The maps below show a comparison between the GDP (PPP) of the USA & Europe including and excluding the top 1% income earners (in 2016). Enlarge map.
In order to make the maps, data is used from WID and World Bank. In the article below a reference will be made to GDP and GDP PPP. The GDP represents the total size of an economy, whereas the GDP PPP can be used to compare the purchasing power between nations. Briefly summarized, the GDP PPP take the cost of living into account.
The list below shows how much the top 1% income earners earn of the total GDP according to WID. The data is not available for all countries in the same year so you have to take the percentages with a grain of salt. Not all countries are included in the WID database. Therefore not all countries are included in the map.
Top 1% share of total GDP
- Turkey (23,4%)
- United States (20,0%)
- United Kingdom (13,3%)
- Germany (13,1%)
- Poland (12,4%)
- Switzerland (11,0%)
- France (10,9%)
- Sweden (8,8%)
- Spain (8,8%)
- Norway (7,8%)
- Denmark (6,4%)
- Netherlands (6,4%)
To make this more tangible, 3.23 million Americans earn on average $1.148.090 per year (in 2016). Together they earn 20% of the 18.57 trillion dollar (GDP). In Turkey the income inequality is even worse but less impressive due to its lower GDP. Turkey’s top 1% income earners, 718.500 Turks, earn on average $279.000 per year (in 2016).
This Map Shows The GDP (PPP) Including The Top 1% Income Earners of The USA & Europe
The GDP PPP of the USA is 23,7% higher when the top 1% income earners are included in the GDP PPP calculation. The income inequality is the lowest on this map in the Netherlands (Holland). The difference between the GDP PPP including and excluding the top 1% income earners is only 5,7%.
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