Quick Answer: What Country Has The Greatest Income Inequality?

Which countries have the greatest income inequality?

GINI index (World Bank estimate) – Country RankingRankCountryValue1South Africa63.002Namibia59.103Suriname57.604Zambia57.10117 more rows•Dec 28, 2019.

Which country is the most unequal?

South Africa is the most unequal country in the world and its poverty is the “enduring legacy of apartheid”, according to a report by the World Bank. Inequality in the country has increased since the end of the apartheid with black South Africans at the highest risk of poverty, the report found.

Which region has the highest levels of income inequality?

Latin America and Africa have the highest inequality with a Gini of 48.82 and 44.26, respectively, whereas Europe and more advanced economies have lower income inequality.

What country has the biggest wealth gap?

United StatesUnited States is the richest country in the world, and it has the biggest wealth gap. The United States led the world in growth of financial assets last year thanks to tax cuts and booming stock markets, but its distribution of wealth was more unequal than in any other country, according to a study published Wednesday.

What are the 5 reasons for income inequality?

5 reasons why income inequality has become a major political issueTechnology has altered the nature of work. … Globalization. … The rise of superstars. … The decline of organized labor. … Changing, and breaking, the rules.

Who controls the World Wealth?

According to the OECD in 2012 the top 0.6% of world population (consisting of adults with more than US$1 million in assets) or the 42 million richest people in the world held 39.3% of world wealth. The next 4.4% (311 million people) held 32.3% of world wealth. The bottom 95% held 28.4% of world wealth.