2 Billion People In Brazil, China And India Are Aspiring For A Middle Income Life
Some fascinating facts, as you consider your next startup, think about how it will improve the lives’ of these people ?
Just over 1 billion people in India (76.9% of 1.37 billion), 900 million people in China (65.6% of 1.386 billion), 91.5 million people in Brazil (43.6% of 210 million) are classified as being in “Low Income”, just a step above poor, and a step below being middle income. Far below upper middle income and high income. That’s 2 billion people aspiring to make it to “middle income” in just these 3 countries alone (Brazil, China and India)!
Compare with other “developed” countries, % of low income population:
- 1% — Canada,..~360,000 people
- 2.6% — UK ..~1.7 million people
- 1.1% — Australia,..270,000 people
- 3.4% — US.. 11 million people
- 19.2% — Russia … 27 million people
49.4% — Nigeria ..largest country in Africa — 94 million are low income. Another 92 million in Nigeria are even worse off than that and are “poor”.
Population counts: http://www.worldometers.info/world-population/china-population/
The income groups are defined as follows: The poor live on $2 or less daily, low income on $2.01–10, middle income on $10.01–20, upper-middle income on $20.01–50, and high income on more than $50; figures expressed in 2011 purchasing power parities in 2011 prices.
Footnotes: Source: Pew Research Center analysis of data from the World Bank PovcalNet database (Center for Global Development version available on the Harvard Dataverse Network) and the Luxembourg Income Study database
Updated August 13, 2015: This new edition includes corrected estimates for Iceland, Luxembourg, the Netherlands and Taiwan, and some related aggregated data.
