Over 90% of disaster-related fatalities worldwide take place in low- and middle-income nations. 75% of the world's population and 62% of its impoverished live in middle income countries, which are diverse in size, population, and income level.
MICs are significant contributors to global economy and account for around one-third of the world's GDP. Low-income economies are those that, as of July 1, 2019, have a GNI per capita determined using the World Bank Atlas methodology. Lower-middle income and upper-middle income economies make up MICs. od, in 2018 of $1,025 or less.
A per capita income threshold of $250 was used to distinguish between "low income" and "middle income" countries in the first World Development Report, published in 1978.
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