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'In SA, if you’re born rich you stay rich and if you’re born poor you stay poor'

22 January 2020 11:11 AM
Tags:
World Economic Forum
Inequality
The Money Show
Davos
WEF
Bruce Whitfield
Absa
World Economic Forum 2020
WEF 2020
social mobility
Global Social Mobility Index
Where you’re born – and who your parents are – largely determines your destiny in South Africa, according to the WEF.

Absa is sponsoring Bruce Whitfield at the 2020 World Economic Forum in Davos, Switzerland.

The Money Show will bring you news and analysis all week.

Follow the coverage of WEF here.

Informal settlements in South Africa. Image: 123rf.com

The opportunities life presents to most South Africans remain firmly tied to their socio-economic status at birth, according to the World Economic Forum’s (WEF) Global Social Mobility Index 2020.

In other words, South Africa – the most unequal society in the world – has one of the lowest rates of social mobility in the world.

Social mobility refers to the movement up or down social classes.

It refers to the ability of a child to experience a better life than her parents.

South Africa ranks 77th out of 82 countries benchmarked for the Global Social Mobility Index.

Social mobility ranking of Brics countries:

  • Russia – 39th

  • China – 45th

  • Brazil – 60th

  • India – 76th

  • South Africa – 77th

Social mobility is low in most countries; only these 10 countries can be said to have the right conditions for it:

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This article first appeared on 702 : 'In SA, if you’re born rich you stay rich and if you’re born poor you stay poor'


22 January 2020 11:11 AM
Tags:
World Economic Forum
Inequality
The Money Show
Davos
WEF
Bruce Whitfield
Absa
World Economic Forum 2020
WEF 2020
social mobility
Global Social Mobility Index

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