Goal 10: Reduced inequalities
Ongoing conflict in Yemen has reversed progress and magnified existing equality gaps. The economic gains of war benefit an elite few, while increasing the strain on the vast majority, whose incomes and share of gross domestic product have decreased by almost 60 per cent.
Income inequality is a global challenge that demands global solutions. It 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, while facilitating the safe migration and mobility of people. Reducing this widening disparity will require policies that empower the bottom percentile of income earners, and promote economic inclusion of all – regardless of their gender, race or ethnicity.
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.