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August 11, 2010

Update on the Global Middle Class

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The Emerging Middle Class in Developing Countries by Homi Kharas of the Brookings Institute Middle class definition used is those spending $10-100 per day. Some interesting things to notice is that the projection is for the world economy to get to 200 trillion in 2005 dollars by 2036 up from about 70 trillion now. Asia will be over half of the world economy. North America will go from about 26% now to about 12%, which will be the same as central and south America. By 2024-2030, the dominant share of the middle class economy from India and China and the rest of Asia will established according the Kharas forecast. It would then be a shift from the lower end of the middle class range to the upper part.


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