Upper Middle Class Income Philippines

A 2018 pids study 3 provides deeper insights into the middle class in the philippines.

Upper middle class income philippines. The government defines the middle class as those earning incomes between two to 12 times the poverty line. The philippines is also projected to be a trillion dollar economy by 2032 according to the economist. A household income of approximately 19 040 to 114 240 per month. After middle income class only two classifications are left.

Middle middle income between four and seven times the poverty line. The low income class meanwhile earns an average of p9 061 per month or around p110 000 per year. 2015 has achieved upper middle income status in 2010. Based on the data from different sources above for a family to be considered as part of the middle class they must meet the following criteria.

The upper income class and the rich. The bigger your family size is the higher your income should be in order to fit into this classification. The philippines is currently a lower middle income country with a gni per capita of between 996 and 3 895 gni per capita is a country s gross national income divided by its mid year population. This translates to around p500 000 per year.

But to achieve the set goal of becoming upper middle income the philippines needs to expand its economy by half and ensure that more filipinos accumulate wealth. The middle class on the other hand earns an average of p36 934 per month. This means if your family income is between around php 21 000 and php 125 000 you fall in the middle income class. Upper middle income between seven and twelve times the poverty line.

73 367 to 125 772. 41 924 to 73 367. With the higher gdp numbers steadily posted by it in recent years the philippine economy appeared to be on the way to be reclassified from low middle income economy which had been its classification for several decades to an upper middle income economy. The philippines is on the threshold of becoming an upper middle income economy which will help to drive strong growth in the size of the domestic consumer market and foster industrial development biswas said.

The report also said about 13 percent of middle income households had a member working as an overseas filipino worker ofw with most of them belonging to the upper middle income group. Various government officials have been trumpeting with increasing frequency that the philippines is set to join the ranks of upper middle income countries by 2019. While macro economic fundamentals in the philippines are currently strong and the trajectory of economic.