I was sitting through an investment presentation from a mutual fund company. They were discussing Global Investing and where they see opportunity to invest. Not necessarily investing in or on a specific country, but investing in companies that would benefit from their exposure to those specific countries. They started discussing per capita amounts of specific countries (understandably boring to most, although I find intriguing at times) but then something fascinating, and humbling was mentioned.
They were mentioning that with the rise out of poverty of the per capita of India to the $1,000 – $2,000 middle class range for many in that country, one of the most popular “luxury items” that people are buying is Ice Cream. They even mentioned that the average American spends $25. per year on Ice Cream, which equals about .25 cents a week on Ice Cream. The average person in India spends the same .25 cents a year on Ice Cream.
This started me to think about how spoiled we are as Americans and how we too often take things for granted. Luxury items to us are cars, flat screen tv, gigantic houses and boats. To these people, luxury items are things like indoor plumbing, clean water, toothpaste, and Ice Cream.
Just something to think about, the next time you are having trouble making a decision about which of the 31 different flavors to choose from.