Growing Global Middle Class
14/02/19 17:14
Growing Global Middle Class
The middle-class center of gravity appears to be heading eastward.
In 2009, the global middle class consumed $21 trillion in aggregate, with North America accounting for roughly a quarter of that total. By 2030, global middle class spending is expected to exceed $55 trillion - and North America will likely only account for about 10% of it.
Asia Pacific region is expected to grow of 500%. While increasing Chinese spending tops the news, the East Asia Bureau of Economic Research forecasts that spending in India and Indonesia will grow at similar rates.
Source: Charles Schwab Onlnvesting, Fall 2012 and SOURCE: Homi Kharas, “The Emerging Middle Class in Developing Countries,” Organisation for Economic Co-operation and Development, January 2010.
“Middle class” is defined as those households with daily expenditures between
$10–100 USD per person in purchasing power parity terms.
The middle-class center of gravity appears to be heading eastward.
In 2009, the global middle class consumed $21 trillion in aggregate, with North America accounting for roughly a quarter of that total. By 2030, global middle class spending is expected to exceed $55 trillion - and North America will likely only account for about 10% of it.
Asia Pacific region is expected to grow of 500%. While increasing Chinese spending tops the news, the East Asia Bureau of Economic Research forecasts that spending in India and Indonesia will grow at similar rates.
Source: Charles Schwab Onlnvesting, Fall 2012 and SOURCE: Homi Kharas, “The Emerging Middle Class in Developing Countries,” Organisation for Economic Co-operation and Development, January 2010.
“Middle class” is defined as those households with daily expenditures between
$10–100 USD per person in purchasing power parity terms.