In 2021, the top 1% of the world's population held 38% of the world's wealth, whereas the bottom 50% had just 2% of it.
Since
1995, the share of global wealth possessed by billionaires has risen
from 1% to over 3%, and the pandemic in 2020 has marked the steepest
increase in global billionaires’ share of wealth.
On average, an
individual from the top 10% of the global income distribution earns
$122,100 per year, whereas an individual from the poorest half of the
global income distribution makes $3,920 per year.
There are
variances between regions, in Europe, the top 10% income share is around
36%, whereas in MENA (Middle East and North Africa) it reaches 58%. In
between these two levels, we see a diversity of patterns. In East Asia,
the top 10% makes 43% of total income and in Latin America, 55%.
The
wealth distribution in the two largest democracies, the U.S and India,
remain highly unequal. In The U.S, the top 1% held 35% of the country's
wealth and in India, it was 33%. Similarly in China, the top 1% held 31%
of the national wealth in 2021
Human Development Index ( HDI ) 2021 measures the average achievement in three basic dimensions of human development—a long and healthy life, knowledge and a decent standard of living. The health dimension is assessed by life expectancy at birth. The education dimension is measured by the mean of years of schooling for adults aged 25 years and more, along with expected years of schooling for children of school entering age. The standard of living dimension is measured by gross national income per capita. The pandemic dealt a serious blow to human development worldwide. In the 2021 index, 90% of countries saw their HDI value drop. Only a third of very high HDI countries saw a decline in 2021 (compared with over 90% in 2020), whereas HDI scores of 60% of low, medium and high HDI countries declined.
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