Poverty in the world

Have you wondered what life is like to live on less than 1 dollar a day, yes less than one dollar a day? Welcome to the world of poverty, statistics show that about 9.2% of the world, or 689 million people, live in extreme poverty on less than $1.90 a day. The global poverty rate in 2018 is 8.6 percent, down from 9.1 in 2017, equivalent to a decline of 28 million poor people between the two years; this is according to World Bank.

What does it mean to be poor?

To be poor is to live on less than a dollar a day. And nearly 2 billion people, or 26.2% of the world’s population, live on less than $3.20 a day. Although the World Bank established the most widely held and understood definition of poverty, they have also described poverty as Hunger. Lack of shelter, Being sick and not being able to see a doctor, Not having access to school and not knowing how to read, Not having a job, Fear for the future, Living one day at a time, Losing a child to illness brought about by unclean water, Powerlessness and Lack of representation and freedom.

Essentially the extremely poor live without support, on the sidelines, watching economic growth and prosperity pass them by. They are shunned by the world economy. They live lives abundant in scarcity. Without enough food, access to clean water, or proper sanitation. Without access to safe shelter, health care, or education, according to Compassion.

Is Poverty Increasing or Decreasing Around the World?

Even before the COVID-19 pandemic and the current cost-of-living crisis are accounted for, the data shows that 1.2 billion people in 111 developing countries live in acute multidimensional poverty. This is nearly double the number who are seen as poor when poverty is defined as living on less than $1.90 per day, according to multidimensional poverty. Report.

The good news is 1.1 billion people have moved out of extreme poverty since 1990, and 15 countries have made rapid progress in extreme poverty. Several countries in Asia, including China, Moldova, and Vietnam, effectively ended extreme poverty in 2015. Tanzania, one of seven sub-Saharan countries on the list, almost halved its extreme poverty in just over a decade! Although the world has made huge progress on extreme poverty reduction, progress hasn’t been even.

The majority of the 689 million people still living on less than $1.90 a day are in sub-Saharan Africa. Even among sub-Saharan high-performers such as Tanzania, rates of extreme poverty remain above 40%. In addition, the pace of decline in the overall extreme poverty rate has slowed since 2013, and the world isn’t on track to hit the target of ending poverty by 2030. The pandemic has also dramatically slowed the reduction of poverty across the globe, according to the report.

Developing countries need to move out of poverty to avoid the problem associated with poverty. Because poverty can trigger migration.

It is important to empower the poor to take control of their future. hence racing to mainstream poverty and powering the world.