Quick Answer: Which Country Has Biggest Middle Class?

Does China have a large middle class?

China’s middle class expanded substantially as its urban population grew from constituting 19 percent of its population in 1980 to reach 58 percent in 2017.

In 2000, just four percent of China’s urban population was considered to be middle class, rising to over 30 percent in 2018..

Does France have a middle class?

purchasing power parities – about the same as the OECD average. Similarly, the middle class have an income level (US$ 20,000) similar to the OECD average. However, the poorest 10% of the French population have an income of almost US$ 9,000 per year – about 25% higher than the average for OECD countries.

What percentage is middle class UK?

59%And the cost of essential elements of the middle-class lifestyle — especially housing — have increased faster than inflation. The study finds that the UK’s middle class comprises 59% of the population, which is slightly smaller than the OECD average of 61%.

What is the average income in China 2020?

A person working in China typically earns around 29,300 CNY per month. Salaries range from 7,410 CNY (lowest average) to 131,000 CNY (highest average, actual maximum salary is higher). This is the average monthly salary including housing, transport, and other benefits.

What is USA middle class?

Middle-income households – those with an income that is two-thirds to double the U.S. median household income – had incomes ranging from about $48,500 to $145,500 in 2018.

When was the middle class the largest?

Income data released by the U.S. Census Bureau shows that 2017 median household income was the highest on record at $61,372. 5 Pew defines the middle class as those earning between two-thirds and double the median household income.

How much does a average Chinese person make?

In 2019, an employee in the urban regions of the Chinese Hebei province earned around 72,956 yuan per annum on average. The national average reached about 90,501 yuan in 2019….Average annual salary in yuanGuangdong98,889Jiangsu96,527Qinghai90,929Average90,5019 more rows•Nov 16, 2020

How rich is the average Chinese person?

By regionRegionMedian wealth per adult (US dollars)Mean wealth per adult (US dollars)China20,94258,544World7,08770,849Latin America4,92922,502Asia-Pacific (excluding China and India)4,18854,2114 more rows

Which country saw the rise of the middle class?

ChinaThe idea of an extant middle class in China has often been the primary driver of foreign investment and other business activities in the country. It has been widely noted that China’s savings rate is one of the highest in the world.

What salary is considered rich UK?

It shows that anyone earning above £75,300 is in the top five per cent of taxpayers. In 2017, polling firm Yougov looked into what kind of salary Britons think makes a person “rich”. The results showed that people in the UK think the top 10 per cent of earners – those bagging on average £60,500 a year – are wealthy.

Is 60k a good salary UK?

A good rule of thumb in the UK is that if your salary in £k is greater than your age you’re doing very well, so yes £60k for a 30 year old is excellent. £60k would be enough to support a family single-handed with a nice house and a good standard of living.

Which countries have a growing middle class?

China and India, generating the new middle class. Since 2009, China has been responsible for the entry of around 700 million people into the ranks of the global middle class: 40% of all new entrants. Furthermore, the sum of China and India has contributed around 60% of the new middle class (some 1.0 billion people).

Is Canada poorer than us?

The US has a median wealth of $61,667 per adult, which puts the country at number 18, well behind others, including Ireland ($72,473), Taiwan ($78,177), and Korea ($65,463). Canada, on the other hand, comes in at number six, with an average wealth of $106,342 per adult.

What is middle class income in UK?

As of 2011 the established middle class had an average household income of £47,000 a year and owned a home worth an average of £177,000 with average savings of £26,000. Many were graduates, and a majority of their members work in the professions or management. Many originated from professional and managerial families.

Which country has the fastest growing middle class?

AfricaAs a result, Africa now has the fastest-growing middle class in the world.