The emerging markets have been steadily outpacing the developed world in economic growth, and consumer spending may soon begin to kick into high gear, bolstering developing economies and related exchange traded funds (ETFs).

According to a report conducted by The Nielsen Co., the Asia Pacific consumer confidence index surged ten points to 107 in the last quarter, a record high, and the Middle East/Africa region saw a seventeen point jump to 106, also a new high. Consumer confidence has a baseline of 100.

The SPDR S&P Emerging Middle East & Africa ETF (NYSEArca: GAF) and iShares MSCI Pacific Ex-Japan Index Fund (NYSEArca: EPP) are both up over the past three months.

“The good news is that income is rising faster than inflation, particularly in rural areas, and living standards continue to improve,” states Karthik Rao, Managing Director, Nielsen China. Rao also adds that “strong growth in marketplace demand, even in discretionary categories” could come as a result.