In 2022, about 40 percent of adults in Mexico held a net worth under 10,000 U.S. dollars. In contrast, merely 393,000 Mexicans (that is, 0.4 percent of the total) had a net worth of over one million U.S. dollars. Mexico is one of the most unequal countries in Latin America regarding wealth distribution, with 78.7 percent of the national wealth held by the richest ten percent of the population.
The minimum salary
The minimum wage per day guaranteed by law in Mexico was decreed to increase by 22 percent between 2021 and 2022, reaching 172.87 Mexican pesos in 2022. In the Free Zone located near the northern border the minimum daily wage was raised to 260.34 Mexican pesos.This represented the fourth consecutive incrase since 2019, but could prove to be insufficient to maintain the wellbeing of Mexican workers after the soaring inflation rate registered in 2022 and the economic impact of the COVID-19 in Mexican households. The legal minimum salary has a long history in the North American country, it was first implemented with the approval of the Political Constitution of the United Mexican States in 1917.
Income inequality in Latin America
Latin America, as other developing regions in the world, generally records high rates of inequality, with a Gini coefficient ranging between 38 and 54 among the region’s countries. Moreover, many of the countries with the biggest inequality in income distribution worldwide are found in Latin America. According to the Human Development Report 2019, wealth redistribution by means of tax transfers improves Latin America's Gini coefficient to a lesser degree than it does in advanced economies. Wider access to education and health services, on the other hand, have been proven to have a greater direct effect in improving Gini coefficient measurements in the region.
Number of adults in Mexico in 2022, by wealth range
(in 1,000s)
* Based on the estimated individual net worth, defined by the source as "the marketable value of financial assets plus non-financial assets (principally housing and land) minus debt."
Further information about the methodology of the study can be found in the first section of the report.
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Credit Suisse. (June 15, 2023). Number of adults in Mexico in 2022, by wealth range (in 1,000s) [Graph]. In Statista. Retrieved August 25, 2024, from https://www.statista.com/statistics/1234470/mexico-adults-wealth-group/
Credit Suisse. "Number of adults in Mexico in 2022, by wealth range (in 1,000s)." Chart. June 15, 2023. Statista. Accessed August 25, 2024. https://www.statista.com/statistics/1234470/mexico-adults-wealth-group/
Credit Suisse. (2023). Number of adults in Mexico in 2022, by wealth range (in 1,000s). Statista. Statista Inc.. Accessed: August 25, 2024. https://www.statista.com/statistics/1234470/mexico-adults-wealth-group/
Credit Suisse. "Number of Adults in Mexico in 2022, by Wealth Range (in 1,000s)." Statista, Statista Inc., 15 Jun 2023, https://www.statista.com/statistics/1234470/mexico-adults-wealth-group/
Credit Suisse, Number of adults in Mexico in 2022, by wealth range (in 1,000s) Statista, https://www.statista.com/statistics/1234470/mexico-adults-wealth-group/ (last visited August 25, 2024)
Number of adults in Mexico in 2022, by wealth range (in 1,000s) [Graph], Credit Suisse, June 15, 2023. [Online]. Available: https://www.statista.com/statistics/1234470/mexico-adults-wealth-group/