While Kenya has a growing entrepreneurial middle class and steady growth, its economic development has been impaired by weak governance and corruption. Although reliable numbers are hard to find, unemployment and under-employment are extremely high, and could be near 40% of the population.
Which country has the fastest growing middle class?
As a result, Africa now has the fastest-growing middle class in the world. Some 313 million people, 34% of Africa’s population, spend USD 2.20 a day, a 100% rise in less than 20 years, according to the African Development Bank.
What percentage of Kenyans are middle class?
According to them, 44.9 percent of Kenya’s population is middle class. On the other hand, the Kenya National Bureau of Statistics (KNBS) says that a Kenyan middle class person spends between KES 23,670 and KES 199,999 each month.
How much does a middle class earn in Kenya?
According to the Economic survey 2017 by the Kenya National Bureau of Statistics, the lower income group comprises households with a monthly income of Kshs 23,670 and below; while middle income group comprises households with incomes ranging between Kshs 23,671 and Kshs 119,999 and finally the Upper income group enjoys …
Is the middle class growing in Africa?
About 170 million out of Africa’s 1.3 billion people are now classified as middle class. … Africa’s middle class tripled over the past 30 years, by some estimates, spurred by job opportunities in sectors like technology, tourism and manufacturing.
Is Chinese middle class growing?
Based on Pew’s income band classification, China’s middle class has been among the fastest growing in the world, swelling from 39.1 million people (3.1 percent of the population) in 2000 to roughly 707 million (50.8 percent of the population) in 2018.
How many Chinese middle class are there?
Officially about 400 million Chinese are categorised as middle income, which is generally defined by the National Bureau of Statistics as a family of three earning between 100,000 yuan (US$15,200) to 500,000 yuan annually, though the definition is not always consistent.
How many people in Kenya earn more than 100000?
Of the 2.92 million regular workers recorded in the Kenyan Revenue Service (KRA) database, 2.9% have incomes of Sh 100,000 or higher.
Who is middle class in Kenya?
The African Development Bank (AfDB) defines middle class as anyone who spends between $2 and $20 a day (Sh200 and Sh2,000) — putting the middle class at 34 per cent of Africa’s population, or nearly 350 million people.
What is the median income in Kenya?
The median salary is 141,000 KES per month, which means that half (50%) of the population are earning less than 141,000 KES while the other half are earning more than 141,000 KES. The median represents the middle salary value.
Is 50000 a good salary in Kenya?
The salary of Ksh 50,000 is the average figure for Kenyans living in towns. If the budget is squeezed appropriately, the money can sustain one for a whole month and some remain for savings.
How can I survive 20k salary in Nairobi?
Surviving on a Ksh 20,000 salary in Nairobi
- Opt for neighbourhoods that fit your budget. With this kind of salary, do not pay house rent amount that exceeds half of your salary. …
- Keep ‘slay queen’ girlfriends at bay. …
- Make restaurant meals at home. …
- Opt for free entertainment options. …
- Save before you spend.
What is the best salary in Kenya?
The Highest Paying Jobs in Kenya today
- Finance. They are some of the most important players in many companies. …
- Medicine. Medicine is a well-paying job with high market value, what with medical graduates earning right after internships. …
- Piloting. A pilot’s profession is a highly paid one. …
- Architecture. …
- Politics. …
- Actuarial Science. …
- Law. …
Which country in Africa has the largest middle class?
We have already noticed that Gabon is the country with the largest proportion (75.27 per cent) of population belonging to the African income middle class.
Where is most of the growth in the middle class predicted to occur?
Asia is expected to have accounted for most of the shrinking of the global middle class in 2020, with the middle-class population falling by 32 million in South Asia and by 19 million in East Asia and the Pacific.
Is there a middle class in Ghana?
According to the African Development Bank (AfDB), 46% of Ghanaians are now classified as middle class compared to a continent-wide average of 34.3%. … In Ghana we consider that it is about 27% and we know that it is a very fragile class. It is a class that is always at risk of falling below the poverty line.”