Over half the world’s population lives on less than $2.50 a day, while the world’s billionaires account for 7% of global GDP. The income gap is growing, with the richest 20% accounting for 75% of global private consumption.
Over three billion people – more than half of the world’s population in 2010 – live on less than US$2.50 (USD) a day. More than 80% of the population lives on less than $10 a day. To put that into perspective, the average American spends about $7 USD a day on entertainment alone and more than double that on transportation.
More money facts:
The world’s billionaires (fewer than 500 people) account for about 7% of global GDP. Low-income countries (about 2.5 billion people) account for only 3.3% of world GDP.
According to the World Bank, the poorest 20% of the world’s population account for 1.5% of total global private consumption, while the richest 20% account for about 75% of global private consumption.
The world income gap is growing: In the 1960s, 20% of the world’s population in the richest countries had 30 times the income of the bottom 20%. By 1997 that figure had risen to 74 times more and continues to rise.
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