Which country has the fastest-growing middle class?
A report released by the U.K.-based analytical NGO and data refinery enterprise World Data Lab forecasts that Indonesia will have the world’s fastest-growing middle class population with 75.8 million, followed by Pakistan (59.5 million) and Bangladesh (52.4 million).
Is South Africa middle class growing?
Data published at the end of 2020 by the University of Cape Town Liberty Institute shows that South Africa’s shrinking middle-class has been years in the making, declining from 6.1 million to 2.7 million individuals between 2017 and June 2020, translating to a 55.73% reduction.
What is middle class income in Nigeria?
Our findings about the Nigerian middle class are summarised below: Their average monthly income is in the range NGN75,000-100,000 ($480- 645, or roughly $6,000-7,000 pa). The middle class make up about 23% of the Nigerian population, according to African Development Bank (AfDB) data.
What percentage of South Africa is middle class?
They comprise, according to a 2018 report by the South African Government and the World Bank, somewhere around 20% of the population. Yet, two years earlier, a working paper by then-PhD student Anna Orthofer on the South African middle class put it at 40%.
Social classes included leaders, merchants, religious leaders, labourers, free citizens and the slaves. The leaders were people who founded a community or settlement, their lineage naturally became the new leaders of the communities as the years went by.