Unequal Distribution of Wealth in Austria

Published: October 30, 2011; 00:10 · (Vindobona)

The richest 10% of Austria´s population possess 54% of the monetary wealth. Regarding real estate, inequality is observed too.

Unequal Distribution of Wealth in Austria / Picture: © Vindobona.org

Wealth remains very unequally distributed in Austria. Ten percent of the population own 54% of the monetary funds. The richest percent possesses 27% of the monetary wealth and the richest 0.1% still disposes of 8% of the Austrian monetary wealth. On average, every Austrian possesses 50.000 of monetary wealth.

In the real estate sector, the imbalance is even larger. About 40% of the Austrians do not own any real estate. But the richest 10% possess 61% of the domestic real estate wealth, which is € 530bn of the aggregate real estate of € 880bn.

Regarding company shares, the inequality is the largest one: only 3% of the households dispose of shares in limited companies. Within this group, ten percent own about 92% of all shares.

Concerning the income distribution, the Gini coefficient is the half of the monetary distribution (0.66). The Gini coefficient scales the degree of inequality between zero and one. Zero means a perfect equality in income distribution, one means a total concentration of wealth.