countries). With over ~ million births every year, the domestic market for vaccines in India is huge. The country has been self sufficient in meeting the domestic needs, with private sector responsible for providing a large part of the supply needs. However, India lacks in coverage rate of basic vaccines. The Indian domestic market for Universal Immunization Programme (UIP) alone is over ~ million doses. The R&D cost of UIP vaccines is minimal; however, the non-UIP vaccines involve technology licensing, R&D, infrastructure and operational costs. In addition, stringent regulatory requirements for the licensing of newer vaccines, add up to the cost.

More than ~% of all measles vaccines used globally are produced in India. Moreover, Indian firms are big suppliers to the UN agencies, accounting in between ~% and ~% of the vaccines purchased by organization every year. India has emerged as a major vaccine producer in recent times by focusing on geographical regions where vaccines are not funded by the UN or charitable organizations and strategic ties with UN and government agencies to supply vaccines at affordable prices. The Indian pediatric market for vaccines has grown at a remarkable CAGR of ~% during the period FY’2011-FY’2016.

The growth was attributed to some crucial vaccines (polio, hepatitis B, MMR and BCG) manufactured by Indian companies constantly featured in WHO’s prequalified list coupled with the fact that Indian companies (Serum Institute of India, Bharat Biotech, Panacea Biotec) acted as major suppliers of vaccines to WHO, UNICEF, PATH and other UN agencies. The market for pediatric vaccines grew from INR ~ billion in FY’2011 to INR ~ billion in FY’2016.

Companies Cited in the Report

List of Major Companies                          Companies Covered in the Report

Sun Pharmaceuticals

Lupin Pharmaceuticals

Cipla

Dr. Reddy’s Laboratories                            Major Players

Abbott India

Serum Institute of India

Panacea Biotec

Bharat Biotech

GSK Pharmaceuticals

Biological E Limited

Key Factors Considered in the Report

Comprehensive analysis of the India pediatric drugs and vaccines market and its segments

Listed major players and their offerings

Identified major developments in last few years and assessed the future growth of the industry

Government initiatives taken to stimulate the growth of the market. 

For more coverage click on the link below:

https://www.kenresearch.com/healthcare/pharmaceuticals/india-pediatric-drug-vaccine-market/81319-91.html

Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249

Exploding Mass Affluent Population in UK and its impact on Insurance Industry: Ken Research

Ken research announced recent publication on, "Targeting UK Mass Affluents with Insurance." The report explores the differing attitudes and insurance needs of higher affluence customers in comparison to the mass market. It explores the demographics of the group, the products they hold, and their purchasing preferences. It also highlights the leading providers for mass affluent, and discusses the opportunities and best ways providers can reach and engage with this customer group. It can be put to use my marketers to understand the differing needs of very affluent customers in comparison to the mass market and to improve customer engagement by recognizing what is most important to mass affluent customers and how insurers can adapt their products and services to meet their needs. It is a suitable solution to discover the top providers within the very affluent insurance market and thus, to explore the opportunities the mass affluent market provides in terms of insurance innovation.

The ‘mass affluent’ represent an important target market for the retail banks, with several offering ‘premium’ products and services designed specifically for this moderately wealthy demographic. The level of financial wealth held by UK households has increased by dramatic proportions in the last twenty years. Offering a premium or lower-entry private bank account not only helps to reach these more profitable individuals, but also acts as a useful gateway product, through which other products and services can be channelled. The mass affluent population in the UK is growing, meaning the demographic is an opportunity for providers selling personal insurance. Mass affluent are more likely to be male, have higher household incomes, and be married compared to retail customers. The assets of mass affluents are higher value, making their insurance needs more complex. They have different lifestyles compared to retail customers, meaning they also have different insurance needs. They travel abroad more often, and are more likely to own a second home, a car that requires specialist insurance, and high-value items that require additional cover.

The main reason for this marginal slow down in the rate of financial wealth accumulation is that we are not expecting another bull-run on the London stock market. However disposable income growth and savings rates are expected to remain as high as they have been in recent years. The factors determining wealth distribution – world trade, labour market deregulation, self-employment, executive stocks and options, the technology entrepreneurs, taxation and attitudes to savings – will in combination act to make the skew in wealth distribution more acute. Their impact will increase the share of wealth for the top twenty percent, but their effect will be less intense than it has been over the last five years. Private wealth is measured in the UK with perhaps more precision than virtually anywhere else in the world. This is mainly because of the British affinity for home-ownership and private pensions, two industries that are closely regulated; London’s importance as a world financial centre, another source of regulation; and the efforts of the Inland Revenue Service in securing capital gains and inheritance taxes. However, UK citizens are not required to declare their wealth levels in the way that they have to reveal, on an annual basis, their personal incomes. For wealth itself is not directly taxed; it is the income from wealth – interest, dividends and profits from assets – that are subject to income and capital gains taxes..

The sources of financial wealth – why the numbers of ‘mass affluent’ have grown The distribution of wealth (in its broadest form) in the UK is mostly the result of wealth accumulation of previous generations. Tax structures and changes in the nature of employment may have affected the distribution at the margin, but much of the store of personal wealth has been inherited by its current owners. Pillars on which this population incremented were:

The growth of the world economy is a vital engine of economic growth for the UK. The problems caused by the appreciation of sterling’s value against the euro zone currencies since 1996 have emphasised the UK’s dependence on the world economy for trade and job creation. The last decade had seen continual openings of foreign markets, from eastern Europe to China, as more of the world has adopted capitalist new consumers and lower cost production facilities, have encouraged capital mobility on an unprecedented scale.

Labour market de-regulation

Another source that has acted to heighten the skew in the distribution of wealth is the gradual de-regulation of employment in the UK during the 1980s. While employment law has certainly become more complicated over the last decade, especially for small companies, there has been increased freedom for companies to adjust their workforce size and location and to retain and reward highly skilled workers. This trend has mirrored the decline in influence and membership of trade unions and other occupational associations.

Self-employment

Self-employment has been important to financial wealth creation because it not only brings about greater financial control for individuals who have to provide accounts of their business but also encourages more detailed financial planning because of the inherent risks involved in self-employment

The spread of executive stocks and options

The use of stocks and options to remunerate and retain staff has increased rapidly during the last five years. The aim is obviously to tie key staff members into the medium term business plan, to motivate them and perhaps to defer their full remuneration until profitability of the business venture has been confirmed. Government organised share-save schemes, giving tax allowances for employee share-buying over time, has undoubtedly encouraged this form of remuneration.

The penetration of personal insurance products is higher among mass affluents than retail customers, and they pay higher premiums. In the UK, mass affluent individuals tend to be more mature, although they are not exclusively. This wealthier segment of the population comprises a diverse range of people: from young entrepreneurs and high-income earners, seeking to build their wealth, to income-poor but asset-rich retirees, who are seeking to maintain a good standard of living in retirement and/or tax-efficient ways of passing on wealth.

Topics covered in The report

·         HNW market research Report UK

·         UK high net worth individuals Population

·         UK money remittance industry report

·         UK Payment Industry Research report

·         Discretionary asset management Market UK

·         UK wealth management market research report

·         UK Insurance Industry Research report

·         Europe Insurance industry research

·         Targeting UK Mass Affluents with Insurance report

For more coverage click on the link below:

https://www.kenresearch.com/banking-financial-services-and-insurance/insurance/targeting-uk-mass-affluents-with-insurance/80164-93.html

  

Related links:

Personal Accident and Health Insurance in Hungary, Key Trends and Opportunities to 2020

Non-Life Insurance in Hungary, Key Trends and Opportunities to 2020 

Contact:
Ken Research
Ankur Gupta, Head Marketing & Communications
query@kenresearch.com

+91-124-4230204
www.kenresearch.com