The middle class in wealthy countries like the US may be shrinking, but it’s growing in countries like Pakistan.
Relative stability in politics and national security has paved the way for upward economic mobility for the Asian country’s 200 million people. The poverty rate has fallen more than 50 percent since 2002, creating a 38 million-strong middle class.
Consumer products giants like Nestlé say demand in Pakistan is surging along with growing disposable incomes. Pakistani homes are increasingly equipped with middle-class products like TVs, washing machines and refrigerators.
The so-called “developing world,” particularly in Asia, is expected to be home to 64 percent of the global middle class by 2030.
Photo credit: Glassdoor