Bilingual in Both Chinese and Western Spain 10% of the rich account for 60% of the country's wealth! The gap between rich and poor is a common problem in the world

People who are part of the richest 10% of the population in Spain earn on average eight times more than those who are part of the poorest 50%, a gap that despite everything is one of the least pronounced in the world and at a similar level to that of other countries in the European environment.

The average income of the richest 10% in Spain is 8 times the income of the bottom 50% of the population, and this income gap is not prominent worldwide compared to other countries, and is about the same level as the rest of Europe.

In the second edition of its comparative study published on Tuesday, the Laboratory of Global Inequalities coordinated by economists such as Thomas Piketty and Gabriel Zucman, explains that the average income of an adult in 2021 in Spain is 30,600 euros, almost double the 16,700 worldwide.

In the second edition of the comparative study, released this Tuesday (December 7), the Laboratorio de las Desigualdades Mundiales, founded by economists such as Thomas Piketty and Gabriel Zucman, explains that the average annual income of Spaniards in 2021 is 30,600 euros, almost double the world average income level of 16,700 euros.

The incomes of the most favoured 10% represent 34.5% of the country's total, a higher percentage than other European neighbours such as France (32.2%) and Italy (32.2%), and above all higher than that of Nordic states such as Sweden (30.8%) and Norway (29.6%).

The 10 percent of the richest earn 34.5 percent of the country's income, higher than other European neighbours such as France (32.2 percent) and Italy (32.2 percent), especially in the Nordic countries of Sweden (30.8 percent) and Norway (29.8 percent).

But that 10% takes a share of the biggest pie in the UK (35.7%) and Germany (37.1%), not to mention what happens outside Europe. In the United States they account for 45.5% and in Brazil 58.6%.

But this 10% of income accounts for a larger share in the UK (35.7%) and In Germany (37.1%), not to mention some countries outside Europe. In the United States, the share was 45.5%, and in Brazil it was 58.6%.

As is the case around the world, wealth differences in Spain are even more pronounced than those in income. The top 10% concentrates in 2021 57.6% of all assets and assets (for an average value of 1,014,100 euros) while the lower half is content with 6.7% (23,500 euros).

The gap between rich and poor spreads around the world, but the gap between rich and poor in Spain is even more pronounced than the income gap. In 2021, the top 10% of the population at the top of the wealth list will own 57.6% of the country's property and resources (worth about 1,014,100 euros), while the lower middle class will only own 6.7% (23,500 euros).

Globally, inequality is growing. The wealth accumulated by billionaires in the world has skyrocketed this year due to the financial effects of the covid crisis, which has led to an increase in inequalities, particularly with the poorest half of the population, which only owns 2% of assets.

Income inequality is growing globally. This inequality has been exacerbated this year by the surge in wealth accumulated by the world's billionaires as a result of the COVID-19 crisis, especially since the 50% of the poorest people own only 2% of their assets.

The wealth of the 520,000 people who make up the select group of 0.01% of the wealthiest has grown in relative terms this year – marked by the effervescence of the financial markets – to represent 11% of the world total, highlights the Laboratory of Global Inequalities in the second edition of its report published on Tuesday.

In its second edition of the report released on Tuesday, the Laboratorio de las Desigualdades Mundiales highlighted that the world's 0.01 percent of the richest people have about 520,000 people, whose wealth has grown in response to the boom in financial markets, and their wealth even accounts for 11% of the world's total wealth.

That 0.01% accumulated 7% of wealth in 1995, a percentage that rose slightly above the 10% threshold on the eve of the global financial crisis, which reduced it to 8% in 2010 before starting a recovery trend that has accelerated this year, the authors of the study highlight.

The authors note that this 0.01 percent of the population amassed 7 percent of the world's wealth in 1995, a proportion that slightly exceeded 10 percent on the eve of the global financial crisis, fell to 8 percent in 2010, and then began an accelerated recovery this year.

If the sample is expanded a little more, the most advantaged 1% has remained with 38% of the increase in wealth generated in the world between 1995 and 2021, while 50% of the poorest have only achieved 2.3%.

If the sample is expanded slightly, the world's richest 1 percent account for 38 percent of the world's wealth growth between 1995 and 2021, while the poorest of the world,000 percent gained only 2.3 percent.