Nearly 11% of Mexicans Are Defined as Middle Class Mexico News Daily
go to original October 18, 2015

Although more than half its population is living below the poverty line, Mexico has a middle class that has proved robust in the wake of financial woes and the number of millionaires is predicted to grow by more than 80,000 over the next five years, according to a report by financial services firm Credit Suisse.

Just over 10.8% of Mexicans, or 12.9 million people, are defined as middle class, which the Credit Suisse Global Wealth Report 2015 (pdf) says means they have at least US $50,000 in assets excluding earnings. It is a sector of the population that is estimated to hold around 40% of the country’s total wealth, equal to $790 billion.

Moving up on the wealth scale, millionaires number 122,000 and make up just 0.2% of the population.

Meanwhile, 56.7% of Mexicans live on less than $10,000 per year.

Read the rest at Mexico News Daily

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