Nordics: at-risk-of-poverty rate by country | Statista (2024)

FAQs

Nordics: at-risk-of-poverty rate by country | Statista? ›

In 2023, 15 percent of Sweden's population lived at risk of poverty. Since 2015, Norway, Denmark, and Finland all have similar at-risk-of-poverty rates, around 12 percent, although since 2022, Norway's rate has reached below 12 percent. Iceland had the lowest rate, below 10 percent, except for 2017.

However, extreme poverty in Norway is almost non- existent. 74% of those in Norway aged between 15-64 have a job compared to the OECD average of 67% and this contributes to the low rates of poverty.

Sweden's incorporation of equal education opportunities, beyond gender or socioeconomic status, help increase opportunities for Swedish citizens, thus limiting poverty expansion. Sweden's Education Act protects free education for all through secondary school.

Another important explanation for the success of the Danish welfare state is that Denmark has a very hom*ogeneous population. Not just socially, but also ethnically and religiously, creating and facilitating a sense of affinity and willingness to contribute to 'the common good'.

The 5 countries with the highest number of extreme poor are (in descending order): India, Nigeria, Democratic Republic of Congo, Ethiopia, and Bangladesh.

The reduction in the number of homeless people is a result of national cooperation and a long-term integrated strategy for housing and support services. 2Responsibility for the Norwegian housing policy is split between the state, municipalities, and the private sector.

First of all, we should note that Finland is only relatively “poorer” than the other Nordic countries. The difference is not a dramatic one. One important aspect of Norway's economic success is the discovery of oil in Norway in the 1960s. Finland, on the other hand, has no oil resources.

Sweden did not become wealthy through social democracy, big government and a large welfare state. It developed economically by adopting free-market policies in the late 19th century and early 20th century. It also benefited from positive cultural norms, including a strong work ethic and high levels of trust.

The overall U.S. rate using this measure stands at 17.8 percent, compared to the 25 country average of 10.7 percent. The Scandinavian and Benelux countries tend to have the lowest rates of poverty. For example, the overall rate of poverty in Denmark is only 5.5 percent.

What is the poverty rate in Switzerland? ›

In 2022 (income 2021), 8.2% of the Swiss population i.e. approx. 702'000 people were affected by income poverty.

Denmark supports a high standard of living—its per capita gross national product is among the highest in the world—with well-developed social services. The economy is based primarily on service industries, trade, and manufacturing; only a tiny percentage of the population is engaged in agriculture and fishing.

Poverty/low-income threshold

A household is poor when its net income is less than 60% of the median income level of the population. The 2019 at-risk-of-poverty threshold in Finland for a one-person house- hold was about 1,280 euros per month.

Despite having the highest GDP growth rate in Europe, Moldova is among its poorest states, and also has Europe's smallest GDP per capita.

According to the Human Development Index, Niger is the least developed country in the world with an HDI of . 354. Niger is afflicted with widespread malnutrition and 44.1% of its people live below the poverty line.

n Norway, fertility began declining in the mid-1960s, driven by the strong expansion of education, especially for women, later and fewer marriages, and the wide acceptance of new contraceptive technologies.

Main achievements: High labour market participation and policies to promote economic growth have reduced the extent and severity of poverty. Universal welfare schemes and a comprehensive welfare state have improved general living conditions, especially for low-income and vulnerable groups.

Norway was not poor prior to the 1969 discovery of oil. In relative terms, Norway has had economic success more or less since 1814.

One of the key factors contributing to Norway's high standard of living is its strong economy. The country has a very high GDP per capita, which is one of the highest in the world. This means that the average Norwegian enjoys a high level of income, which in turn allows them to enjoy a high standard of living.