Figure 2-2. Average global wealth variation across countries and regions. Levels of wealth (USD) are measured as wealth per adult.
Figure 2-2 shows the distribution of wealth across the world, varying from one country to another.1Oxfam reports from this year have revealed that nearly half of the world’s wealth is owned by one percent of the world’s population. 2 Whilst some economic inequality is required in a healthy economy to drive growth and to reward those who contribute and work hard in society, such extreme disparity in wealth does the opposite of encouraging this. Extreme economic inequality can lead to the exacerbation of social problems, which have eventual negative impacts on population health.
The richest countries are in North America, Western Europe, include Australia and other Asia-pacific and Middle Eastern countries, highlighted in red. The levels of health in these countries are more than USD$100,000 per adult.1Some European Union (EU) countries such as Portugal, Malta and Slovenia, belong to the “intermediate wealth”group with levels of wealth ranging from USD$25,000 to USD$100,000.1
Countries such as China, Russia, Indonesia, South Africa Brazil, Philippines, Egypt and Iran have levels of wealth ranging from USD$5,000 to USD$25,000. These nations cover a large area of the world and are also highly populated.1 The countries with wealth levels below USD$5,000 are in Central Africa and South Asia.1[youtube:http://www.youtube.com/watch?v=WX-tEWNL_e0%5D
Wealth Distribution- looking at Africa, Asia-Pacific, China, Europe, India, Latin America and North America
Figure 3 shows that in Africa 91.4% of adults earn less than USD$10,000 in comparison to the world where only 68% earn less than USD$10,000.1 94.4% of adults in India earn less than USD$10,000. But the proportion is 47% in Europe, 58% in China, and 31% in North America. In contrast, only 26% of adults in Europe and 37% of adults in North America earn more than USD$100,000.1
- Credit Suisse (Switzerland). Global wealth Databook 2013 [Internet]. Credit Suisse (Switzerland); 2013 [cited 2014 Apr 8]. Available from: http://www.international-adviser.com/ia/media/Media/Credit-Suisse-Global-Wealth-Databook-2013.pdf
- Oxfam. Oxfam briefing paper 2014 [Internet]. Oxfam (Australia); 2014 [cited 2014 Apr 8]. Available from: http://www.oxfam.org/sites/www.oxfam.org/files/bp-working-for-few-political-capture-economic-inequality-200114-summ-en.pdf