No country currently has zero poverty. While some countries have extremely low poverty rates, poverty, in its various forms (extreme, relative, multidimensional), exists to some degree globally. The concept of "no poverty" is a target, not a current reality. Even countries with exceptionally low official poverty rates still experience various forms of economic and social hardship.
Understanding Poverty Rates
The available data on poverty rates often vary based on the methodology used and the definition of "poverty" employed. For instance, the World Bank and other organizations use different poverty lines, leading to differing estimations for the same country. Furthermore, reported statistics may not fully capture the complexities of poverty, including those who live in extreme poverty but are not officially counted.
Several countries consistently report very low poverty rates, including:
- Iceland: Frequently cited as having a very low poverty rate. However, even in Iceland, social disparities and economic challenges exist, and poverty, though low, is still present.
- Czech Republic: Another country with consistently low reported poverty rates.
- Other low-poverty nations: The Yahoo Finance article (https://finance.yahoo.com/news/35-countries-lowest-poverty-rate-234924585.html) lists several others with low rates, including countries like Japan, Sweden, Spain, Australia, and Austria. These low rates, however, do not signify a complete absence of poverty.
The UN's Sustainable Development Goal 1 (https://www.un.org/sustainabledevelopment/poverty/) aims to "End poverty in all its forms everywhere". This demonstrates the global acknowledgment that eradicating poverty completely is a long-term goal requiring continuous efforts and comprehensive strategies. The World Bank’s work on poverty measurement highlights the challenges in accurately capturing poverty data, particularly in the poorest nations (https://www.worldbank.org/en/news/press-release/2015/10/15/world-bank-new-end-poverty-tool-surveys-in-poorest-countries).
