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South Asia is projected to experience the largest decline in its middle class population globally due to the COVID-19 pandemic and the global recession. The region's middle class population is expected to decrease by 32 million, from 123 million to 91 million.
A decline of 19 million is also predicted in East Asia and the Pacific. In Latin America and the Caribbean, and in the Middle East and North Africa, the decrease in the middle class population is estimated at 8 million each.
Conversely, the projected middle class population in developed countries, as well as in Europe and Central Asia, is expected to increase to 104 million and 184 million, respectively. This is attributed to downward mobility from the upper class.
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."
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