The number of families that could be easily called very wealthy manifested the highest growth in the first half of this year.
Photo: Anna Polyanskaya
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Mid-Class Widened to 1/3
The number of families with annual income of above $20,000 grew to 17.3 million in the first half-year (up 45 percent vs. 2007), said the report of Rosgosstrakh Center for Strategic Research. With the average family strength of 2.7 members, it makes 47 million people, or a third of Russia’s population.
When compiling its survey, the analysts of Rosgosstrakh Center for Strategic Research were matching consumption of high-priced goods and services (flats, cars, tourist tours) with the income. The families that could be easily called very wealthy manifested the highest growth. Some 790,000 families had the annual income of $0.5 million (up 88 percent), while the number of families with the income of $0.5 million to $1 million surged 2.2 fold to 460,000. The number of families with the income above $1 million grew 57 percent to 330,000.
Given that in terms of quantity, the basic growth was ensured by the families with the annual income of $20,000 to $125,000, which number stepped up nearly 1.5 fold in the first half of the year, the expert conclusion is that the middle class (monthly revenues of $500 -$700 to $10,000 per capita) is strengthening in Russia. Above this line is another type of consumption with the potential for buying luxury goods, the analysts said.
According to official statistics of Rosstat, the share of the Russians with revenues starting from 25,000 ruble widened to 12 percent of the country’s population (vs. 10.1 percent in 2007), while the share of those with income of above 15,000 ruble (i.e. $20,000 a year per family) expanded to a third of the overall population of Russia (26.6 percent in 2007). Estimating the share of the rich isn’t easy due to the general unwillingness of the latter to discuss their income.
www.kommersant.com
All the Article in Russian as of Aug. 21, 2008
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