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Economy & Business - October-November 2012 (ISSN 1741-7430)
We’re (nearly) all middle class now
Latin America’s middle class numbered 152m people as of 2009, up 50% from 103m in 2003, according to a new World Bank eport. Defined in income terms as anyone making between US$10 and US$50 per day, the middle class made up 30% of the region’s population in 2009. Moderate poverty fell from more than 40% in 2000 to less than 30% in 2010, meaning that 50m Latin Americans escaped poverty over the decade.
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