What percent of the world is living in poverty? This is a question that has been haunting policymakers, economists, and social scientists for decades. The global poverty rate has seen significant fluctuations over the years, influenced by various economic, social, and political factors. Understanding the current state of global poverty is crucial for developing effective strategies to alleviate it and ensure a better quality of life for all. In this article, we will explore the current percentage of the world living in poverty and delve into the factors contributing to this issue.
The World Bank defines poverty as living on less than $1.90 per day. According to the latest data, approximately 736 million people, or 10.7% of the world’s population, were living in extreme poverty in 2020. This number represents a decrease from 1.9 billion people, or 28.2% of the global population, in 1990. While progress has been made, the pandemic has caused a setback, with an estimated 150 million more people falling into poverty due to the economic impact of COVID-19.
Several factors contribute to the high poverty rate worldwide. One of the primary factors is income inequality. In many countries, a small percentage of the population holds a significant portion of the wealth, leaving the majority struggling to make ends meet. Additionally, political instability, corruption, and lack of access to education and healthcare further exacerbate the issue.
Sub-Saharan Africa and South Asia are the regions with the highest poverty rates. In Sub-Saharan Africa, 38.1% of the population lives in poverty, while in South Asia, the figure is 22.1%. These regions face numerous challenges, including high population growth, limited access to resources, and inadequate infrastructure.
On the other hand, East Asia and the Pacific have seen remarkable progress in reducing poverty. The region’s poverty rate has decreased from 59.4% in 1990 to 7.2% in 2020. This progress can be attributed to strong economic growth, improved governance, and increased investment in education and healthcare.
Governments and international organizations have been working tirelessly to combat poverty. The United Nations Sustainable Development Goals (SDGs) aim to end poverty by 2030. Achieving this goal requires a multifaceted approach, including improving access to education, healthcare, and financial services, as well as investing in infrastructure and promoting sustainable development.
To conclude, what percent of the world is living in poverty remains a significant concern. While progress has been made, there is still much work to be done. By addressing the root causes of poverty and implementing effective policies, we can hope to reduce the percentage of the world living in poverty and create a more equitable and sustainable future for all.
