20%

Finweek English Edition - - IN BRIEF - STAN­DARDS OF LIV­ING

Two in 10 South Africans claim to have a mid­dle class stan­dard of liv­ing, but ac­cord­ing to the In­sti­tute of Race Re­la­tions (IRR), 10% is a more ac­cu­rate rep­re­sen­ta­tion. The re­port re­lied on in­di­ca­tors rang­ing from house­hold spend­ing lev­els, to work­place se­nior­ity, ed­u­ca­tion lev­els, med­i­cal in­sur­ance cover, in­ter­net us­age, prop­erty own­er­ship, bank­ing pat­terns, and ap­pli­ance own­er­ship. Of con­cern is that SA’s weak eco­nomic growth rate will hin­der any sig­nif­i­cant fur­ther ex­pan­sion of the mid­dle class. Only a pol­icy re­form process that stim­u­lates GDP growth will en­sure that the mid­dle class grows sub­stan­tially in fu­ture.

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