A recent report from the World Bank highlights a pressing global issue: 8.5% of the world’s population—approximately 700 million people—live in extreme poverty, defined as surviving on less than $1.90 a day.
Despite progress in reducing the proportion of those living in poverty since the 1990s, the actual number of people facing these harsh conditions has remained stable due to population growth, particularly in high-poverty regions such as Asia.
Asia plays a significant role in the global poverty landscape, with countries like India, Bangladesh, and Indonesia housing large populations struggling to access essential services, education, and healthcare.
Statista reports that the World Bank utilizes varying poverty thresholds, with $3.65 per person per day applicable to lower-middle-income countries and $6.85 for upper-middle-income populations.
It is estimated that in 2024, approximately 1.7 billion people (21.4%) and 3.5 billion people (43.6%) will be living under these respective poverty lines.
Source: Statista
Contributing factors to global poverty
Several interrelated factors contribute to the persistence of poverty in Asia.
Rapid population growth, income inequality, insufficient job opportunities, inadequate social safety nets, and environmental degradation are critical drivers of this ongoing crisis.
Rural communities are particularly vulnerable due to limited access to essential services and economic opportunities.
The consequences of poverty are severe, particularly for children who often lack access to education, making them more susceptible to hunger and preventable diseases.
Women and girls typically face the greatest challenges, encountering significant barriers to education, healthcare, and economic advancement.
The dire living conditions in urban slums, especially in countries like India and Bangladesh, vividly illustrate the plight of those trapped in extreme poverty.
To effectively combat global poverty in Asia, targeted policies and collaborative efforts among governments, non-governmental organizations (NGOs), and the private sector are essential.
Key initiatives include investing in education and vocational training, promoting sustainable agriculture and rural development, improving healthcare systems, and fostering equitable economic growth, with a particular focus on women, children, and ethnic minorities.
Achieving the Sustainable Development Goals (SDGs) and eradicating poverty by 2030 requires nations to tackle the unique challenges faced by regions like Asia.
By implementing targeted policies and promoting inclusive growth, countries can make substantial progress in reducing global poverty and fostering a more equitable society.
Collaboration and concerted efforts are crucial for driving sustainable development and ensuring a better future for generations to come.
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