The world population crossed the 7 billion mark this year. The majority of this population lives in the developing world. According to The Global Wealth Report published last by Credit Suisse last year, about 92% of the world’s population can be classified as part of the middle, the upper middle and the lower classes. The 334 million in the upper middle class presents a large group for significant earnings growth potential for the banking industry. The Occupy protest movement in the US and other the developed countries is a manifestation of the class struggle between those at the bottom of the pyramid (the 99%) vs. those at the top of the pyramid (1%).
The Global Wealth Pyramid
Click to enlarge
Source: The Global Wealth Report, The Credit Suisse Research Institute
