The World Bank Says More than 100 Countries Risk becoming Stuck in a “Middle-income Trap”

It said countries, including South Africa, India, Brazil and China, face serious obstacles that could hinder their efforts to become high-income countries in the next few decades. The World Development Report 2024: The Middle Income Trap found that as countries grow wealthier, they usually hit a “trap” at about 10 per cent of annual US GDP per person. In the study, the World Bank said middle-income countries face far bigger challenges than their predecessors, “rapidly aging populations, rising protectionism in advanced economies, and the need to speed up the energy transition”.

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