Especially in the United States, food expenditure only accounts for 6.7% of the total household expenditure, which can be said to be the lowest in the world. The expenditure on medical care exceeds 2 1%, which is twice that of other developed countries, and this ratio is the highest in the world.
The trend of household consumption expenditure in developed countries is obvious. That is, food, tobacco and alcohol account for a smaller proportion. Residential energy (residential expenses, water, electricity, gas and other living energy), medical care, culture and entertainment, catering and accommodation and other consumption accounts for a relatively large proportion.
What conditions does the consumption scale depend on?
The size of consumption depends on three conditions: first, population, second, the amount of money, and third, the willingness to spend money.
The population of the United States is 300 million, which seems to be small, but it ranks third in the world, second only to China and India, so the United States is a well-deserved world power and the largest developed country in the world.
Secondly, the per capita GDP5 of the United States is more than 50,000 US dollars, that of Germany is more than 40,000 US dollars, and that of Japan is more than 30,000 US dollars. So the United States not only has a large population, but also has a higher income than other developed countries.
As a highly developed capitalist country, the United States has a highly developed tertiary industry, accounting for 80% of its GDP, and belongs to a consumer country. The American consumer market has been rising for a long time. The more the economy develops, the higher the per capita income will be, and the consumption power will be improved accordingly.