A Regional Human Development report by the United Nations Development Programme (UNDP) has underscored that Sri Lanka is among the South Asian countries exhibiting the highest wealth inequality, as indicated by the wealth share of the top 10 percent.
Utilizing data from the World Inequality Database, the UNDP report revealed that Asia and the Pacific region experience some of the most significant wealth gaps globally, with the richest and the poorest facing substantial disparities.
The report emphasized that inequality remains deeply rooted, with the wealthiest 10 percent consistently controlling over half of the total income. Particularly in South Asia, income inequality has shown a worsening trend over time.
Persistent wealth disparities are noted, especially in South-East Asia and South Asia, with China, India, Myanmar, Sri Lanka, and Thailand identified as having the highest wealth inequality.
The report added, “human development progress overall has been very uneven.”
Furthermore, the report highlighted that “inequality is further exacerbated by corruption, weak tax policy and administration, as well as by the lack of effective social safety nets.”
