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Yoma estimates middle-class population to reach 10m by 2020

Yoma claims the number of middle-class earners will reach 10 million in Myanmar by 2020 and that they will be looking to expand their businesses to serve them.

Company CEO Melvyn Pun said on May 30 that their aim was to serve as the forerunner in Myanmar’s food and beverage industry.

Yoma Strategic Co has estimated that the number of public consumers earning middle-class income or more will reach up to 10 million by 2020.

In the post-dictatorship rule, the country’s rich-poor gap became larger.

According to CDP’s report of UNECOSOC, published every three years, Myanmar has a population of over 53 million and gross national income-GNI of US$1,255. Although the government has set K4,800 as minimum daily wage, Myanmar is still on the list of world countries with lowest wages.

JobNet.com.mm conducted a survey on about 300 human resource experts in December last year and found that those working for international companies have salaries two or three times more than those for local companies.

Source : Eleven Myanmar

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