Slovakia has CEE’s smallest wealth gap

Slovakia has by far the lowest wealth inequality in Central and Eastern Europe (CEE), with a Gini score of 50.3, the Global Wealth Re­port 2021 pub­lished by the Credit Suisse Re­search In­sti­tute reveals. Slovakia even ranks as having the lowest wealth inequality in Europe as a whole, and regionally is way below neighbouring Hungary, which with a score of 66.5 has the second lowest wealth disparity in CEE.

Conversely, Latvia has the highest wealth inequality in the region, registering 80.9 on the Gini grading system. Czechia is not far behind, with 77.7, followed by Estonia (73.8) and Austria (73.5), Credit Suisse found.

A middle pack then forms behind wealthy Austria, comprising Lithuania (71), Poland (70.7) Serbia (70.6) and Bulgaria (70.1). These countries are followed by a group with relatively low wealth inequality levels, comprising Croatia with 68.5, Bosnia and Herzegovina (68.6), Montenegro (68.4), Albania (68.2) and Slovenia (67.1).

Sweden has the highest wealth inequality in Europe as a whole, with 87.2, while the continent with the most disparity is Africa, with 87.1, according to the Credit Suisse report. Of the large regions surveyed, China scored lowest, with 70.4, while Europe was middling overall in terms of wealth inequality, with a Gini score of 81.4.

A Gini coefficient of zero would express perfect equality, with all frequency distribution values equal, while 100 would mean maximal inequality. Total global wealth grew by 7.4% in the 12 months up to June 2021, according the report, while wealth per adult climbed to a re­cord USD 79,952. The coun­tries most hit by COVID have not fared worse in wealth cre­ation overall, Credit Suisse notes.