With 189m population, Pakistan is the largest among the frontier markets studied, and given the relatively high fertility rate and longer life expectancy it could reach >300m by 2050, Credit Suisse analysts led by Chate Benchavitvillai write in note.
- Pakistan population boom plays
- Consumer stocks: Engro Foods, Nestle, Packages
- Consumer appliances: PEL
- Pharma: Searle
- Heathcare: Shifa Hospital
- Large banks: HBL, UBL, MCB on low penetration
- Vietnam’s old-age dependency may triple by 2050; needs to focus on productivity improvement, healthcare and pension reforms
- Notes DHG is Vietnam’s largest pharmaceutical company
- Vingroup offers healthcare exposure through its 3 hospitals and expansion
- BH and BDMS in Thailand could benefit from medical tourism