Asian Countries Where Wealth is Concentrated in the Top 1%

Despite impressive economic growth in parts of Asia, wealth inequality remains deeply entrenched, with a significant share of national wealth held by a very small elite. According to the Credit Suisse Global Wealth Report 2024, several Asian countries show extreme disparities, with the top 1% of the population controlling an outsized portion of total wealth.

These figures shine a spotlight on urgent socio-economic divides that continue to shape policy debates and public concern across the region.

India Tops the Inequality Chart

India leads the region, with 42.1% of national wealth held by its top 1%. This stark concentration reflects a growing gap between the ultra-rich and the rest of the population. While India’s tech-driven economy and startup ecosystem have created billionaires, millions still struggle with basic access to health, education, and employment.

China and the Middle East Follow

China ranks second, where 32.3% of wealth is concentrated in the hands of the richest 1%. Despite decades of poverty reduction and economic expansion, inequality remains a key concern in China’s shift toward consumption-driven growth and a more service-based economy.

In the Middle East, Qatar (29%) and Kuwait (28.1%) also exhibit high levels of concentration — outcomes often linked to oil wealth and limited diversification of economic participation. This has sparked ongoing regional conversations about inclusion, diversification, and sustainability.

Southeast Asia’s Disparity is Growing

The trend is mirrored in Southeast Asia, where countries like:

• Indonesia (22.3%)

• Philippines (21.0%)

• Thailand (20.2%)

report wealth concentration levels that mirror global inequality patterns. These nations, despite fast-paced GDP growth and middle-class expansion, continue to face challenges in income redistribution, education access, and rural-urban divides.

A Region-Wide Challenge

Other countries rounding out the list include:

• South Korea (24.0%)

• Türkiye (23.4%)

• UAE & Saudi Arabia (22.8%)

• Pakistan (22.4%)

• Bahrain (21.6%)

As Asia’s economies continue to modernize, the spotlight increasingly falls on how wealth is generated and shared. These disparities raise critical questions about economic justice, taxation policy, and the role of government in fostering inclusive growth.