For hundreds of years, economists and social scientists have been interested in the question of global wealth. Over the last few decades, humanity has made great strides and traveled a long distance. Millions have been lifted out of terrible poverty while the world’s wealth has grown enormously. The World Bank estimates that from 37.8 percent in 1990 to 11.2 percent in 2014, the global poverty rate has decreased. The industrial revolution, which drastically altered human civilizations’ economies and social structures, was important in enabling men to take full advantage of global economic opportunities. Millions of individuals may now take advantage of economic possibilities that are hundreds of kilometres distant because to the technology revolution.
But every few years, the world is made aware of the flaws in its economic system. Due to the 2022 stock market crisis, economic unpredictability, growing inflation, and central banks’ reaction to it, billions of dollars were lost on the stock market, which led to a decline in worldwide wealth. Global family wealth was expected to experience its first “substantial reduction” since the 2008 financial crisis, according to a survey released earlier this year by Allianz.
Economic disparity has always been a concern for human communities, and it still is. As the 80-20, winner-take-it-all (or Pareto principle) seems to be nearly constantly at work when it comes to human wealth, it appears that pandemics, recessions, sickness, stock market collapses, and wars tend to make this situation worse.
On the one hand, there is a doomsday scenario that is prophesied by a number of market analysts nearly daily, who anticipate a severe recession to begin in 2023. On the other side, a recent analysis from Credit Suisse predicted that by 2026, there would be a stunning 40% increase in the number of millionaires in the globe.
Approximately 87.5 million people will have at least $1 million in wealth by 2026, up from 62.5 million in 2021, according to the survey.
GNI Per Capita (PPP): $70,480
The Asian economic miracle has reached its zenith in Singapore. It is a center for important financial institutions, IT firms, travel, retail, real estate, and many other booming economic sectors.
- 09 Hong Kong
GNI Per Capita (PPP): $70,700
Due to its supportive startup scene, robust financial infrastructure, and consumer-friendly laws, Hong Kong is a favorite among international business people.
- 08 China
GNI Per Capita (PPP): $72,260
China has the second-largest economy in the world. Between 1989 and 2019, China’s average yearly growth rate was 9.52%.
- 07 Switzerland
GNI Per Capita (PPP): $75,860
One of the world’s most sophisticated free market economies is that of Switzerland. The service sector has expanded to play a significant economic role, particularly in the banking and tourist sectors in Switzerland.
- 06 Ireland
GNI Per Capita (PPP): $79,450
Ireland has a very advanced economy that is centered on high-tech, life sciences, finance, and agricultural services, including agrifood.
- 05 Norway
GNI Per Capita (PPP): $82,840
Norway is blessed with abundant natural resources and frequently cited as a model for a welfare state with a controlled-capitalist economy since the state is so important to the nation’s economic system.
- 04 Luxembourg
GNI Per Capita (PPP): $83,230
A significant portion of the nation’s economy is composed of the steel, banking, and industrial sectors.
- 03 Bermuda
GNI Per Capita (PPP): $87,340
The electronics industry is a major part of the Japanese economy. The nation also exports top-notch automobiles.
- 02 Qatar
GNI Per Capita (PPP): $92,080
Qatar occupies an unusual position in the globe as a result of its abundant natural gas resources. Due to the recent energy crisis brought on by Russia’s invasion of Ukraine, prominent European nations are standing up to request gas deals from Qatar, underscoring the nation’s significance.
- 01 Singapore
GNI Per Capita (PPP): $102,450
The Asian economic miracle has reached its zenith in Singapore. It is a center for important financial institutions, IT firms, travel, retail, real estate, and many other booming economic sectors.
ku bilaaw maalintaada habraaca wararka kusalaysan dhaqaalaha, ganacisiga, caafimaadka iyo Teknoolajiya—- si ayasan kuu dhaafin E-mali kaaga halkaan hoose noogu reeb — Mahadsanid 🖤
