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$63 Trillion of World Debt in One Visualization

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$63 Trillion of World Debt in One Visualization

$63 Trillion of World Debt in One Visualization

If you add up all the money that national governments have borrowed, it tallies to a hefty $63 trillion.

In an ideal situation, governments are just borrowing this money to cover short-term budget deficits or to finance mission critical projects. However, around the globe, countries have taken to the idea of running constant deficits as the normal course of business, and too much accumulation of debt is not healthy for countries or the global economy as a whole.

The U.S. is a prime example of “debt creep” – the country hasn’t posted an annual budget surplus since 2001, when the federal debt was only $6.9 trillion (54% of GDP). Fast forward to today, and the debt has ballooned to roughly $20 trillion (107% of GDP), which is equal to 31.8% of the world’s sovereign debt nominally.

The World Debt Leaderboard

In today’s infographic, we look at two major measures: (1) Share of global debt as a percentage, and (2) Debt-to-GDP.

Let’s look at the top five “leaders” in each category, starting with share of global debt on a nominal basis:

RankCountriesDebt ($B)% of Global DebtDebt-to-GDP
#1United States$19,94731.8%107.1%
#2Japan$11,81318.8%239.3%
#3China$4,9767.9%44.3%
#4Italy$2,4543.9%132.6%
#5France$2,3753.8%96.3%

Together, just these five countries together hold 66% of the world’s debt in nominal terms – good for a total of $41.6 trillion.

Next, here’s the top five for Debt-to-GDP:

RankCountryDebt ($B)% of Global DebtDebt-to-GDP
#1Japan$11,81318.8%239.3%
#2Greece$3530.6%181.6%
#3Lebanon$750.1%148.7%
#4Italy$2,4543.9%132.6%
#5Portugal$2670.4%130.3%

While only Italy and Japan here are considered major economies on a global scale, the high debt levels of countries like Greece or Portugal are also important to monitor.

In the IMFโ€™s baseline scenario, Greeceโ€™s government debt will reach 275% of its GDP by 2060, when its financing needs will represent 62% of GDP.

A recent IMF report, obtained by Bloomberg

Greece, for example, is continuing along a particularly unsustainable path – and external creditors are getting stingier. Most recently, both the IMF and Greece’s euro-area creditors have demanded for the country to implement a law that automatically introduces austerity measures if a budget surplus of 3.5% of GDP isn’t hit.

While Greece has dismissed such demands as “unacceptable”, the country – along with many others around the globe – will have to accept that constant debt accumulation has eventual consequences.

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Mapped: The World’s Least Affordable Housing Markets in 2024

See which housing markets are considered ‘impossibly unaffordable’ according to their median price-to-income ratio.

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The World’s Least Affordable Housing Markets in 2024

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.

Many cities around the world have become very expensive to buy a home in, but which ones are the absolute most unattainable?

In this graphic, we highlight a number of housing markets that are deemed to be “impossibly unaffordable” in 2024, ranked by their median price-to-income ratio.

This data comes from the Demographia International Housing Affordability Report, which is produced by the Chapman University Center for Demographics and Policy.

Data and Key Takeaway

The median price-to-income ratio compares median house price to median household income within each market. A higher ratio (higher prices relative to incomes) means a city is less affordable.

See the following table for all of the data we used to create this graphic. Note that this analysis covers 94 markets across eight countries: Australia, Canada, China, Ireland, New Zealand, Singapore, the United Kingdom, and the United States.

RankMetropolitan MarketCountryMedian price-to-income
ratio
1Hong Kong (SAR)๐Ÿ‡จ๐Ÿ‡ณ China16.7
2Sydney๐Ÿ‡ฆ๐Ÿ‡บ Australia13.8
3Vancouver๐Ÿ‡จ๐Ÿ‡ฆ Canada12.3
4San Jose๐Ÿ‡บ๐Ÿ‡ธ U.S.11.9
5Los Angeles๐Ÿ‡บ๐Ÿ‡ธ U.S.10.9
6Honolulu๐Ÿ‡บ๐Ÿ‡ธ U.S.10.5
7Melbourne๐Ÿ‡ฆ๐Ÿ‡บ Australia9.8
8San Francisco๐Ÿ‡บ๐Ÿ‡ธ U.S.9.7
9Adelaide๐Ÿ‡ฆ๐Ÿ‡บ Australia9.7
10San Diego๐Ÿ‡บ๐Ÿ‡ธ U.S.9.5
11Toronto๐Ÿ‡จ๐Ÿ‡ฆ Canada9.3
12Auckland๐Ÿ‡ณ๐Ÿ‡ฟ New Zealand8.2

According to the Demographia report, cities with a median price-to-income ratio of over 9.0 are considered โ€œimpossibly unaffordableโ€.

We can see that the top city in this ranking, Hong Kong, has a ratio of 16.7. This means that the median price of a home is 16.7 times greater than the median income.

Which Cities are More Affordable?

On the flipside, here are the top 12 most affordable cities that were analyzed in the Demographia report.

RankMetropolitan MarketCountryMedian price-to-income
ratio
1Pittsburgh๐Ÿ‡บ๐Ÿ‡ธ U.S.3.1
2Rochester๐Ÿ‡บ๐Ÿ‡ธ U.S.3.4
2St. Louis๐Ÿ‡บ๐Ÿ‡ธ U.S.3.4
4Cleveland๐Ÿ‡บ๐Ÿ‡ธ U.S.3.5
5Edmonton๐Ÿ‡จ๐Ÿ‡ฆ Canada3.6
5Buffalo๐Ÿ‡บ๐Ÿ‡ธ U.S.3.6
5Detroit๐Ÿ‡บ๐Ÿ‡ธ U.S.3.6
5Oklahoma City๐Ÿ‡บ๐Ÿ‡ธ U.S.3.6
9Cincinnati๐Ÿ‡บ๐Ÿ‡ธ U.S.3.7
9Louisville๐Ÿ‡บ๐Ÿ‡ธ U.S.3.7
11Singapore๐Ÿ‡ธ๐Ÿ‡ฌ Singapore3.8
12Blackpool & Lancashire๐Ÿ‡ฌ๐Ÿ‡ง U.K.3.9

Cities with a median price-to-income ratio of less than 3.0 are considered “affordable”, while those between 3.1 and 4.0 are considered “moderately unaffordable”.

See More Real Estate Content From Visual Capitalist

If you enjoyed this post, be sure to check out Ranked: The Most Valuable Housing Markets in America.

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