No, the world isn't universally getting poorer; long-term trends show increasing wealth and declining extreme poverty, but recent years have seen a slowdown in progress due to crises like COVID-19, conflict, and climate change, pushing millions back into poverty, especially in Sub-Saharan Africa and fragile regions, meaning progress is uneven and challenged. While overall wealth grows, extreme poverty remains a major issue, with setbacks reversing years of gains, making the 2030 goal unlikely.
Inequality has been on the rise across the globe for several decades. Some countries have reduced the numbers of people living in extreme poverty. But economic gaps have continued to grow as the very richest amass unprecedented levels of wealth.
The pandemic and other shocks have severely impacted poverty reduction efforts, with the global poverty rate increasing for the first time in decades in 2020, to 11.4 per cent. This implied that an additional 35.1 million people lived in extreme poverty in 2020 compared to two years before.
South Sudan is widely considered the poorest country in the world in 2025-2026, consistently ranking first due to extremely low GDP per capita and a high percentage (over 80%) of its population living in extreme poverty, driven by prolonged civil conflict, displacement, and disruption of its agricultural economy. Other nations frequently cited as among the poorest include Burundi, the Central African Republic, and Yemen, also suffering from conflict and instability.
In the last decades, the world has made fantastic progress against extreme poverty. In 1990, 2.3 billion people lived in extreme poverty. Since then, the number of extremely poor people has declined by 1.5 billion people .
According to the forecast, extreme poverty – living on less than $2.15 a day – would fall below 2% globally by 2050 from about 8% in 2022. In Africa, where it is highest, it would fall from 29% to 7%. More than two-thirds of the world could be living on more than $10 a day by 2050, up from about 42% today.
South Sudan has the highest poverty rate, with approximately 82.3% of its population living in extreme poverty, largely due to ongoing civil conflict and economic collapse.
Afghanistan remains the poorest country in Asia, with decades of war, political upheaval, and humanitarian crises leaving deep scars on its economy. With weak infrastructure, heavy reliance on aid, and limited industrial output, the average Afghan citizen faces severe income constraints.
The richest country by GDP (PPP) per capita is often cited as Singapore, followed closely by Luxembourg, depending on the specific report and year, with Singapore leading in 2025 estimates with around $156,000-$157,000 per person, while Luxembourg is a strong contender just below that, highlighting small, finance-heavy economies as wealthiest per person.
As of 2020, China has succeeded in eradicating absolute poverty, but not the poverty defined for upper middle-income countries which China belongs to. China still has around 13% of its population falling below this poverty line of $5.50 per day in 2020.
Around 3.5 billion people (44 percent of the global population) remain poor by a standard that is more relevant for upper middle-income countries ($6.85 per day), and the number of people living on less than this standard has barely changed since the 1990s due to population growth.
In July 2018, World Poverty Clock, a Vienna-based think tank, reported that a minimal 5.3% or 70.6 million Indians lived in extreme poverty compared to 44% or 87 million Nigerians. In 2019, Nigeria and Congo surpassed India in terms of total population earning below $1.9 a day.
The pyramid shows that: half of the world's net wealth belongs to the top 1%, top 10% of adults hold 85%, while the bottom 90% hold the remaining 15% of the world's total wealth, top 30% of adults hold 97% of the total wealth.
1. Switzerland. Switzerland takes the top spot for expats looking to grow their wealth. There's good pay and the opportunity for career progression and an improved quality of life.
Hiring could improve in 2026 as economic growth accelerates and the effects of tariffs fade, according to Goldman Sachs. Average payroll gains could rise to an average of 70,000 per month next year, more than double the 32,000 per month average in 2025, economists with the investment bank forecast in a report.
The United States is richer than China when comparing total economic output (nominal GDP) and individual wealth (GDP per capita), but China leads in Purchasing Power Parity (PPP) GDP, reflecting its massive domestic market's buying power, and has a larger overall economy by some measures, though the US remains ahead. The US has significantly more millionaires and billionaires, showing greater wealth concentration.
By 2050, China is projected to be the world's richest country by total GDP, leading a significant shift where emerging economies like India, Indonesia, Brazil, and Russia rise to challenge traditional giants, with the U.S. potentially falling to third, while Singapore might become the richest per capita (PPP), though these predictions depend heavily on technological progress, political stability, and growth rates.
South Sudan ranks as the poorest country globally, grappling with prolonged civil war, oil dependency, and severe food insecurity. The ongoing conflict disrupts agricultural production, leaving over 60% of its population in need of humanitarian assistance.
Asia is the fastest growing economic region, as well as the largest continental economy by both nominal GDP and PPP-adjusted GDP. Moreover, Asia is the site of some of the world's largest modern economic booms. 4.1% (2026 est.)
Bhutan. Bhutan ranks 145th globally, making it the weakest military in Asia. The country maintains a small volunteer army with limited equipment and a modest defense budget. Bhutan's military focus is primarily on internal security and disaster response, with no significant offensive capabilities.
The economy of India is a developing mixed economy with a notable public sector in strategic sectors. It is the world's fourth-largest economy by nominal GDP and the third-largest by purchasing power parity (PPP); on a per capita income basis, India ranked 136th by nominal GDP and 119th by PPP-adjusted GDP.
Which are the Poorest Countries in the World?
Poverty in the Philippines has been linked to bad governance, corruption, and a political system dominated by political dynasties. The country's poorest provinces are ruled by political dynasties. Additionally, there are the problem of extractive institutions that hinder the country's economic growth.