More than 80% of them will be in Asia.

The global middle class, also called the consumer class, will add 113 million people next year and an overwhelming majority of them - 81% or 91 million - are in Asia, according to World Data Lab (WDL), a data enterprise that produces the most consistent estimates for spending and demography. 

Africa will account for 10% of growth, Latin America 6%, and the rest of the world – including Europe – just 5%.

Defined as someone who spends at least 12 and maximum 250 U.S. dollars per day, most of the rising middle-class individuals will originate from China (31 million) and India (33 million). Both countries have massive populations, rising income levels, and high rates of urbanization.

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Notable new consumer populations will be contributed by Indonesia (5 million), Bangladesh (5 million), Vietnam (4 million), Pakistan (3 million), Philippines (2 million), Türkiye (1 million), and Thailand (1 million).

These countries have an expansive population growth and some of the fastest e-commerce markets in the world.

The WDL report also highlights that Egypt and Nigeria are the only countries from the Africa region that will contribute more than 1 million consumers in 2024. The two countries are characterized by their high growth potential and above-average birth rates, and both are set to surpass the traditional economic leaders like Japan, Germany, and the UK by 2075.

Credit: VisualCapitalist

The overall size of the world’s middle class varies depending on the criteria used for assessment. Pew Research, for example, says the middle-class population increased from 899 million in 2011 up to 1.34 billion in 2019, but here it counts individuals who live on 10.01-20 dollars a day. 

Meanwhile it also makes a distinction for the lower middle class (2.01-10 dollars daily), who make up more than 3.9 billion, and the upper middle class (20.01-50 dollars daily), who account for over 1.4 billion people.

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