As I have begun my research and networking to learn more about Brazil before I go to work there this summer, I have been continually told “there is a large upper class and a very large low class and no middle class”. This spurred a thought. As we know Brazil has the 6th largest economy in the world and is growing rapdily so how can such a large economy have no middle class? (I also want to research and understand why this idea exsits… future blog post?)
This is not so much the truth anymore or is it? According to the recent article that I have linked, Brazil’s middle class now comprises 52% of the population. They base this off a monthly income of R$291 to R$1019 per month. However, based on the current exchange rate that is $148.33 to $519 american per month. And I have heard that it is also not so cheap to live there. So this leads me to wonder how fair and accurate their definition of middle class is and if it is better and what that means to the people?
One refeshing quote that I do take from this article reads, “It’s essential to have an environment that promotes the participation of the middle class in economic growth. For this to occur, we need productive, well-paid and low turnover jobs. We must also ensure equality in opportunities, openness to dialogue and appropriate conditions for health and safety”…. It is going to be extremely interesting to see how Brazil’s development unfolds (and I get to see it first hand this summer-will keep you posted!)
Thoughts? Have you experienced this in your travels to Brazil, what was it like?