Indonesia's Richest 1% Control 46% of the Nation's Wealth

The 2018 Global Wealth Report released by Credit Suisse shows that the richest 1% in Indonesia control 46.6% of the total wealth of adult residents. Meanwhile, the richest 10% control 75.3% of the total wealth. This means that the government's development efforts have only benefited a select few wealthy individuals in the country. This situation also indicates that wealth inequality in Indonesia remains quite high, posing a serious problem in the future.

In Asia, Indonesia's wealth inequality ranks third after Thailand and India. In Thailand, the richest 1% control almost 70% of the total wealth of adult residents. In India, the richest 1% control half of the total wealth of adult residents. In contrast, the richest 1% in Japan only control 18% of the total wealth of adult residents, indicating a more even distribution of wealth in Japan.

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The total adult population in Indonesia is 170.22 million, with a total wealth of US$1.518 trillion or Rp 22,700 trillion (using an exchange rate of Rp 15,000 per US dollar), resulting in an average wealth per adult of US$8,919. 89,000 of the wealthiest Indonesians have assets exceeding US$1 million (Rp 15 billion). Global adult wealth reached US$317 trillion this year and is projected to increase to US$399 trillion by 2023.

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