Poverty, middle class and purchasing power

Foresight

The number of people living in extreme poverty (US$1.9/day) has been reduced from 1.85 billion (35% of world population) in 1990 to 767 million (10.7% of world population) in 2013. | Related megatrends: Geopower; Inequalities
The size of the global middle class increased from 1.8 billion in 2009 to about 3.5 billion people in 2017 — more than half of the world population and is expected to grow to some 4 billion by 2021 and reach 5.3 billion by 2030. Some 88% of the additional middle class population will be Asians.
China and India will represemt over 43.3% of the global middle class by 2030.
| Related megatrends: Geopower; Demography; Urbanisation
Middle class spending is expected to grow from about $37 trillion in 2017 to $64 trillion by 2030, accounting for a third of GDP growth. Most of it will be driven by the growing consuming classes in emerging economies.
| Related megatrends: Demography; Geopower
The middle-class market in advanced economies is projected to grow at only 0.5%-1% per year, while the dynamic middle-class market in emerging economies could register annual growth rates of 6% or more.
| Related megatrends:Geopower; Urbanisation; Inequalities

Originally Published \| Last Updated	27 Sep 2018 \| 17 Sep 2019
Knowledge service \| Metadata	Foresight \| The Megatrends Hub \| Growing consumerism
Digital Europa Thesaurus (DET)	consumer behaviour economy poverty purchasing power parity developing countries