
There are more than 88,000 millionaires in Russia. That's nearly three times as many per capita as there are in China.
Some 3.5 million Russians earn around $50K a year and about 8 million earn around $25K.
It may not seem like much, but when there is a flat 13% income tax (Is anyone in Congress listening?) and housing and utilities are subsidized, AND the average savings is around 10%...the Russians have a lot left over to spend.
How much do you make? Multiply that by 70% and go shopping. That's what the Russians are doing. I read that 70% of the Russian income is disposable as opposed to 40% in the West.
It's also the reason there is a PRADA boutique in Moscow among other high-end products.
Are you offering your products in Russia? Planning to?
Why not?









Wow -- that's a lot of bucks packed into one bank! Thanks for the facts Bill. Hey, I have a question though. How does the fast rise to millionaires relate to the horrid descrimation against minorities that threatens parts of Russia (such as St. Petersburg), as reported in today's news? Is there any link?
Posted by: Ellen Weber | March 30, 2006 9:28 AM | Permalink to Comment