Quartz: The world’s middle class will number 5 billion by 2030
Millions of newly affluent people in emerging economies are reshaping and resizing the global middle class. The world’s middle class will swell from 2 billion to almost 5 billion by 2030, with most of that growth coming from developing countries, according to the Organisation for Economic Co-operation and Development. The world population in 2030 is expected to be about 8 billion.
The OECD defines “middle class” as making $10 to $100 a day, adjusted for the purchasing power of each currency. Today, people in developing countries make up almost 30% of the world’s consumer spending, up from 18% a decade ago as they become middle class. This change, what the US National Intelligence Council called a ”tectonic shift,” is one the most important trends for the next several decades. ...
