Global Sherpa Weekly, by Global Sherpa: Globalization, Development, Sustainability, World Cities & Rankings
Africa – " “African Development Bank predicts Africa’s Middle Class will continue an expansion that has captured the attention of Multinational Companies. The number of Africans earning between $4 and $20 a day will balloon from 355 million people today – to a number on par with India and China. A level at which African’s discretionary spending increases beyond the bare necessities of food and shelter.” A report from the McKinsey Global Institute seems to support the numbers coming from ANB. According to the McKinsey Global Institute, household consumption in Africa is significantly higher than in India or Russia, and is only expected to jump by more than 50% to almost 130 Million by 2020."
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