Signal Middle class put at about 5 billion by 2030 with two thirds in Asia Pacific

Summary

The Megatrends 2040 report projects that by 2030 about 5 billion people will belong to the global middle class, a community with significant purchasing power. Two-thirds of them are expected to live in the Asia-Pacific region. However, the report cautions that individual purchasing power in the West will remain higher than that of consumers in China and India. It adds that these two countries will account for a growing share of world production, 35% of the world's population and 25% of global GDP. The report presents this as a key driver of the shift of economic power toward the East.