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Kayla Zhu
2024-08-21 12:37:49
www.visualcapitalist.com
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The Worst Countries For Wealth Inequality in 2023
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In 2023, the top 10% of the world owned nearly three-quarters of the world’s wealth, according to the World Inequality Database. But where in the world is wealth inequality the highest?
This graphic visualizes the 10 countries with the most wealth inequality as measured by the Gini index, using figures from the UBS Global Wealth Report 2024.
How the Gini Index Measures Wealth Inequality
The Gini Index quantifies the wealth disparity between the richest and poorest members of society. A score of zero represents perfect equality (everyone has equal wealth) and 100 represents maximum inequality (one person has all the wealth, and everyone else has none).
The index is calculated by comparing the current cumulative income distribution of a population to a scenario of perfect equality, with the difference between these two distributions representing the extent of inequality.
The Top 10 Countries by Wealth Inequality
Below, we show the top 10 countries with the highest wealth inequality in 2023 as measured by the Gini index, as well as their 2008 scores.
| Rank | Country | 2008 Gini index score | 2023 Gini index score |
|---|---|---|---|
| 1 |  South Africa |
70 | 82 |
| 2 |  Brazil |
70 | 81 |
| 3 |  United Arab Emirates |
88 | 77 |
| 4 |  Saudi Arabia |
89 | 77 |
| 5 |  Sweden |
74 | 75 |
| 6 |  United States |
76 | 75 |
| 7 |  India |
62 | 73 |
| 8 |  Mexico |
68 | 72 |
| 9 |  Singapore |
57 | 70 |
| 10 |  Indonesia |
59 | 68 |
Emerging markets, such as South Africa, Brazil, India, Mexico, and Indonesia, are well-represented in the top 10 list. These countries often face challenges like uneven economic development, limited access to education and healthcare, and significant income disparities between urban and rural areas.
While oil-rich Middle Eastern countries like the United Arab Emirates and Saudi Arabia generate substantial wealth, the distribution of that wealth can be highly unequal, often concentrated among a small elite.
The United Arab Emirates is projected to attract the highest number of millionaires in 2024, with an estimated 6,700 expected to relocate there by the year’s end.
In 2022, the top 1% of adults in the United Arab Emirates held 43.5% of the country’s total wealth.
Learn More on the Voronoi App
To learn more about the wealthiest countries in the world, check out this graphic that shows the world’s richest countries by GDP per capita.
The post Ranked: The Countries With the Highest Wealth Inequality appeared first on Visual Capitalist.
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