Signal Brookings tipping point: half the world middle class in 2018, 5.3 billion projected for 2030

Summary

Citing a Brookings Institution study, the Megatrends 2040 report describes 2018 as a tipping point, when for the first time just over half of the world's population, about 3.8 billion people, was classified as middle class. By 2030 the global middle class is expected to reach 5.3 billion people. Most of this expansion is projected to take place in Asia. The report explains that the middle class is growing faster than other classes and taking a larger share of total income, which makes it increasingly important for the world economy. Its growth brings investment opportunities, changing consumer behaviour and higher total purchasing power that lifts global demand.