Good news : The middle class is taking over the world. Not the 1%.
06/12/2017 | 06:36 am
The middle class, that is the people whose revenues and lifestyles are between the poor and the rich, is growing at a totally unexpected rythm. Today, those middle class people are supposed to be about 3.2 billion around the world. Each year, for the next 5 years, 160 million humans will be added to the middle class. Needless to say that, China and India, and Asia in general, are participating in this drive upwards. All in all, middle classes will represent, in 10 years’ time, 5.2 billion people, most of them from Asia, China, India, other Asian countries. Today, the middle classes are spending 35 trillion dollars per annum, in twelve years, that is in 2030, they will be spending 64 trillion.
Those and other numbers show that a gigantic revolution is on the way. The lifestyle of those billions of people will totally change. They will seek better conditions, more money. They will be in charge of the world.
Much more so, than the 1% of today. Every company selling something has to analyse that trend and get prepared. Worldwide.
© The Finance Foundation 2017