WASHINGTON (Enmaeya News) — In October 2024, the World Bank released its report The Changing Wealth of Nations 2024, marking a shift in how we think about national prosperity. The central message is clear: a country’s true wealth goes far beyond the goods and services it produces annually. Economic progress, the report argues, must also consider the value of natural resources, human potential, and institutional strength—factors essential for long-term sustainability.
Drawing on new global data, the report finds that while global wealth per capita rose by 21% between 1995 and 2020, that growth was far from evenly distributed. High-income countries continued to dominate, holding over two-thirds of total global wealth, while low-income nations—home to half the world's population—accounted for just 7%.
The report also reveals a concerning decline in renewable natural resources, raising red flags about the environmental sustainability of current growth models.
Perhaps most importantly, the study introduces a broader, more inclusive measure of wealth—one that adds up not just roads and factories, but also education, clean air, institutional trust, and community wellbeing. It calls for a shift away from short-term economic fixes toward strategies that invest in people, preserve nature, and strengthen social systems.