World Bank says nearly 700 million people live in extreme poverty worldwide
Nearly 700 million people around the world live in extreme poverty, surviving on less than $2.15 a day, report says
WASHINGTON, United States (MNTV) — Nearly 700 million people around the world live in extreme poverty, surviving on less than $2.15 a day, according to the World Bank’s 2024 Global Poverty Report.
The figure underscores the urgency of this year’s International Day for the Eradication of Poverty, observed annually on October 17, which focuses on ending social and institutional mistreatment by ensuring respect and effective support for families.
The UN established the day in 1992 to raise awareness about poverty and mobilize efforts toward its eradication.
While global poverty rates declined significantly between 1990 and 2019, the COVID-19 pandemic and subsequent crises reversed decades of progress, leading to the sharpest surge in poverty in recent memory.
Since 2019, little progress has been made.
Today, nearly half of the world’s population lives below levels considered poverty in upper-middle-income countries, with about one billion people surviving on between $2.15 and $3.65 per day, and roughly 3.5 billion living on less than $6.85 daily.
Despite global setbacks, East Asia, the Pacific, and South Asia have seen the greatest long-term gains in poverty reduction. However, projections show that by 2030, around 7.3% of the world’s population will still live in extreme poverty.
According to Visual Capitalist, citing the IMF’s 2025 World Economic Outlook, South Sudan remains the poorest country globally, with a per capita GDP of $251, followed by Yemen ($417) and Burundi ($490). Most of the world’s poorest nations are in Sub-Saharan Africa.
The UN says eliminating poverty in all its forms is central to achieving the 2030 Sustainable Development Goals, urging developing countries to adopt inclusive policies and expand access to resources, services, and economic opportunities.
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