Proof Point
Global middle class expected to expand from under 2 billion in 2009 to nearly 5 billion in 2030
Number of Middle Class by Region
2009, 2020F and 2030F (millions of people)
| Note: | Global middle class is defined here as those households with daily expenditures between $10 and $100 per person in 2005 purchasing power parity terms. The lower bound is chosen with reference to the average poverty line in Portugal and Italy, the two advanced European countries with the strictest definition of poverty. The upper bound is chosen as twice the median income of Luxembourg, the richest advanced country. |
Proof Point Findings
- Middle Class Definition – Households with daily expenditures between $10 and $100 per person in 2005 PPP terms
- Global Middle Class Growth – Forecasted to grow almost three-folds in 21 years from 1.8 billion in 2009 to almost 5 billion in 2030, expected to make up almost 60% of the world's population by 2030 from a little over a quarter in 2009
- Focus on Asia Pacific – Asia Pacific expected to be center of middle class expansion, growing annually at 9% from 2009 to 2030; estimated 66% of the global middle class will come from the region by 2030
- Drop in Share of Europe and North America – Combined share of the global middle class forecasted to drop sharply from more than half in 2009 to 21% by 2030
- Key Growth Drivers – Include sustained strong economic performance of emerging markets, particularly in China and India, efforts to reduce income inequality, increasing household consumption, labor tax reduction, and improved social services
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Accelerator |
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Sector |
Cross-sector
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Date Last Updated |
December 7, 2016
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