Kenya Upper Class Income

Updated country income classifications for the world bank s 2020 fiscal year are available here.

Kenya upper class income. The world bank classifies the world s economies into four income groups high upper middle lower middle and low. Low income 1 035 or less. For this purpose it uses gross national income gni per capita data in u s. The upper class those who spend above sh200 000 a month stood at 3 6 per cent last year from one per cent in 2007.

Then it becomes apparent that there can t just be one monolithic middle class. And high income 12 616 or more. For kenya the entry into middle income level means a bigger market for local manufacturers and even regional manufacturers. Low lower middle upper middle and high income.

According to moody s survey kenya comprised of 400 thousand middle class and lower middle class both of which were at 4 in 2014 but as per their forecast by 2030 upper middle class will comprise of 0 1m upper middle class 0 middle class will comprise of 1 1m or 8 and lower middle class will comprise of 1 4m or 10 as illustrated below. Lower middle income 1 036 4 085. This income then dictates where you live what you eat what you wear the places you go what car you drive if at all you do. The kenya national bureau of statistics has adopted a different definition of the middle class as anyone spending between kshs 23 670 and kshs 199 999 per month.

The world bank classifies economies for analytical purposes into four income groups. The kenya national bureau of statistics has adopted a different definition of the middle class as anyone spending between ksh23 670 and ksh199 999 per month. So with simple maths on earnings an expenditure anyone earning between ksh30 000 and ksh300 000 qualifies as middle class under this definition. Upper middle income 4 086 12 615.

The median income of that group was 187 872 in 2016. According to the kenya national bureau of statistics knbs kenya s middle class includes anybody spending between sh23 670 and sh199 999 monthly. We have the upper middle class for whom richness or being a part of the upper class is just around the corner. Dollars converted from local currency using the world bank atlas method which is applied to smooth exchange rate fluctuations.

According to world bank atlas countries are stratified into. We base this assignment on gross national income gni per capita current us calculated using the atlas method. Afdb proceeds to classify the middle class into the upper middle class the lower middle class and the floating class with the third being the closest to the poverty line.