Top 11 Countries With the Biggest Gaps Between Rich and Poor
No. 1 Hong Kong
ED Jones/AFP/Getty Images, PHILIPPE LOPEZ/AFP/Getty Images
Gini score: 43.4
GDP 2007 (US$ billions): 207.2
Share of income or expenditure (%)
Poorest 10%: 2.0
Richest 10%: 34.9
Ratio of income or expenditure, share of top 10% to lowest 10%: 17.8
Renowned for its high concentration of Rolls-Royces, expensive real estate, and posh shops, the Chinese special administrative region has plenty of rich who enjoy showing off their wealth. However, Hong Kong also has one of the largest public housing sectors in the world, with about half the population living in government-supported or -subsidized housing estates. The city has no minimum wage—except for domestic helpers from the Philippines, Indonesia, and other countries.
No. 2 Singapore
Gini score: 42.5
GDP 2007 (US$ billions): 161.3
Share of income or expenditure (%)
Poorest 10%: 1.9
Richest 10%: 32.8
Ratio of income or expenditure, share of top 10% to lowest 10%: 17.7
Singapore is one of the world's most open economies, and it suffered badly following the bankruptcy of Lehman Brothers last year. Recently, though, the city-state's economy has rebounded, with GDP growing an annualized 14.9% rate in the third quarter compared with the previous quarter.
No. 3 U.S.
Spencer Platt/Getty Images, Justin Sullivan/Getty Images
Gini score: 40.8
GDP 2007 (US$ billions): 13,751.4
Share of income or expenditure (%)
Poorest 10%: 1.9
Richest 10%: 29.9
Ratio of income or expenditure, share of top 10% to lowest 10%: 15.9
The share of income for the top percentile of Americans was 23.5% in 2007, the highest since 1928, according to Emmanuel Saez, a Berkeley economist who won the prestigious John Bates Clark Medal in April. Income for the top 0.01% hit a record-high 6.04%. And the recession may be exacerbating income inequality.
No. 4 Israel
Gini score: 39.2
GDP 2007 (US$ billions): 164.0
Share of income or expenditure (%)
Poorest 10%: 2.1
Richest 10%: 28.8
Ratio of income or expenditure, share of top 10% to lowest 10%: 13.4
Gone are the days when Israel was one of the world's most egalitarian societies. Early Labor Zionist pioneers built kibbutzim for Jewish immigrants, but those collectives have fallen on hard times. The growing number of haredim, or ultra-Orthodox Jews, with large families and men who study the Torah rather than work has worsened the inequality problem.
No. 5 Portugal
Spencer Platt/Getty Images, Justin Sullivan/Getty Images
Gini score: 38.5
GDP 2007 (US$ billions): 222.8
Share of income or expenditure (%)
Poorest 10%: 2.0
Richest 10%: 29.8
Ratio of income or expenditure, share of top 10% to lowest 10%: 15.0
While Portugal emerged from recession in the second quarter, the unemployment rate tops 9%. The ruling Socialists retained power in elections last month but lost seats to parties on the far left.
