Poverty is a challenge that affects millions of people worldwide. While some countries have made progress in reducing poverty, others still struggle. In this blog, we’ll explore the global poverty scenario and help you describe global poverty trends in an easy-to-understand way. This guide will give you a clear picture of how poverty has changed over time and what the future looks like. Let’s get started!
What is the Global Poverty Scenario?
The global poverty scenario refers to the situation of poverty around the world. It looks at how many people live in extreme poverty, where they live, and how poverty levels have changed over time. According to the World Bank, extreme poverty is defined as living on less than $2.15 per day (2011 PPP).
Key Global Poverty Trends
Here are the major trends that help us understand global poverty trends:
1. Decline in Global Poverty
Over the past few decades, the percentage of people living in extreme poverty has decreased significantly. For example:
- In 2010, 16.27% of the global population lived in extreme poverty.
- By 2019, this number dropped to 9.05%.
This decline is mainly due to rapid economic growth in countries like China and Southeast Asia.
2. Regional Differences in Poverty
While poverty has declined globally, there are big differences between regions:
- China and Southeast Asia: Poverty has reduced dramatically. For example, in China, the poverty rate fell from 2.1% in 2014 to just 0.1% in 2020.
- South Asia: Countries like India, Pakistan, and Bangladesh have also seen a decline in poverty. In 2021, the poverty rate in South Asia was 10.9%, down from 12.8% in 2017.
- Sub-Saharan Africa: This region still has the highest poverty rates. In 2019, 35.4% of people lived in extreme poverty.
3. Resurgence of Poverty in Some Regions
In some parts of the world, poverty has resurfaced. For example:
- In Latin America and the Caribbean, poverty increased from 4.4% in 2017 to 4.6% in 2021.
- In former socialist countries like Russia, poverty reappeared after being officially non-existent earlier.
4. Future Predictions
By 2030, it is predicted that nearly 9 out of 10 people living in extreme poverty will be in Sub-Saharan Africa. This shows that while global poverty is declining, some regions still face huge challenges.
Why is it Important to Study Global Poverty Trends?
Understanding the global poverty scenario helps us see how poverty affects different parts of the world. It also shows us which regions need more help and how countries can work together to reduce poverty.
Point to Remember
To describe global poverty trends, we look at how poverty has declined globally, but with significant regional differences. While countries like China have made huge progress, regions like Sub-Saharan Africa still struggle. By studying these trends, we can better understand the challenges and work towards solutions.
Want to learn more about poverty in India? Click here to explore Poverty as a Challenge Class 9 Economics!
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