South Africa Had The Worst Wealth Inequality in 2023

What We're Showing

The 10 worst countries for wealth inequality as measured by the Gini index.

Figures come from the UBS Global Wealth Report 2024.

About the Gini Index

The Gini Index quantifies the wealth disparity between the richest and poorest members of society. A score of zero represents perfect equality (everyone has equal wealth) and 100 represents perfect inequality (one person has all the wealth, and everyone else has none).

The index is calculated by comparing the current cumulative income distribution to a scenario of perfect equality, with the difference between these two distributions representing the extent of inequality.

Key Takeaways

• Emerging markets, such as South Africa, Brazil, India, Mexico, and Indonesia, are well-represented in the top 10 list. These countries often face challenges like uneven economic development, limited access to education and healthcare, and significant income disparities between urban and rural areas.
• While oil-rich Middle Eastern countries like United Arab Emirates and Saudi Arabia generate substantial wealth, the distribution of that wealth can be highly unequal, often concentrated among a small elite.