Luxurious air-conditioned megamalls juxtaposed next to slums is a common sight in Indonesia, one of many indicators of the nation’s enormous wealth gap.
The starkness of Indonesia’s wealth inequality is quantified in the latest study by multinational financial services company Credit Suisse, titled Global Wealth Report 2016. The data in the study was then compiled and calculated by UK publication Independent and statistics firm Statista to produce statistics on how much wealth the richest citizens in any given country possess in comparison to the rest.
Indonesia fared terribly in this respect, with 49.3% of the nation’s wealth owned by the top 1% in 2016.
Indonesia came just below India and Thailand, whose top 1% account for 58.4% and 58% of their countries’ wealth respectively.
The most unequal country in the world according to the study is Russia, with 74.5% of the nation’s wealth controlled by the richest 1%.
Credit Suisse noted that wealth inequality is a major issue in almost every part of the world, as the global economy has been becoming more unequal ever since the 2008 financial crisis. The company estimate that the bottom 50% of the global population collectively owns less than 1% of global wealth, while the richest 10% of adults own 89% of all wealth, with the top 1% accounting for half of all global assets.”
Read Credit Suisse’s Global Wealth Report 2016 in full here.
Support Coconuts and rep your city
Now you can wear your love of Coconuts proudly across your chest. That’s right, we’re getting into the merch business with the launch of our official online store, The Coconuts Shop.
Our first product is that ultimate wardrobe mainstay: the white T-shirt.
If you want to rep your city, we’ve also launched Coconuts City Logo Tees for Bangkok, Manila, Singapore, Hong Kong, KL, Jakarta, Bali, and Yangon.
They’re all sold exclusively at The Coconuts Shop – at a special introductory price of S$29 until Sep. 30, 2020!