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Data for upper middle income south africa from the world bank.
Upper class income south africa. The upper income limit may not appear to be very high but is in fact very exclusive only the top 4 of households the elite in south africa receive more monthly income than this. According to the data to be among the richest 1 of south africans you need a household income of r48 753 per month after tax. By this measure a rather impressive 43 2 of south africans were middle class. The bank did distinguish between a floating class consumption between us 2 us 4 lower middle class us 4 us 10.
The bank did distinguish between a floating class consumption between us 2 us 4 lower middle class us 4 us 10 and upper middle class us 10 us 20 but all were grouped as middle class in this study. The bank notes that 62 3 of households fall within the poorest income bracket below r86 000 per annum while middle income groups r86 001 r1 48 million per annum comprise a combined 26 4 of south african households. By this measure a rather impressive 43 2 of south africans were middle class. My uncle is the logistics manager of ford south africa and he s earning about 110k a month which puts him at about the lower half of upper class.
The threshold used to determine middle class is the upper bound poverty line 2015 of. The wealthiest households in south africa only account for 1 2 r1 48 million r2 36 million per annum. This graph shows the make up of south africa s classes by race according to the world bank s report. Taking the above into consideration the value to be considered a hnwi in south africa is more or less on par with the 1 million used by researchers in that the average rich person who.
The richest 10 take home r7 313 a month.
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