In Turkey, the top 1 percent owns 40 percent of the wealth

According to data from Swiss banks Credit Suisse and UBS, the richest 1% in Turkey owns 40% of the country’s wealth. Meanwhile, 71% of the population owns less than $10,000 (approximately 332,000 TL).

Turkey ranks among the countries with the highest inequality in wealth distribution in Europe. The richest 1% in Turkey owns 40% of the country’s wealth, placing Turkey at the top of wealth distribution inequality in Europe according to this criterion. When looking at the share of wealth taken by the top 5% and top 10%, Turkey ranks second.

Inequality also exists in the Scandinavian countries

Wealth distribution inequality in the Nordic countries, which are among the best countries in the world and Europe in terms of income distribution, democratic values, and happiness, is also noteworthy.

In addition to Sweden, which ranks first, other Scandinavian countries also rank above the average. Among the “Big Four” of the EU, Germany is the country with the highest wealth inequality.

The top 1% owns 40% of the wealth

According to the report, the greatest imbalance in the share of wealth taken by the richest is in Turkey. In Turkey, the top 1% owns 39.5% of the wealth. This puts Turkey in the first place among 21 European countries in this regard. The country where the share of wealth owned by the top 1% is the lowest is Belgium, with 13.5%.

In some other countries, this share is as follows: Germany (30.4%), Greece (25%), France (21.1%), and the UK (20.6%).

When looking at the share of wealth taken by the top 5% and top 10%, Turkey ranks second after Sweden. Belgium remains the country with the lowest inequality in these areas.