Asia’s poor grew by 68 million people after pandemic, report says

The number of people living in extreme poverty in developing Asia has increased by 67.8 million due to the COVID-19 pandemic and rising living costs, with more than 155 million people living on less than $2.15 a day last year, according to the Asian Development Bank.

aljazeera.com

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9/6/2023

Hong Kong’s uber-rich population shrinks 23% as New York, Singapore close gap

Hong Kong's ultra-wealthy population decreased by 23% in 2022, while New York and Singapore saw growth, according to a report by Altrata, with China's Covid-19 restrictions, economic slowdown, geopolitical issues, and equities slump cited as reasons for the decline. However, Altrata predicts that the global super-rich population will rebound by 2027, reaching 528,100 individuals with a net worth of $60.3 trillion.

9/8/2023

Asia and Europe See Biggest Drops in Ultra-Wealthy Populations in 2022

Asia experienced the largest decline in its ultra-high-net-worth population in 2022, with a 10.9% drop attributed to factors such as China's Covid lockdown and the war in Ukraine, while India was the only country to see a rise in its ultra wealthy individuals, according to a report by data firm Altrata.

9/11/2023

Asia Overtakes Europe in Number of Ultra Wealthy, With Strong Growth Forecast Through 2027

Asia is expected to continue to have more ultra wealthy people than Europe, with analysts predicting that Asia's global share of ultra high net worth individuals could hit 29 percent by 2027.

9/12/2023

Census Data Shows Declining Incomes and Rising Poverty in 2022 as Pandemic Aid Ended

The COVID-19 pandemic and the expiration of pandemic-era programs have led to a rise in child poverty and an increase in the overall poverty rate in the US, while household income has fallen and inflation has soared, according to the US Census Bureau.

9/19/2023

Hong Kong's Wealth Gap Widens to Worst in Decade, Richest Households Earn Nearly 60 Times More Than Poorest

Hong Kong's wealth gap has widened to its worst in over a decade, with the poorest residents struggling to recover from the impact of the Covid-19 pandemic, according to a report by Oxfam. The wealthiest 10% of households earned 57.7 times more than the bottom 10%, up from 34.3 times in 2019, and 20% of the population was living below the poverty line. The report calls for an increase in the minimum wage and the creation of more flexible low-skilled jobs within public bodies to address the gap.

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Posted 8/24/2023, 6:03:42 AM