If all the worlds income was divided by all the world's familys, what would be the average family income ?

Question

If all the worlds income was divided by all the world's familys, what would be the average family income ?

Answer 1

World GDP in 2007: 54,347,038,000,000 nominal dollars

World population: 6,665,500,000 people

GDP per person (it also means gross income - before taxes):

GDP/Population = 8'153 nominal (2007) $.

- minus taxes, transfers etc = 8'153 * 0.7 =

=5,707 nominal (2007) $ =

= 3'749 $ in 1991 CPI prices =

= 6'023 $ in 2008 CPI prices.

(US - considered CPI - though price level actually in different countries changed differently, and it only consumer prices without producer prices, plus taxes may be different in different countries, etc, there too many guess-type assumptions)

Depending on average family size (from 2 to 3 or even more) you can calculate average per-family income, for instance if average family consists of 2.5 persons then average income would be 6'023*2.5= 15'057 $(2008)

Answer 2

What a great question.  I hope someone knows how to figure that out.

I saw a great book that showed families from all over the world with all their belongings spread out.  Families in Africa, Asia, the US, it was incredible, the diversity.

If you divided it per person it would be easier to figure out because families numbers are so variable.

As of 1991 figures the per capita amount was about 3,100.  Am trying to find more recent figures. will edit in if found.