Session 5: Promoting development and inclusivity through consumer policy
Oct 9, 2024 | 3:00 PM - 4:00 PMCC15
Oct 9, 2024 | 3:00 PM - 4:00 PM
CC15
Description
The global consumer class is rapidly expanding. By 2031, the number of consumers with the financial means to participate in markets beyond basic needs is expected to reach five billion -- a one billion increase from 2023. This highlights the growing role of consumers in the global economy and the potential for consumer policy to support economic development. Indeed, by protecting consumers from risks in the marketplace and empowering informed choices, consumer policy can lead to more efficient markets, greater trust and better economic outcomes. At the same time, consumer policy can help foster more inclusive societies, by addressing harms to specific sociodemographic groups and integrating gender considerations. And in emerging and developing economies, stronger consumer policy frameworks can help alleviate poverty. This session will explore how consumer policy can promote development and inclusivity and ways to strengthen dialogue with emerging and developing economies.
