Income inequality is on the rise. Presently, the richest 10 percent receive 40 percent of all global income, while the poorest 10 percent earn between 2 to 7 percent of this figure. When taking population growth into account, inequality has increased by 11 percent in the developing world.
Such alarming figures are unevenly distributed, with global income inequality increasing disproportionately in certain regions. Indeed, the lowest income inequality increases have occurred in Europe, while the highest were in the Middle East.
These issues of income inequality require global solutions and action. Proposed solutions include improving the regulation and monitoring of financial markets and institutions, encouraging development assistance and direct foreign investment where there is the greatest need and facilitating safe migration and mobility pathways for all.
Such widening disparities require solutions that not only empower low income earners, but also promote the economic inclusion of all people regardless of sex, race or ethnicity.