To refine my answer a bit:
I would be more likely to write ". . . consequences on their [=the poor's] long-term interests" and ". . . consequences for their [=the industrialized nations'] long-term interests."
From the Department of Linguistics, MacQuarie University, Sydney, Australia: "It is becoming increasingly clear, however, that this laissez-faire approach has had deep negative consequences on
a whole generation of students and teachers." http://www.ling.mq.edu.au/centres/sc/june1995.htm
A Google search of "consequences on" gives 1,850,000 hits. While certainly not a guarantee of accuracy, it does show usage.
From msn.encarta: "It is clear that the killing of the albatross brings dire consequences on
From the Journal of International Business Studies: "What are the necessary changes that might be needed to accommodate and deal with some of the destabilizing consequences on
well established social and cultural practices?"http://www.palgrave-journals.com/jibs/asia_an...
From the Graduate School of the University of Louisville, "Guidelines for the Preparation and Processing of Dissertations": "And Chapter Four links writing assessment as social change to ethical inquiry, arguing that vigorous inquiry into
the validity of writing assessments— including their social consequences on
individuals and writing programs—is imperative research to conduct, as it is a means of reflecting upon and changing the course of writing assessment."
I hope this helps you decide.