If you are contemplating making an investment in big tobacco, and have not yet done so, you need to read this.
The money quote:
“China had 182 million smokers in 1980, and nearly 282 million in 2012, it said. India gained 35 million smokers – bringing its total to 110 million – even though the smoking rate fell from 19 to 13 percent of the population.
Russia, where about one third of people smoke, has added 1 million smokers since 1980.
Globally, the number of smokers has climbed from 721 million in 1980 to 967 million in 2012. The number of cigarettes smoked annually has also risen 26 percent over the past three decades.