A Comprehensive Overview of Middle-Class Standards in Asia: Does Your Income Meet the Criteria?

Question

The Asian middle class is experiencing explosive rise. According to data from the World Economic Forum, the Asian middle class reached 2 billion people in 2020, and is expected to exceed 3.5 billion by 2030. However, the definition of “middle class” varies from country to country—cost of living, family size, and economic development levels all influence the criteria.

Let's take a look at the middle-income line of 8 Asian countries:

Vietnam: Annual income of $6,000-$18,000. The cost of living in Hanoi and Ho Chi Minh City is higher, and a comfortable lifestyle requires being close to the upper limit.

India: Annual income ₹500,000-3,000,000 (approximately $6,000-$34,000). The middle class in India is expected to reach 800 million by 2030, with ₹7,000-₹23,000 needed in Mumbai, Delhi, and Bangalore to live a decent life.

South Korea: Annual income ₩2.4 million - ₩6 million. As an advanced economy in Asia, the quality of middle-class life in Seoul, Busan, and Incheon is significantly higher than in other countries.

Philippines: Annual income $4,800 - $24,000. Policy support and urbanization drive the expansion of the middle class.

China: Annual income ranges from $3,600 to $18,250, but there are significant urban differences. In first-tier cities (Beijing, Shanghai, Shenzhen), a comfortable living requires an annual income of ¥200,000 to ¥600,000 ($28,000 to $85,000). The wealth gap is evident.

Indonesia: Annual income of approximately ₨600,000-3,600,000 ($3,900-$23,400). Major cities like Jakarta and Surabaya demand higher.

Thailand: Annual income ฿200,000-1,000,000 ($6,000-$30,000). The growth of the middle class is driven by tourism and industrial development, with significant cost differences in Bangkok, Chiang Mai, and Pattaya.

Japan: Annual income ¥3 million - ¥8 million (annual salary $30,000 - $80,000). The once stronghold of the middle class is now under pressure - “the impoverishment of the salary class” and unstable employment for young people have become new challenges.

Core Observation: Although both are called “middle class”, the standards in Vietnam and India are less than half of those in Japan and South Korea. The stage of economic development determines the income threshold, but the momentum of the expansion of the middle class in Asia is unstoppable—this signifies a huge opportunity in the consumer market.