COVID-19: effect on income groups globally 2020

Published by
Einar H. Dyvik,
Aug 6, 2024
The COVID-19 pandemic hit many industries hard. Lots of people lost their jobs or were forced to reduce their employment radically throughout 2020. As a result, 131 million more people globally were classified as poor, meaning that they lived on two U.S. dollars or less daily.

Change in number of people in selected income tiers due to the coronavirus (COVID-19) pandemic worldwide in 2020 (in millions)

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Sources

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Release date

March 2021

Region

Worldwide

Survey time period

2020

Special properties

estimated figures

Supplementary notes

The source adds the following information: "The poor live on $2 or less daily, low income on $2.01-$10, middle income on $10.01-$20, upper-middle income on $20.01-$50, and high income on more than $50; figures expressed in 2011 purchasing power parities in 2011 prices. The estimates show the difference in the number of people in an income tier based on pre-pandemic projections and post-pandemic estimates. The term "post-pandemic" refers to the period since the onset of the pandemic in January 2020. It is assumed, that there is no change in the income distribution in a region from the benchmark year for the projection to 2020."

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