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Countries with the widest gap between rich and poor

June 03, 2014 10:34 IST

Countries with the widest gap between rich and poor

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Some of the world’s most developed countries, such as the US and the UK, fair poorly when you look at the rich-poor divide.

To measure the income inequality, The World Bank uses an index called as Gini. Investopedia describes Gini index as ‘a measurement of the income distribution of a country's residents. This number, which ranges between 0 and 1 helps define the gap between the rich and the poor, with 0 representing perfect equality and 1 representing perfect inequality’.

Let’s take a look at the countries with the widest gap between the rich and poor.

Source: 24/7 Wall St.

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Image: A nine-year-old boy begs for money.
Photographs: Reuters

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Japan

Rank: 10

Gini index - post tax & transfer: 0.336

Social spending, percentage of GDP: NA

Job growth (2013): 0.7 per cent (16th lowest)

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Image: Japanese tourists Naomi Sato (L), Hitomi Abe (C) and Kumi Tamizane wear rented "Maiko" costumes in the ancient Japanese capital of Kyoto.
Photographs: Issei Kato/Reuters
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Countries with the widest gap between rich and poor

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Greece

Rank: 9

Gini index - post tax & transfer: 0.337

Social spending, percentage of GDP: 22.0 per cent (17th highest)

Job growth (2013): -4.0 per cent (the lowest)

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Image: A tourist takes photos of the temple of Parthenon atop the ancient Acropolis in Athens.
Photographs: Yiorgos Karahalis/Reuters
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Spain

Rank: 8

Gini index - post tax & transfer: 0.338

Social spending, percentage of GDP: 27.4 per cent (8th highest)

Job growth (2013): -3.1 per cent (2nd lowest)

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Image: People shop in Madrid's Puerta del Sol square.
Photographs: Juan Medina/Reuters
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United Kingdom

Rank: 7

Gini index - post tax & transfer: 0.341

Social spending, percentage of GDP: 23.8 per cent (13th highest)

Job growth (2013): 1.3 per cent (8th highest)

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Image: Pedestrians walk along Oxford street, London.
Photographs: Paul Hackett/Reuters
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Portugal

Rank: 6

Gini index - post tax & transfer: 0.344

Social spending, percentage of GDP: 26.4 per cent (9th highest)

Job growth (2013): -2.6 per cent (3rd lowest)

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Image: A man feeds seagulls at the 'Cais das Colunas', in front of the Tagus River in Lisbon.
Photographs: Rafael Marchante/Reuters
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Israel

Rank: 5

Gini index - post tax & transfer: 0.376

Social spending, percentage of GDP: 15.8 per cent (4th lowest)

Job growth (2013): 2.7 per cent (2nd highest)

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Image: The Baha'i shrine is seen in the northern city of Haifa.
Photographs: Baz Ratner/Reuters
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United States

Rank: 4

Gini index - post tax & transfer: 0.380

Social spending, percentage of GDP: 20.0 per cent (11th lowest)

Job growth (2013): 1.0 per cent (14th highest)

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Image: An aerial view shows the Seattle Great Wheel (top) and the Seattle Aquarium on the Elliott Bay waterfront.
Photographs: Anthony Bolante/Reuters
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Turkey

Rank: 3

Gini index - post tax & transfer: 0.411

Social spending, percentage of GDP: n/a

Job growth (2013): n/a

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Image: A fishing boat travels on the Golden Horn in Istanbul.
Photographs: Osman Orsal/Reuters
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Mexico

Rank: 2

Gini index - post tax & transfer: 0.466

Social spending, percentage of GDP: 7.4 per cent (the lowest)

Job growth (2013): 1.1 per cent (11th highest)

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Image: Mexico skyline.
Photographs: Daniel Aguilar/Reuters
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Chile

Rank: 1

Gini index - post tax & transfer: 0.501

Social spending, percentage of GDP: 10.2 per cent (3rd lowest)

Job growth (2013): n/a


Image: Algarrobo city skyline.
Photographs: Eliseo Fernandez/Reuters
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