World Bank Reveals How Many People Live in Poverty Worldwide

The World Bank's latest report on global poverty is a sobering reminder of the challenges we face worldwide. According to the report, over 736 million people live in extreme poverty, which is defined as living on less than $1.90 a day.

This staggering number highlights the scale of the issue, and it's essential to understand the scope of poverty globally. The World Bank's report reveals that poverty rates have declined significantly over the past few decades, but there is still much work to be done.

In 1990, the number of people living in extreme poverty was over 1.9 billion, so we've made significant progress in reducing poverty. However, the pace of progress has slowed down in recent years, and it's clear that we need to intensify our efforts to eradicate poverty.

The World Bank's report also highlights the importance of addressing poverty in specific regions, such as sub-Saharan Africa, where poverty rates remain alarmingly high.

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Poverty is a complex issue, and there's no single definition that fits all.

There is no single definition of poverty, as our understanding of it depends on the definition we have in mind.

Our understanding of poverty varies depending on the context and the criteria used to measure it.

The Multidimensional Poverty Index is a useful tool for understanding poverty beyond income levels.

It takes into account multiple factors such as education, health, and living standards to provide a more comprehensive picture of poverty.

According to the World Bank data, almost 700 million people – that's 8.5 percent of the global population – live today on less than $2.15 per day, the extreme poverty line for low-income countries.

The majority of these people, three-quarters to be exact, reside in Sub-Saharan Africa or in fragile and conflict-affected countries. This stark reality highlights the need for targeted support and sustainable development initiatives in these regions.

Here are some key statistics illustrating the scope of poverty worldwide:

At-a-glance, here are some key facts about extreme poverty:

Almost 700 million people, or 8.5% of the global population, live on less than $2.15 per day, the extreme poverty line for low-income countries.

This number is a staggering 3.5 billion people, or 44% of the global population, who live on less than $6.85 per day, the poverty line relevant for upper-middle-income countries.

Most people living in extreme poverty, around 75%, live in Sub-Saharan Africa or in fragile and conflict-affected countries.

To put this in perspective, a person in the United States is considered in poverty if they live on less than $24.55 per day, while in Ethiopia the poverty line is set at $2.04 per day.

Here's a breakdown of the numbers:

The International Poverty Line of $2.15 per day is set by the World Bank and used by the UN to monitor extreme poverty around the world.

The World Bank uses a specific method to set the International Poverty Line, which is the median national poverty line adopted among low-income countries. This method involves looking at the harmonized national poverty lines produced by Dean Joliffe and others.

The International Poverty Line is calculated at $2.15, measured in 2017 international-$, and is based on a set of harmonized national poverty lines. This figure is a result of finding a "typical standard by which the poorest countries of the world judge their citizens to be impoverished."

The World Bank uses a similar method to set two higher poverty lines that reflect national definitions adopted in lower-middle and upper-middle income groups. These lines are $3.65 and $6.85, respectively.

The World Bank's income classification system is used to determine which countries are considered low-income, lower-middle income, and upper-middle income. This system helps to identify the median national poverty line for each group of countries.

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Poverty is a complex issue that can't be defined by a single factor. There is no single definition of poverty, and our understanding of it depends on the definition we use.

Poverty is not just about income, but also about other aspects of life. The Multidimensional Poverty Index, for example, looks at multiple factors such as education, health, and living standards.

Different definitions of poverty lead to different estimates of how many people live in poverty. Our understanding of the extent of poverty and how it is changing depends on which definition we have in mind.

The Inequality Platform (IP) is an incredibly powerful tool for understanding global inequality trends. It's an interactive computational tool that offers users quick access to the World Bank's estimates of poverty, inequality, and shared prosperity.

The IP provides a comprehensive view of global, regional, and country-level trends for 170 economies around the world. This means you can get a detailed picture of inequality in almost every country on the planet.

One of the key features of the IP is that it allows users to explore data on poverty, inequality, and shared prosperity in a highly interactive way. You can zoom in on specific countries or regions to see how they're doing in comparison to others.

By using the IP, you can gain a deeper understanding of the complex issues surrounding inequality and poverty. It's a valuable resource for anyone looking to make a positive impact in the world.

The harsh reality of poverty is that half of the global population lives on less than $6.85 per person per day. This staggering figure highlights the enormous disparities in wealth and income that exist worldwide.

According to the World Bank, this amount is equivalent to the poverty line for developing countries, and it's a stark reminder of the struggles that millions of people face every day.

The World Bank also reports that in 2020, 736 million people lived in extreme poverty, defined as living on less than $1.90 per day. This is a significant reduction from 1990, but it still represents a huge challenge.

The majority of these individuals live in rural areas and rely on subsistence farming or informal work to make ends meet. Their lives are often marked by food insecurity, lack of access to healthcare, and limited opportunities for education and economic mobility.

The global poverty rate has declined significantly over the past few decades, but progress has been uneven and often slow. In some countries, poverty rates have actually increased in recent years, highlighting the need for sustained efforts to address this issue.

In many cases, poverty is a vicious cycle that is passed down from one generation to the next. Children born into poverty are more likely to experience poverty themselves, perpetuating a cycle of disadvantage that can be difficult to break.

Poverty is a complex issue with no single definition, and our understanding of it depends on the definition we use. There is no one-size-fits-all answer to measuring poverty.

The Multidimensional Poverty Index is a tool used to understand poverty beyond just income. It considers multiple aspects of life, such as education, health, and living standards.

Poverty is not just about income; it's about the quality of life. The Multidimensional Poverty Index helps to paint a more complete picture of poverty.

There is no single definition of poverty, and different definitions can lead to varying estimates of the number of people living in poverty.

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