Goal 10: Reduced inequalities
Income inequality is on the rise—the richest 10 percent have up to 40 percent of global income whereas the poorest 10 percent earn only between 2 to 7 percent. If we take into account population growth inequality in developing countries, inequality has increased by 11 percent.
Income inequality has increased in nearly everywhere in recent decades, but at different speeds. It’s lowest in Europe and highest in the Middle East.
These widening disparities require sound policies to empower lower income earners, and promote economic inclusion of all regardless of sex, race or ethnicity.
Income inequality requires global solutions. This involves improving the regulation and monitoring of financial markets and institutions, encouraging development assistance and foreign direct investment to regions where the need is greatest. Facilitating the safe migration and mobility of people is also key to bridging the widening divide.
In 2016, 22 percent of global income was received by the top 1 percent compared with 10 percent of income for the bottom 50 percent.
In 1980, the top one percent had 16 percent of global income. The bottom 50 percent had 8 percent of income.
Economic inequality is largely driven by the unequal ownership of capital. Since 1980, very large transfers of public to private wealth occurred in nearly all countries.
The global wealth share of the top 1 percent was 33 percent in 2016.
Under "business as usual", the top 1 percent global wealth will reach 39 percent by 2050.
Women spend, on average, twice as much time on unpaid housework as men.
Women have as much access to financial services as men in just 60 percent of the countries assessed and to land ownership in just 42 percent of the countries assessed.