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The rise of the middleclass

21 Jul

Kenya’s middle class has recently grown by about 10%, making it home for one of the largest middle class populations in sub-Saharan Africa. It has become a booming economic center complete with multinational businesses, towering office buildings and a growing middle class.

The rise of the middle class citizens which currently stands at 44.95%, places the country well above the average for the whole of Africa.

So who is the middle class?

The middle class is basically defined largely in terms of higher income relative to the average. That is usually individuals with an annual income “exceeding USD3.900 in purchasing power parity terms”

Other factors that are important in defining the middle class include other variables such as education, professions, aspirations and lifestyle.

So in a nutshell,economic growth is the main factor that has determined the rise of the middle class, ultimately leading to a boom in other industries such as the property and tourism.

 
 

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