Income distributions in 16 different countries of the world, divided into 6 global regions!
Throughout the 19th century, roughly 80% of the global population lived in what we would now consider extreme poverty. And as earnings and living conditions have improved dramatically since then, they haven’t done so evenly across the world. There are still vast income gaps, both between different countries and within them.
To highlight these global income discrepancies, the chart by Ruben Berge Mathisen shows the income distributions of 16 different countries in U.S. dollars around the world, along with the world average. The chart was created using income data from the World Inequality Database (WID) 2021 on an adult basis.*
On a global scale, adults making an annual income greater than 124,720$ make it into the 99th percentile, meaning they make more than 99 % of the worldwide population (top 1%).
However, things change when you zoom in on specific countries.
A look at all the countries shows how much annual income is needed (at minimum) to be in the top 1%. People in America’s top 1% make at least 336,953$ in annual pre-tax income. That’s more than 100,000$ above the 1% of next closest countries, Germany (212,107$) and Canada (193,036$).
On the flip side, adults in Ethiopia only need to make 24,297$ to fall into the country’s 99th percentile. Ethiopia is one of the poorest nations in the world − according to estimates by the World Bank, about 27% of Ethiopia’s population is thought to be currently living under the poverty line.
It is also noticeable how much income varies within each country.
One example is Colombia, which has one of the largest wealth gaps of any country on the list. The 99th percentile in Colombia is making an annual income that’s 192x higher than its 10th percentile. In contrast, an income in the 99th percentile in the United States is 83x higher than the 10th percentile.
Colombia’s high level of income inequality stems from early childhood disadvantages, such as lack of access to education, which can limit opportunities later on in life.
⪼ What impact do these inequalities in income distribution have on you?
⪼ ... resp. your company, your employees, your country, your region and globally?
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*Source: www.visualcapitalist.com/cp/charting-income-distributions-worldwide/
