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The causes and consequences of an explosion of the numbers of people in…
The causes and consequences of an explosion of the numbers of people in the middle classes
Causes
Rise in Income and Spending
China: 2,500 vehicles sold every hour (2013)
China: the world's biggest: Car market, Source of tourism, Online consumer
India: 150 million travellers in Indian Airports (2013, IATA), would rise to 450 million by 2020
Middle Class in India projected to grow to 200 million (2020), 475 million (2030)
Ghana: 81% increase in car ownership from 2008-2013
Africa + Middle East: 137 million (2009)-> 22 million (2020)-> 341 million (2030)
Latin America: 181 million (2008)-> 313 million (2030)/Brazil being the fastest to grow
Cheaper cost of goods
millions may already be Middle Class in Africa since costs are cheaper to buy, requiring people less money/encouraging them to save
Benefits of Globalization increased since 1980 to provide equal wealth and rights to people living in different parts of the world- pushing emerging economies into middle class, top ones becoming non-middle class (elites)
Consequences
Need of...
Ensuring Food availability
Ensuring Housing
Power and Electricity
Access to Transport
Greater Opportunities for Economic Activity Expansion
Increased Carbon Emissions
Declining Global Population
Shrink in Family Sizes
Fewer, well-educated children
What makes people Middle Class?
Daily income of $10-100(UN, OECD)
Have money to spend on extras (luxury goods)
UN said in 2013 that the global Middle Class population would rise from 1.8 billion (2009) to 3.2 billion (2020) and will increase to 4.9 billion by 2030
2030 Middle Class
Asia: 3.2 Billion
North America: 0.32 Billion
Europe: 0.68 Billion