Global 2023's Countries with the Highest Inequality: Indonesia Included

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Erlina Fury Santika 19/09/2024 14:38 WIB

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According to the UBS Global Wealth Report 2024, at least 10 countries have the highest global wealth inequality indices. Indonesia is among them.

Wealth Inequality Index Based on Top 10 Countries (2023)

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Wealth Inequality Index Based on Top 10 Countries (2023)

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The UBS Global report titled *Global Wealth Report 2024* assesses wealth inequality in several countries worldwide in 2023.

This wealth gap is measured using the Gini coefficient, on a scale of 0-100. Zero represents perfect equality, where everyone possesses the exact same amount of wealth.

A score of 100 signifies that one person owns all assets, and everyone else owns nothing—absolute inequality.

South Africa ranks first, with an inequality index of 82 points in 2023. This score surged 17.7% from 70 points in 2008.

Second is Brazil, with an inequality index of 81 points, a 16.8% increase from 70 points in 2008.

Third is the United Arab Emirates (UAE) at 77 points in 2023, a score matched by Saudi Arabia. However, wealth inequality in these two countries decreased by 12.4% and 13.3% respectively since 2008.

(Also read: [The Share of Wealth in Developing Countries Continues to Rise])

Fifth is Sweden at 75 points, a slight 1.2% increase from 74 points in 2008.

The remaining countries are the United States (75), India (73), Mexico (72), and Singapore (70).

UBS uses Singapore as an example, highlighting its near 23% increase in inequality since 2008. They question whether this is worse than Hong Kong SAR, where inequality has fallen by almost 6%.

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

Indonesia ranks tenth, with a wealth inequality score of 68 points in 2023. This score increased significantly by 15.1% since 2008, when it was 59 points.

(Also read: [Yogyakarta Experiences the Worst Economic Inequality in March 2024])

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."

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Global 2023's Countries with the Highest Inequality: Indonesia Included

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