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Wealth disparity widens in Denmark: report

Xinhua, March 12, 2016 Adjust font size:

Wealth disparity in Denmark has been growing, local media reported Friday, citing a report by think-tank Labor Movement, or AE.

According to the report, the wealthiest 1 percent of the Danish population has an average net worth of 14.6 million Danish kroner (2.18 million U.S. dollars) per person, while the average for the rest of society has 631,000 kroner.

"Just as inequality in income has risen, so too has inequality in wealth. The richest get an ever bigger slice of the pie," Jonas Juul, the chief analyst at AE, was quoted by The Copenhagen Post as saying, adding that wealth disparity has increased significantly since 2006.

The analysis was made with new methods that also include pension savings and the market value of property. In the past, comparisons of economic inequality have been based on income statistics.

Juul said the richest 10 percent of the population possesses an ever greater proportion of the combined net wealth in Denmark.

"Excluding pension savings, they control more than two-thirds of the combined wealth. Just ten years ago they only owned half," he was quoted as saying.

The report also indicated that the wealth disparity between the countryside and city was getting bigger in Denmark during these years, as property prices in cities like Copenhagen have been rising while in countryside the prices were going down. Endit