SCB study reveals social mobility is booming in Pakistan

KARACHI: Nearly two-thirds (64%) of emerging affluent consumers in Pakistan are experiencing upward social mobility, a new Standard Chartered Bank study shows. Of these, 11% are enjoying ‘supercharged’ social mobility, not just relative to the previous generation, but compared to the rest of the socially mobile. The Emerging Affluent Study 2018 - Climbing the Prosperity Ladder - examines the views of 11,000 emerging affluent consumers - individuals who are earning enough to save and invest - from 11 markets across Asia, Africa and the Middle East. The average figure for social mobility among the emerging affluent across the markets in the study is 59%, and of these 7% are experiencing supercharged social mobility. Pakistan’s socially mobile, as identified by the study, have had impressive earnings growth, with almost half (44%) enjoying a salary increase of 10% or more in the past year, and more than a third (34%) seeing their earnings jump by 50% or more in the past five years.

Published in The Express Tribune, October 31^st, 2018.

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