And The Mighty Keeps Falling, Nigeria The 3rd World’s Poorest Country- Swiss Bank

Advertisement

In an annual global wealth report recently published by Credit Suisse, Swiss Bank, Nigeria was rated the 3rd World’s Poorest Country.

According to the report, Nigeria ranks 3rd in the list of countries with the poorest people in the world. It says that Nigeria has about 35 million people living in abject poverty.

Taking the lead is the seriously populated Asian country, India, with a shocking 246 million poor people; followed by China with about 72 million people dwelling in penury.

See Also: See Which Countries Made It To The 2016 African Prosperity Index

credit-suisse

Having a list of world’s poorest countries does not in any way mean that there are no poor people found in every nation of the world. Even the most developed of nations still have poor people in their midst.

However the report takes into consideration the percentage of these poor persons. It showed that nearly three quarters of the world’s poorest billion live in Asian and African countries.

Asia, at the same time is home to the richest countries of the world. This according to the report points to the unequal distribution of wealth.



Other countries contributing significantly to countries with the poorest people are Russia with 28 million of the world’s poorest, Ukraine with 25 million and the United States with 21 million.

See Also: Everything You Need To Know About The Richest Countries In The World

worlds-poorest-countries2

It is evident that the rank of the world’s poorest country by the financial institution has nothing to do with the real GDP of the nations. Rather the analysis took record of the number of people who are poor in the real sense of the word in these countries.

Report shows that an estimated 33 million people in the world (known in the banking industry) own between $1 million-$50 million.

Of these millionaires, U.S takes up the largest portion with 45%; followed by 30% of Europeans; 18% from Asia-Pacific region (excluding India and China); and then 5% from China with about 1.6 million millionaires.

The country with the world’s richest people on the overall is Switzerland where we have an average net worth of $500,000 per adult. A Swiss citizen is recorded to be 11 times wealthier than the average world citizen.

hans2