Euromonitor Identifies World's Top Countries With Fastest-Growing Middle Class

For the period 2015 to 2030, China, India, Indonesia, Nigeria, and the Philippines are forecast to have the fastest-growing middle class, according to Euromonitor International. Factors that are expected to make the middle class the “prominent consumer force” in these emerging countries include their growing size, strong income growth prospects, and a median income exceeding US$10,000 per household in 2030. According to Euromonitor, China will remain the world’s largest middle class despite its economic slowdown, while India is forecast to be among the top countries in terms of growth in median income. In Indonesia, middle-class households are expected to gain more purchasing power, while Nigeria’s middle class is forecast to reach 15 million in size by 2030. Economic growth stability and improved income distribution will drive the middle class in the Philippines to grow 41.8 percent.