These lower-tier Chinese cities will have 2 million or more 'high-income' residents by 2030 | The Insight Files | Scoop.it

A new Economist report predicting income growth in China through 2030 finds that the number of cities boasting large numbers of high earners is set to skyrocket. According to the 'Chinese Consumer in 2013' report, 35% of China's population is predicted to be upper-middle class or above by 2030. This will amount to about 480 million people, marking a massive increase from the current estimate of 132 million upper-middle class people in China (10% of the population). Growing incomes will lead to diversified spending and a demand to upgrade to more premium brands and expensive options. Find out more.