Markets
Ranked: The 10 Wealthiest Countries in the World
The 10 Wealthiest Countries
The Chart of the Week is a weekly Visual Capitalist feature on Fridays.
According to market research company New World Wealth, the world has accumulated $215 trillion in private wealth, a 12% increase over the last year.
Incredibly, the vast majority of this wealth – about 73.5% – is held by just 10 countries:
| Rank | Country | Wealth ($ Trillions) | Change (2007-2017, %) |
|---|---|---|---|
| #1 | United States | $62.6 | 20% |
| #2 | China | $24.8 | 198% |
| #3 | Japan | $19.5 | 22% |
| #4 | United Kingdom | $9.9 | -2% |
| #5 | Germany | $9.7 | 0% |
| #6 | India | $8.2 | 160% |
| #7 | France | $6.6 | -11% |
| #8 | Canada | $6.4 | 25% |
| #9 | Australia | $6.1 | 83% |
| #10 | Italy | $4.3 | -19% |
Over the last decade, China and India have more than doubled their wealth. Meanwhile, developed economies like the United States and Japan have increased wealth at modest rates – and some, like Italy and France, even lost modest amounts of private wealth over that duration of time.
Finally, it should be noted that the United Kingdom’s decrease above is mainly due to the depreciation of the GBP, which dropped in dollar terms from roughly $2.00 to $1.35 over the decade in question.
Future Projections
How is global wealth expected to shift in the future?
According to New World Wealth, the same 10 countries will dominate the landscape – but the order will change considerably over the next decade:
| Proj. Rank | Country | Proj. Wealth ($ Trillions, 2027) | Change (2017-2027, %) |
|---|---|---|---|
| #1 | United States | $75.1 | 20% |
| #2 | China | $69.4 | 180% |
| #3 | Japan | $25.4 | 30% |
| #4 | India | $24.7 | 200% |
| #5 | United Kingdom | $10.9 | 10% |
| #6 | Germany | $10.6 | 10% |
| #7 | Australia | $10.4 | 70% |
| #8 | Canada | $8.3 | 30% |
| #9 | France | $7.3 | 10% |
| #10 | Italy | $4.7 | 10% |
While the ranking order of the top three wealthiest countries will remain the same, India is expected to shoot up 200% to claim the #4 position with $24.7 trillion in private wealth.
Meanwhile, France and Australia are two other significant movers – and they are going opposite directions.
France will continue its descent down the ranking to 9th place with just 10% growth in a decade, and Australia will increase wealth at a rate that is very impressive for a developed economy. By 2027, it’s expected to be the world’s seventh richest country in terms of private wealth, with a total of $10.4 trillion. That will rival powerhouses like Germany and the United Kingdom, each with private wealth near the $11 trillion mark.
For more on private wealth, see the 15 wealthiest cities as well the countries that are gaining (or losing) wealth at the fastest rates.
Economy
Economic Growth Forecasts for G7 and BRICS Countries in 2024
The IMF has released its economic growth forecasts for 2024. How do the G7 and BRICS countries compare?
G7 & BRICS Real GDP Growth Forecasts for 2024
The International Monetary Fund’s (IMF) has released its real gross domestic product (GDP) growth forecasts for 2024, and while global growth is projected to stay steady at 3.2%, various major nations are seeing declining forecasts.
This chart visualizes the 2024 real GDP growth forecasts using data from the IMF’s 2024 World Economic Outlook for G7 and BRICS member nations along with Saudi Arabia, which is still considering an invitation to join the bloc.
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Mixed Economic Growth Prospects for Major Nations in 2024
Economic growth projections by the IMF for major nations are mixed, with the majority of G7 and BRICS countries forecasted to have slower growth in 2024 compared to 2023.
Only three BRICS-invited or member countries, Saudi Arabia, the UAE, and South Africa, have higher projected real GDP growth rates in 2024 than last year.
| Group | Country | Real GDP Growth (2023) | Real GDP Growth (2024P) |
|---|---|---|---|
| G7 | 🇺🇸 U.S. | 2.5% | 2.7% |
| G7 | 🇨🇦 Canada | 1.1% | 1.2% |
| G7 | 🇯🇵 Japan | 1.9% | 0.9% |
| G7 | 🇫🇷 France | 0.9% | 0.7% |
| G7 | 🇮🇹 Italy | 0.9% | 0.7% |
| G7 | 🇬🇧 UK | 0.1% | 0.5% |
| G7 | 🇩🇪 Germany | -0.3% | 0.2% |
| BRICS | 🇮🇳 India | 7.8% | 6.8% |
| BRICS | 🇨🇳 China | 5.2% | 4.6% |
| BRICS | 🇦🇪 UAE | 3.4% | 3.5% |
| BRICS | 🇮🇷 Iran | 4.7% | 3.3% |
| BRICS | 🇷🇺 Russia | 3.6% | 3.2% |
| BRICS | 🇪🇬 Egypt | 3.8% | 3.0% |
| BRICS-invited | 🇸🇦 Saudi Arabia | -0.8% | 2.6% |
| BRICS | 🇧🇷 Brazil | 2.9% | 2.2% |
| BRICS | 🇿🇦 South Africa | 0.6% | 0.9% |
| BRICS | 🇪🇹 Ethiopia | 7.2% | 6.2% |
| 🌍 World | 3.2% | 3.2% |
China and India are forecasted to maintain relatively high growth rates in 2024 at 4.6% and 6.8% respectively, but compared to the previous year, China is growing 0.6 percentage points slower while India is an entire percentage point slower.
On the other hand, four G7 nations are set to grow faster than last year, which includes Germany making its comeback from its negative real GDP growth of -0.3% in 2023.
Faster Growth for BRICS than G7 Nations
Despite mostly lower growth forecasts in 2024 compared to 2023, BRICS nations still have a significantly higher average growth forecast at 3.6% compared to the G7 average of 1%.
While the G7 countries’ combined GDP is around $15 trillion greater than the BRICS nations, with continued higher growth rates and the potential to add more members, BRICS looks likely to overtake the G7 in economic size within two decades.
BRICS Expansion Stutters Before October 2024 Summit
BRICS’ recent expansion has stuttered slightly, as Argentina’s newly-elected president Javier Milei declined its invitation and Saudi Arabia clarified that the country is still considering its invitation and has not joined BRICS yet.
Even with these initial growing pains, South Africa’s Foreign Minister Naledi Pandor told reporters in February that 34 different countries have submitted applications to join the growing BRICS bloc.
Any changes to the group are likely to be announced leading up to or at the 2024 BRICS summit which takes place October 22-24 in Kazan, Russia.
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This visual is part of an exclusive special dispatch for VC+ members which breaks down the key takeaways from the IMF’s 2024 World Economic Outlook.
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