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Indonesia Among Countries with Highest Inequality Increase

Erlina Fury Santika 19/09/2024 16:57 WIB

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According to a UBS report, several countries experienced the highest global increases in wealth inequality between 2008 and 2023. Indonesia ranks seventh on this list.

Percentage Increase in the Global Wealth Inequality Index Based on the Top 10 Countries (2008-2023)

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Percentage Increase in the Global Wealth Inequality Index Based on the Top 10 Countries (2008-2023)

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The UBS Global report titled *Global Wealth Report 2024* shows that Indonesia is among the countries with the highest increase in wealth inequality index between 2008 and 2023.

The percentage increase reached 15.1% over the past 15 years. This places Indonesia seventh globally in terms of the highest increase in the inequality index.

Indonesia's wealth inequality index, measured using the Gini ratio by UBS, reached 59 points in 2008. The score rose to 68 in 2023. A higher index score indicates a greater level of wealth inequality in the country studied.

(See also: [Countries with the Highest Global Inequality in 2023, Including Indonesia])

Singapore ranked first with a percentage change of 22.9%.

UBS explained that the high percentage increase in inequality does not necessarily make Singapore worse off than other countries, such as Hong Kong SAR, where inequality has decreased by almost 6%.

"Not necessarily. In fact, inequality is better understood when combined with the level of absolute wealth to provide a comprehensive picture of the society's wealth profile," wrote UBS, as quoted on Thursday (September 19, 2024).

Finland ranked second with 21%. Its inequality index score was 53 in 2008 and 64 in 2023.

Third was Spain with a proportion of 19.8%. Spain's inequality index score reached 47 in 2008 and 57 in 2023.

Others include South Africa, India, and Denmark.

Meanwhile, the countries with the highest decrease in wealth inequality index were South Korea (-8.1%); Hong Kong (-5.9%); and Germany (-5.4%).

Here are the 10 countries with the highest increase in wealth inequality index during 2008-2023:

* Singapore 22.9%
* Finland 21%
* Spain 19.8%
* South Africa 17.7%
* Brazil 16.8%
* India 16.2%
* Indonesia 15.1%
* Italy 14.9%
* Qatar 12.5%
* Denmark 11.3%

(See also: [The Share of Wealth in Developing Countries Continues to Increase])

Editor : Erlina Fury Santika

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."