The $80 Trillion World Economy in One Chart
Check out the latest 2023 update of the world economy in one chart.
The latest estimate from the World Bank puts global GDP at roughly $80 trillion in nominal terms for 2017.
Today’s chart from HowMuch.net uses this data to show all major economies in a visualization called a Voronoi diagram – let’s dive into the stats to learn more.
The World’s Top 10 Economies
Here are the world’s top 10 economies, which together combine for a whopping two-thirds of global GDP.
|Rank||Country||GDP||% of Global GDP|
|#1||United States||$19.4 trillion||24.4%|
|#5||United Kingdom||$2.62 trillion||3.3%|
In nominal terms, the U.S. still has the largest GDP at $19.4 trillion, making up 24.4% of the world economy.
While China’s economy is far behind in nominal terms at $12.2 trillion, you may recall that the Chinese economy has been the world’s largest when adjusted for purchasing power parity (PPP) since 2016.
The next two largest economies are Japan ($4.9 trillion) and Germany ($4.6 trillion) – and when added to the U.S. and China, the top four economies combined account for over 50% of the world economy.
Movers and Shakers
Over recent years, the list of top economies hasn’t changed much – and in a similar visualization we posted 18 months ago, the four aforementioned top economies all fell in the exact same order.
However, look outside of these incumbents, and you’ll see that the major forces shaping the future of the global economy are in full swing, especially when it comes to emerging markets.
Here are some of the most important movements:
India has now passed France in nominal terms with a $2.6 trillion economy, which is about 3.3% of the global total. In the most recent quarter, Indian GDP growth saw its highest growth rate in two years at about 8.2%.
Brazil, despite its very recent economic woes, surpassed Italy in GDP rankings to take the #8 spot overall.
Turkey has surpassed The Netherlands to become the world’s 17th largest economy, and Saudi Arabia has jumped past Switzerland to claim the 19th spot.
Ranked: Top TV Advertising Spenders in 2023
Which companies spend the most on traditional TV advertising? From pharmaceutical giants to big tech firms, we show the top spenders in 2023.
The Top TV Advertising Spenders in 2023
In 2023, advertising spend is projected to reach $61.3 billion on U.S. broadcast and cable TV.
Despite declining viewership, traditional TV has been found to be an optimal platform for storytelling ads. Additionally, advertisers can target viewer segments on traditional TV—similar to digital marketing channels.
The above graphic shows the top advertisers on traditional TV outlets, based on data from Nielsen.
Top 10 National TV Advertising Spenders
Here are the top advertisers on national U.S. broadcast and cable TV for the month of June 2023:
|Rank||Parent Company||Industry||Ad Spending|
|1||Procter & Gamble||Consumer Packaged Goods||$109.3M||27.1B|
|4||Walt Disney||Media / Entertainment||$47.0M||5.7B|
|8||Warner Bros. Discovery||Media / Entertainment||$34.1M||5.1B|
|9||Pepsico||Consumer Packaged Goods||$33.7M||6.8B|
|10||Amazon||Technology / Retail / Media||$31.9M||4.9B|
Procter & Gamble was the top TV advertising spender in the U.S., at $109.3 million. Home to Gillette, Crest, and Tide, the company spent a stunning $5.1 billion in overall advertising in 2022.
Pharmaceutical companies Abbvie and GSK were the next biggest spenders, at $81.4 million and $52.8 million, respectively. Overall, pharmaceuticals accounted for the largest share of advertising across the top 10.
Big tech companies Alphabet and Amazon also made the list, each spending over $30 million in June alone.
Top 10 Local TV Advertising Spenders
By contrast, the automotive sector made up seven of the top 10 local broadcast and cable TV advertisers, led by General Motors and Toyota:
|Rank||Parent Company||Industry||Ad Spending|
|7||Morgan & Morgan||Legal Services||$12.6M||1.7B|
Meanwhile, communication giants Comcast and Charter were big spenders, and the nation’s largest personal injury law firm, Morgan & Morgan, ranked in seventh overall.
U.S. Television Trends
Today, live TV viewership in the U.S. is primarily made up of those aged 65 and over, which spend nearly five hours per day watching TV. In contrast, those aged 25-34 spend only about one hour and 12 minutes per day watching live TV.
Furthermore, in 2022, fewer than half of U.S. viewers paid for traditional TV services for the first time. By year-end 2027, this proportion is projected to fall to just over a third of households.
Yet due to its scale of available media inventory, traditional TV may continue to bring in the bulk of TV advertising spending over the near future. One reason is that advertising makes up 20% of time spent on traditional TV but just 3% on streaming platforms.
However, as viewership declines, advertisers on live TV say that they are most likely to allocate their ad spend to streaming services. By year-end 2027, ad spend on streaming platforms is projected to jump to $40.9 billion, a 63% increase from 2023.
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