The middle classes are growing
The global population is not only growing, its composition is also changing in some very important ways. Over the next few decades, the number of people considered to be in the ‘global middle class’ is projected to more than double, from 430 million in 2000 to 1.2 billion in 2030 (or from 7.6% of the world’s population to over 16%). To put the source and magnitude of this growth in perspective, the World Bank predicts that by 2030, 93% of the global middle class will be from developing countries.
In the opinion of many seasoned investors and analysts, the growth in consumption driven by a rapidly expanding middle class in emerging markets could prove to be the defining investment theme of the next two decades.
