Expanding the Middle Class: Towards Inclusive Growth

The Philippine middle class has grown steadily, now representing over 40% of the population and serving as a key driver of consumption, investment, and economic resilience. Their rising income and aspirations fuel demand across housing, education, healthcare, consumer goods, and the digital economy, making them central to inclusive growth. Yet structural vulnerabilities mean sustaining this expansion requires multipronged policies in jobs, social protection, and human capital development.

A publication of the School of Economics, University of Asia and the Pacific, Philippines

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