At present, Asia has a population of 3.513 billion and represents 58.9% of the world population. In view of supplying or consumption, Asia will definitely become No. one in the footwear world. Currently people in Asia countries consumes 1.2 pairs of shoes annually, according to the latest estimates from Swiss Bank Corp, the average consumption of shoes in Asia will grow to two pairs each year by 2012. As the Asian economy continues to grow, it will boost the consumption power and awareness of spending, particularly in rural areas, Asia will be the most potential markets of footwear. The global economic slowdown hits all over the world, particularly the economics in Europe and the United States, and leads consumption downturn. With supporting by manufacturing sectors and foreign and domestic brands, the consumption power is quickly growing in China, it is estimated that China will be the most important shoe market for the world footwear industry in 2009. There are three factors contributing to the consumption growth. The most important one is the steady improvement in citizen income; second is the upgrading of consumption structure drove the consuming growing. The last is the appreciation of RMB, which lowers the import price of footwear and stimulates the shoes consumption in domestic markets.
