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The Greek Exodus in One Chart

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The Greek Exodus in One Chart

The Greek Exodus in One Chart

The Chart of the Week is a weekly feature in Visual Capitalist on Fridays.

On Sunday, Greeks will participate in a referendum that could seal their fate. The people of Greece are between a rock and a hard place. On one hand, a “yes” vote will mean that they give into the extreme demands of their creditors, fostering an even harsher era of austerity for a Greek economy that has already slipped 25% in GDP since 2007. This will result in additional economic contraction, a likely resignation by Alexis Tsipras, and Finance Minister Yanis Varoufakis possibly cutting off his arm.

The “no” vote, which is being urged by the Syriza government, would mean the European Central Bank would be cutting off assistance to Greek banks and a possible Grexit. For a country that is reported to have only €500 million in bank deposits left, things are no less ugly here.

There is a blame game perpetuating itself through the media. Some people say the Greeks had it coming by taking advantage of easy credit, spending money frivolously (for example: 16.2% of GDP spending is on pensions, the highest in the euro zone), and then electing Syriza, an extremist government. The opposing side says that the intense standoff is the fault of the so-called troika, made up of the IMF, ECB, and Eurogroup. Recently, it’s becoming clear that even the troika acknowledges that Greece needs further debt relief, yet this was never offered up in negotiations. The IMF has now flat out said that the proposed additional austerity measures would leave Greece still with unsustainable debt.

While both sides are likely warranted some blame, what is clear is that the Greek people have seen the writing on the wall for some time. Today’s chart shows the Greek exodus, as capital and people flee the sinking Greek economic ship in unprecedented numbers.

Since the 2008 financial crisis, more Greeks have left the country each year with the trend accelerating in recent years. The country has a population of about 11 million, but the population has decreased annually by nearly 100,000 people in both 2013 and 2014. Based on how things are going this year, this trend is unlikely to change.

Further, capital is also fleeing the banks in what started as a “jog” but is now a “run”. In Q1 of 2015, there were over €20 billion of outflows from Greek bank deposits. June’s data is not available yet, but it is likely the recent quarter will far surpass this amount as it is now reported that there is only €500 million in bank deposits left. This would explain why capital controls are in place, banks are closed, and people are limited to €60 withdrawals.

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Markets

The Most Popular TV Brands in the U.S.

Korean brands dominate the U.S. TV market.

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A stacked bar chart ranking the most popular TV brands in the U.S.

The Most Popular TV Brands in the U.S.

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

Every year, over 40 million TVs are sold in the U.S., making the device a flagship technology in many American homes.

In this graphic, we illustrate the most popular TV brands in the U.S. based on a 2023 Statista survey of over 8,000 American adults. Respondents were asked, ‘What brand is your main TV?’

Korean Brands Dominate the U.S. TV Market

Samsung and LG combined account for 52% of the TV market share. Interestingly, the two firms have a partnership in place, with LG supplying OLED TV panels to Samsung since 2023.

TV BrandCountry% of Respondents
Samsung🇰🇷 South Korea33
LG🇰🇷 South Korea19
Vizio🇺🇸 U.S.11
Sony🇯🇵 Japan7
Hisense🇨🇳 China5
TCL🇨🇳 China5
Philips🇳🇱 Netherlands3
Insignia🇺🇸 U.S.2
Sanyo🇯🇵 Japan2
Toshiba🇯🇵 Japan2
Sharp🇯🇵 Japan1
Other or don't know--9

Vizio, a California-based company, holds the third position, but its TVs aren’t manufactured in the United States. Rather, they are produced by Taiwanese companies AmTran Technology and Foxconn, the latter being a major manufacturer of the iPhone.

Further down the ranking is Insignia, owned by U.S. retailer Best Buy. While it’s uncertain who produces Insignia TVs, some speculate they’re made by China’s Hisense.

Despite holding the largest market share, South Korea ranks behind Japan in terms of the number of companies among the top brands. Japan boasts four brands on our list, with Sony ranked 4th overall, capturing 7% of the responses.

Growing Market

The U.S. is witnessing a surge in demand for high-definition televisions, driven by consumers’ desire for a more immersive home viewing experience.

Globally, the U.S. leads in revenue generation, with the American TV market projected to generate $18.2 billion in revenue in 2024.

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