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Comparing Luxury Investment Around the World

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Comparing Luxury Investment Around the World

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Comparing Luxury Investment Around the World

Do you enjoy the finer things in life? For many of the world’s wealthy individuals, acquiring luxury goods such as art, fine wine, and watches is a passion.

Unlike traditional investments in financial assets, luxury goods can be difficult to value if one does not have an appreciation for their form. A rare painting, for example, does not generate cash flows, meaning its value is truly in the eye of the beholder.

To gain some insight into the market for luxury goods, this infographic takes data from Knight Frank’s 2021 Wealth Report to compare the preferences of nine global regions.

Global Tastes in Luxury Goods

To rank the most popular luxury investments in 2020, Knight Frank surveyed over 600 private bankers, wealth advisors, and family offices. The following table summarizes their findings, as well as each category’s growth according to the Knight Frank Luxury Investment Index.

Global Average RankingCategory10-year growth in asset values (%)
1Art71%
2Classic cars193%
3Watches89%
4Wine127%
5Jewelry67%
6Rare whiskey478%
7Furniture22%
8Colored diamonds39%
9Coins72%
10Handbags108%

Art was unmistakably the top category for 2020, ranking first in every geographic region except Africa and Asia, where it placed second instead. The global market for artwork was estimated to be worth $64 billion in 2019, and is often facilitated through auction houses such as Sotheby’s.

In terms of asset appreciation, rare whiskeys have climbed the most in value over the past 10 years. Connoisseurs of this spirit will be familiar with distilleries like The Macallan, whose rare bottles can sell for more than a million dollars.

Comparing Luxury Investment Between North America and Asia

Below, we’ve compared the rankings of Asia and North America to get a better idea of how preferences can vary.

The biggest differences here are watches, which ranked first in Asia but fourth in North America, and classic cars, which ranked second in North America but fifth in Asia. The remaining eight categories took similar spots across the two regions.

RankAsia PopularityNorth America Popularity
1WatchesArt
2ArtClassic cars
3JewelryWine
4WineWatches
5Classic carsJewelry
6Rare whiskeyRare whiskey
7HandbagsFurniture
8FurnitureHandbags
9Colored diamondsCoins (tied for 8th place)
10CoinsColored diamonds

Asia’s stronger preference for watches was likely driven by Chinese consumers, who are now the biggest buyers of luxury watches globally. Demand throughout the COVID-19 pandemic proved resilient, with exports of Swiss watches to China increasing by 17.1% between January and November 2020.

Classic cars, on the other hand, may be more popular in North America due to the region’s longer automotive history. Two of America’s most iconic automakers, Ford and General Motors, have both been around for over a century!

The Biggest Sales of 2020

Here were some of the most extravagant and noteworthy luxury sales from 2020.

Art

Francis Bacon’s 1981 Triptych Inspired by the Oresteia of Aeschylus was sold by Sotheby’s for $84.6 million in June 2020. A triptych is an artwork that is divided into three sections but displayed as a single piece.

Other paintings by Francis Bacon have sold for even larger amounts. In 2013, Three Studies of Lucian Freud was sold by Christie’s auction house for $142 million.

Classic Cars

A 1932 Bugatti Type 55 Super Sport Roadster sold for $7.1 million in March 2020, making it one of the biggest classic car sales of the year.

Founded in 1909, Bugatti has produced some of the world’s most sought-after cars. The French brand was acquired by the Volkswagen Group in 1998, and since then, has released numerous special edition cars with price tags reaching well into the millions.

Handbags

An Hermès Himalaya Niloticus Crocodile Retourné Kelly 25 sold for $437,330 in November 2020, becoming the most expensive handbag ever sold at an auction. Founded in 1837, Hermès is commonly regarded as one of the world’s most prestigious makers of handbags.

COVID-19 Dampens Luxury Investment

When compared to 2019, total sales for Sotheby’s declined 16% in 2020, while Christie’s, another leading auction house, reported a 25% decline. Despite these decreases, executives remain optimistic.

“The art and luxury markets have proven to be incredibly resilient, and demand for quality across categories is unabated.”
– Charles Stewart, CEO, Sotheby’s

The industry has been largely successful in transitioning to online operations, with Sotheby’s reporting that 70% of its auctions in 2020 were held online, up from 30% in the previous year.

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Business

How Powerful is Your Passport in a Post-Pandemic World?

Ranking the the world’s most powerful passports based on access to visa-free destinations. Where does your country fall on the list?

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How Powerful is Your Passport in a Post-Pandemic World?

With COVID-19 cases falling in many parts of the world and vaccination programs ramping up at warp speed, international travel no longer seems like a distant dream.

The Henley Passport Index, which has been regularly monitoring the world’s most travel-friendly passports since 2006, has released its latest rankings and analysis.

The most recent data provides insight into what travel freedom will look like in a post-pandemic world as countries selectively begin to open their borders to international visitors.

Prominent Countries Still Holding Strong

The rankings are based on the visa-free score of a particular country. A visa-free score refers to the number of countries that a passport holder can visit without a visa, with a visa on arrival, or by obtaining an electronic travel authorization (ETA).

Without considering the constantly changing COVID-19 restrictions, Japan firmly holds its position as the country with the strongest passport for the 4th year in a row.

This positioning is based on exclusive data from the International Air Transport Association (IATA)—with Japanese passport holders theoretically able to access a record 193 destinations from around the world visa-free.

The last time Japan didn’t hold the number one position was back in 2017, when it shared the 5th spot with countries like the United States, New Zealand, and Switzerland.

Rank (2021)CountryVisa-Free Score (2021)Rank (2011)Visa-Free Score (2011)
1🇯🇵 Japan1934170
2🇸🇬 Singapore1929164
3🇩🇪 Germany1912172
3🇰🇷 South Korea19110163
4🇫🇮 Finland1901173
4🇮🇹 Italy1903171
4🇱🇺 Luxembourg1903171
4🇪🇸 Spain1904170
5🇦🇹 Austria1896168
5🇩🇰 Denmark1891173

Singapore remains in 2nd place, with a visa-free score of 192, while Germany and South Korea again share joint-3rd place, each with access to 191 destinations.

Throughout the 16-year history of the Henley Index, EU countries have maintained a dominant position in the passport strength reports. Finland, Italy, Luxembourg and Spain all hold the 4th position while Austria and Denmark round up the top 5 with a visa-free score of 189.

CountryRank (2011)Rank (2021)Difference
🇺🇸 United States57-2
🇨🇦 Canada990
🇲🇽 Mexico29236
🇬🇧 United Kingdom37-4
🇧🇷 Brazil25178

The United States and the United Kingdom jointly share the 7th position with a visa-free score of 187 destinations. Canada, Mexico and Brazil hold the 9th, 23rd and 17th positions respectively, with Brazil experiencing a significant jump of eight places over the last 10 years.

Editor’s note: Visit the Henley Passport Index site for a full list and ranking of all countries around the world.

The Countries With The Least Travel Freedom

Afghanistan continues to be the country with the least amount of travel freedom, coming in last place (110th rank) with a visa-free score of 26 destinations. Iraq, Syria, Pakistan and Yemen have access to slightly more visa-free travel, but still linger at the bottom of the overall ranking.

Rank (2021)CountryVisa-Free Score (2021)Rank (2011)Visa-Free Score (2011)
110🇦🇫 Afghanistan2610124
109🇮🇶 Iraq2810028
108🇸🇾 Syria299337
107🇵🇰 Pakistan329931
106🇾🇪 Yemen339139

The latest report indicates that the gap in travel freedom is now at its largest since the index began in 2006. Japanese passport holders can access 167 more destinations than citizens of Afghanistan, who can visit only 26.

The Biggest Gainers In a Decade

Over time, small annual moves in the Henley Passport Index can make a big impact—and in the last decade, countries like China and the UAE have been the biggest movers:

China has risen by 22 places in the ranking since 2011 by going from a visa-free/visa-on-arrival score of 40 destinations to now 77.

The most remarkable turnaround story on the index by far, however, is the UAE. In 2011, the UAE was ranked 65th with a visa-free score of 67 destinations. Today, thanks to the Emirates’ ongoing efforts to strengthen diplomatic ties with countries across the globe, it is now ranked 15th with a remarkable visa-free score of 174 destinations.

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Maps

A Map of the Online World in Incredible Detail

This unique map provides an in-depth snapshot of the state of the world wide web, highlighting the most popular websites on the internet.

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A Map of the Online World in Incredible Detail

The internet is intangible, and because you can’t see it, it can be hard to comprehend its sheer vastness. As well, it’s difficult to gauge the relative size of different web properties. However, this map of the internet by Halcyon Maps offers a unique solution to these problems.

Inspired by the look and design of historical maps, this graphic provides a snapshot of the current state of the World Wide Web, as of April 2021. Let’s take a closer look!

But First, Methodology

Before diving into an analysis, it’s worth touching on the methodology behind this graphic’s design.

This map highlights thousands of the world’s most popular websites by visualizing them as “countries.” These “countries” are organized into clusters that are grouped by their content type (whether it’s a news website, search engine, e-commerce platform, etc).

Visual Capitalist on the mapEditor’s fun fact: Can you spot Visual Capitalist? We’re right in between TechCrunch and The Guardian above.

The colored borders represent a website’s logo or user interface. In terms of scale, each website’s territory size is based on its average Alexa web traffic ranking. The data is a yearly average, measured from January 2020 to January 2021.

Along the borders of the map, you can find additional information, from ranked lists of social media consumption to a mini-map of average download speeds across the globe.

According to the designer Martin Vargic, this map took about a year to complete.

Top 50 Most Popular Websites

Google and YouTube take up a lot of space, which is unsurprising—they’re the two highest-ranked websites on the list:

RankWebsiteCountry
1Google.com🇺🇲 U.S.
2Youtube.com🇺🇲 U.S.
3Tmall.com🇨🇳 China
4Baidu.com🇨🇳 China
5QQ.com🇨🇳 China
6Sohu.com🇨🇳 China
7Facebook.com🇺🇲 U.S.
8Taobao.com🇨🇳 China
9Amazon.com🇺🇲 U.S.
10360.cn🇨🇳 China
11Yahoo.com🇺🇲 U.S.
12Jd.com🇨🇳 China
13Zoom.us🇺🇲 U.S.
14Wikipedia.com🇺🇲 U.S.
15Weibo.com🇨🇳 China
16Sina.com.cn🇨🇳 China
17Live.com🇺🇲 U.S.
18Xinhuanet.com🇨🇳 China
19Microsoft.com🇺🇲 U.S.
20Reddit.com🇺🇲 U.S.
21Office.com🇺🇲 U.S.
22Netflix.com🇺🇲 U.S.
23Microsoftonline.com🇺🇲 U.S.
24Panda.tv🇨🇳 China
25Zhanqi.tv🇨🇳 China
26Instagram.com🇺🇲 U.S.
27Force.com🇺🇲 U.S.
28Google.com.hk🇭🇰 Hong Kong
29VK.com🇷🇺 Russia
30Alipay.com🇨🇳 China
31Csdn.net🇨🇳 China
32Myshopify.com🇨🇦 Canada
33Okezone.com🇮🇩 Indonesia
34Bing.com🇺🇲 U.S.
35Yahoo.co.jp🇯🇵 Japan
36Naver.com🇰🇷 South Korea
37Adobe.com🇺🇲 U.S.
38Salesforce.com🇺🇲 U.S.
39Ebay.com🇺🇲 U.S.
40Twitch.tv🇺🇲 U.S.
41Bongacams.com🇳🇱 Netherlands
42Twitter.com🇺🇲 U.S.
43Apple.com🇺🇲 U.S.
44Amazon.in🇮🇳 India
45Amazon.co.jp🇯🇵 Japan
46Aliexpress.com🇨🇳 China
47Aparat.com🇮🇷 Iran
48Linkedin.com🇺🇲 U.S.
49Huanqiu.com🇨🇳 China
50YY.com🇨🇳 China

Google has held the title as the internet’s most popular website since 2010. While Google’s popularity is well understood, the company’s dominance might be even more widespread than you’d think—across all Google-owned platforms (including YouTube) the company accounts for 90% of all internet searches.

The third highest ranked website is Tmall. For those who don’t know, Tmall is a Chinese e-commerce platform, owned by Alibaba Group. It focuses on Business-to-Consumer (B2C) transactions, and has established itself as the most popular e-commerce website in China—in Q1 2021, Tmall accounted for more than 50% of China’s B2C online transactions.

A High Level Look

When it comes to the top 50 websites overall, a majority are either social networking platforms, search engines, or online marketplaces—while this may not come as a surprise, it’s still powerful to see visualized. For instance, even a huge, well-known website like the New York Times is just a tiny country on this map.

And of course, a map of the internet isn’t complete without mention of the dark web.

While it’s challenging to determine its true size, research indicates that the dark web accounts for a large portion of the internet’s true size. And apparently, it’s growing steadily, with the help of anonymous cryptocurrencies like Bitcoin.

For the most part, it’s believed that the dark web is used for unsavory reasons—however, it’s not all bad. Because of its anonymous nature, it can be used as a safe space for whistleblowing or activism.

Overall, this map, and the internet as a whole, has many places for us to explore. When you dive in, what “countries” catch your eye?

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