The growth rate of the number of rich people in Indonesia is accelerating, according to economic observer Cyrillus Harinowo Hadiwerdoyo.
At a seminar on Monday at the Banjarmasin branch of Bank Indonesia, Harinowo said that between 2010 and 2011, the number of wealthy Indonesians grew from 30 million to 36 million. He predicted that by 2015, the number would rise to 60 million.
Indonesia’s middle class has also grown from 131 million in 2010 to 140 million today, according to Harinowo.
Despite the recent growth in the Indonesian economy, Harinowo noted, a significant portion of the population still lives in poverty. According to the World Bank, there are just over 30 million people living under the poverty line today.
He noted fast growth in the automotive industry, citing Toyota, Suzuki, Ford and Daihatsu as manufacturers with planned expansions in production capacity. He suggested that these plans are indicative of good prospects and strong economic growth for the country, and representative of a larger trend: Indonesia has become a good market for high technology and farm products.
He referred as well to General Motors’ plan to build a factory in Bekasi, announced last year.
“Many international companies such as Starbucks have closed down their outlets, but in Indonesia the number of Starbucks outlets has continued to increase—now reaching 120 units,” Harinowo said.