Money

Mapped: The World’s Ultra-Rich, by Country

Published

4 years ago

April 14, 2020

Dorothy Neufeld

Graphics/Design:

Nick Routley

Mapped: The World's Ultra-Rich, by Country

Mapped: The World’s Ultra-Rich, by Country

The global number of ultra-high net-worth individuals (UHNWIs) — those with over $30 million in assets — has continued to rise over the years.

Today’s infographic draws data from Knight Frank’s 2020 Wealth Report released in March, and it shows which countries have the highest number of UHNWIs, as well as how that number is projected to change in years to come.

No Ordinary Millionaire

To start, let’s look at where the world’s wealthiest could be found in 2019, which is both the peak of the decade-long bull market and the most recent year of data covered by the report.

Rank	Country	Ultra-High Net Worth Population	1-Year Change (%)
#1	🇺🇸 United States	240,575	5.9%
#2	🇨🇳 China	61,587	14.7%
#3	🇩🇪 Germany	23,078	0.8%
#4	🇫🇷 France	18,776	7.9%
#5	🇯🇵 Japan	17,013	17.0%
#6	🇬🇧 UK	14,367	3.6%
#7	🇮🇹 Italy	10,701	20.8%
#8	🇨🇦 Canada	9,325	5.3%
#9	🇷🇺 Russia	8,924	3.9%
#10	🇨🇭 Switzerland	8,395	3.0%
#11	🇪🇸 Spain	6,475	-1.1%
#12	🇮🇳 India	5,986	0.2%
#13	🇰🇷 South Korea	5,847	21.6%
#14	🇸🇪 Sweden	5,174	0.3%
#15	🇸🇦 Saudi Arabia	5,100	0.0%

While the U.S. maintained its foothold, the ultra-rich in South Korea and Italy have grown over 20% each since 2018. An economic model focused on exports, conglomerates, and select manufacturing industries could likely be behind the UHNWI boom in South Korea.

Interestingly, the number of ultra-wealthy in Saudi Arabia increased by only one individual between 2018 and 2019.

Multi-Millionaire Next Door

Taking a closer look, what made up the wealth of this ultra rich population? Knight Frank found that 27% of UHNWI wealth was locked up in property investments:

Property as an Investment	Equities	Bonds/Fixed Income	Cash	Private Equity	Collectables	Gold/Precious Metals	Crypto
27%	23%	17%	11%	8%	5%	3%	1%

In terms of more liquid assets, the average UHNWI held 23% of their wealth in equities, 17% in bonds, 11% in cash, and 3% in precious metals. It will be illuminating to see how, or if, this changes in the aftermath of the ongoing COVID-19 economic crisis.

The Future Destination Hubs

Fast-forward to 2024, and Knight Frank estimates that the global hotspots of the world’s wealthiest will remain consistent, with some notable winners over the decade.

UHNWI Population Growth (2014-2024)

The greatest difference will be the rising cohort of the ultra-wealthy in China and India, both projected to grow by triple digits between 2014 and 2024. This burgeoning middle class in China is driving domestic consumption and is transforming the consumer landscape.

Rank	Country	UHNWIs (Projected, 2024)	10-Year Change (Projected, %)
#1	🇺🇸 U.S.	293,136	67.0%
#2	🇨🇳 China	97,082	135.8%
#3	🇩🇪 Germany	26,819	45.0%
#4	🇫🇷 France	22,728	29.7%
#5	🇯🇵 Japan	19,110	63.3%
#6	🇬🇧 UK	18,818	36.7%
#7	🇮🇹 Italy	12,508	17.6%
#8	🇨🇦 Canada	11,928	54.8%
#9	🇷🇺 Russia	11,019	4.8%
#10	🇮🇳 India	10,354	238.3%

As the ripple effects of COVID-19 continue to take hold, experts pose differing opinions on how its impacts on the global economy will unfold.

Could the crash hasten the number of ultra-rich as inequality is laid bare, or will wealth be redistributed in response to the unprecedented crisis?

Related Topics:money wealth maps ultra rich global economy

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Money

How Debt-to-GDP Ratios Have Changed Since 2000

See how much the debt-to-GDP ratios of advanced economies have grown (or shrank) since the year 2000.

Published

11 hours ago

April 18, 2024

Marcus Lu

How Debt-to-GDP Ratios Have Changed Since 2000

This was originally posted on our Voronoi app. Download the app for free on Apple or Android and discover incredible data-driven charts from a variety of trusted sources.

Government debt levels have grown in most parts of the world since the 2008 financial crisis, and even more so after the COVID-19 pandemic.

To gain perspective on this long-term trend, we’ve visualized the debt-to-GDP ratios of advanced economies, as of 2000 and 2024 (estimated). All figures were sourced from the IMF’s World Economic Outlook.

Data and Highlights

The data we used to create this graphic is listed in the table below. “Government gross debt” consists of all liabilities that require payment(s) of interest and/or principal in the future.

Country	2000 (%)	2024 (%)	Change (pp)
🇯🇵 Japan	135.6	251.9	+116.3
🇸🇬 Singapore	82.3	168.3	+86.0
🇺🇸 United States	55.6	126.9	+71.3
🇬🇧 United Kingdom	36.6	105.9	+69.3
🇬🇷 Greece	104.9	160.2	+55.3
🇫🇷 France	58.9	110.5	+51.6
🇵🇹 Portugal	54.2	104.0	+49.8
🇪🇸 Spain	57.8	104.7	+46.9
🇸🇮 Slovenia	25.9	66.5	+40.6
🇫🇮 Finland	42.4	76.5	+34.1
🇭🇷 Croatia	35.4	61.8	+26.4
🇨🇦 Canada	80.4	103.3	+22.9
🇨🇾 Cyprus	56.0	70.9	+14.9
🇦🇹 Austria	65.7	74.0	+8.3
🇸🇰 Slovak Republic	50.5	56.5	+6.0
🇩🇪 Germany	59.3	64.0	+4.7
🇧🇪 Belgium	109.6	106.8	-2.8
🇮🇱 Israel	77.4	56.8	-20.6
🇮🇸 Iceland	75.8	54.6	-21.2

The debt-to-GDP ratio indicates how much a country owes compared to the size of its economy, reflecting its ability to manage and repay debts. Percentage point (pp) changes shown above indicate the increase or decrease of these ratios.

Countries with the Biggest Increases

Japan (+116 pp), Singapore (+86 pp), and the U.S. (+71 pp) have grown their debt as a percentage of GDP the most since the year 2000.

All three of these countries have stable, well-developed economies, so it’s unlikely that any of them will default on their growing debts. With that said, higher government debt leads to increased interest payments, which in turn can diminish available funds for future government budgets.

This is a rising issue in the U.S., where annual interest payments on the national debt have surpassed $1 trillion for the first time ever.

Only 3 Countries Saw Declines

Among this list of advanced economies, Belgium (-2.8 pp), Iceland (-21.2 pp), and Israel (-20.6 pp) were the only countries that decreased their debt-to-GDP ratio since the year 2000.

According to Fitch Ratings, Iceland’s debt ratio has decreased due to strong GDP growth and the use of its cash deposits to pay down upcoming maturities.