Countries with the highest disparity in wealth

Countries with the highest disparity in wealth

Global wealth has grown since 2012. In fact, there’s an estimated $153.2 trillion in personal wealth worldwide, according to the 2015 Allianz Global Wealth Report.

But the wealth has not been evenly distributed, according to researchers who analyzed figures from 2014.

“Global wealth middle class swells considerably 3.5 billion people in the countries included in our analysis, or 71% of the total population, belong to the wealth lower class,” states the report. “This group‘s share of the world‘s net financial assets is in stark contrast to its size, with less than five percent of total net financial assets in their hands. The situation among the wealth upper class is the exact opposite: although only just under ten percent of the total population of the countries we analyzed (420 million people) can count themselves as members of this group, the wealth upper class holds around 80% of the world‘s total assets.”

 

The biggest offender of wealth disparity is the U.S., or as the report describes as the “Unequal States of America.” Researchers blamed the the “sluggish economy recovery” for the “dramatic deterioration in wealth distribution.”

 

“The world‘s developed countries, on the other hand, paint a much more heterogeneous picture, with exceptionally large gaps between both the levels of, and the rates of change in, the Gini coefficients. Most of these countries have seen a (sometimes considerable) increase in the inequality of distribution in recent years,” the report reads.

 

The following countries have the highest Gini coefficient, a measure of statistical dispersion:

 

  1. U.S. at 80.56
  2. Sweden at 79.90
  3. United Kingdom at 75.72
  4. Indonesia at 73.61
  5. Austria at 73.59
  6. Germany at 73.34
  7. Colombia at 73.18
  8. Chile at 73.17
  9. Brazil at 72.86
  10. Mexico at 70.00

 

As a whole the 62 richest billionaires in the world have as much wealth as the bottom half of the world’s population, according to a 2016 report by Oxfam International. The billionaires saw their net worth increase by half a trillion dollars between 2010 and 2015, the report says. The report also found the poorest 20 percent of the world’s population live on less than $1.90 a day