Development
Global Middle Class
Definition
People earning $12-120/day (2017 PPP) — the consumption-driving segment of the population associated with political stability, education demand, and economic growth.
Explanation
The global middle class grew from 1.8B in 2009 to 4B+ today, driven by China and India. By 2030, Asia will represent 2/3 of global middle-class spending. Middle-class growth drives demand for housing, education, healthcare, consumer goods, and financial services — the engine of consumer-led development.