Over three billion people — more than half the world population as of 2010 — live on less than $2.50 US Dollars (USD) a day. More than 80% of the population lives on less than $10 USD per day. To put that in perspective, the average American spends about $7 USD a day on entertainment alone, and more than twice that on transportation.
More money facts:
- The world's billionaires (less than 500 people) account for about 7% of the world's GDP. Low income countries (about 2.5 billion people) account for only 3.3% of the world's GDP.
- According to the World Bank, the poorest 20% of the world's population accounts for 1.5% of the world's total private consumption, while the richest 20% accounts for around 75% of global private consumption.
- The world income gap is growing: in the 1960s, the 20% of the world’s people in the richest countries had 30 times the income of the poorest 20%. By 1997 that figure had risen to 74 times as much, and it continues to increase.