Signal China and India projected at 66% of the world middle class by 2030

Summary

The Megatrends 2040 report projects that by 2030 China and India together will make up 66% of the world's middle-class population and 59% of middle-class consumption. By that point more than 70% of China's population could be middle class, spending nearly 10 trillion dollars on goods and services. India could become the world's largest middle-class consumer market, overtaking both China and the United States. As incomes rise, consumers in both countries are already shifting from basic goods and clothing toward luxury goods and services. The report sees these trends as a source of significant export and tourism opportunities for countries such as Greece.