Animated Chart: Which Countries Have the Most Wealth Per Capita?
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Which Countries Have the Most Wealth Per Capita?

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Animated Chart: Which Countries Have the Most Wealth Per Capita?

Which Countries Have the Most Wealth Per Capita?

Our animated chart this week uses data from the ninth Credit Suisse Global Wealth report, which ranks countries by average wealth, calculated as gross assets per adult citizen.

While using such a metric certainly gives a quick snapshot of wealth per capita, it doesn’t necessarily show the complete picture.

Some argue, for example, that calculating the mean doesn’t factor in the gap between the richest and poorest in a population—also known as wealth inequality. For this reason, we’ve compared this number to median wealth for each country, providing a separate angle on which countries really have the most wealth per capita.

Mean or Median: Which Makes More Sense?

Below, we’ve visualized a hypothetical example of two groups of people, each earning various sums of money, to show how average (mean) and median calculations make a difference.

Mean vs Median Comparison

What can we observe in both datasets?

  • Total wealth: $2,000
  • Total people: 15 people
  • Average wealth: $2,000 ÷ 15 = $133

However, that’s where the similarities end. In the first group, wealth is distributed more evenly, with the disparity between the lowest-paid and highest-paid being $300. The median wealth for this group reaches $100, which is close to the average value. In the second group, this gap climbs to $495, and the median wealth drops sharply to only $30.

Scaling up this example to the true wealth of nations, we can see how the median wealth provides a more accurate picture of the typical adult, especially in societies that are less equal.

Let’s see how this shakes out when ranking the world’s most affluent countries.

Ranking Top Contenders on Wealth per Capita

When it comes to wealth per capita, it’s clear that Australia and Switzerland lead the pack. In fact, the data shows that both nations top the lists for both mean and median wealth.

However, both nations also have the highest absolute household debt-to-GDP ratios in the world: in 2018, Switzerland’s levels reached nearly 129%, while Australia followed behind at 120%.

Here is a full ranking of the top 20 countries by mean and median wealth:

RankCountryMean wealth per adultCountryMedian wealth per adult
#1🇨🇭 Switzerland$530,244🇦🇺 Australia$191,453
#2🇦🇺 Australia$411,060🇨🇭 Switzerland$183,339
#3🇺🇸 United States$403,974🇧🇪 Belgium$163,429
#4🇧🇪 Belgium$313,045🇳🇱 Netherlands$114,935
#5🇳🇴 Norway$291,103🇫🇷 France$106,827
#6🇳🇿 New Zealand$289,798🇨🇦 Canada$106,342
#7🇨🇦 Canada$288,263🇯🇵 Japan$103,861
#8🇩🇰 Denmark$286,712🇳🇿 New Zealand$98,613
#9🇸🇬 Singapore$283,118🇬🇧 United Kingdom$97,169
#10🇫🇷 France$280,580🇸🇬 Singapore$91,656
#11🇬🇧 United Kingdom$279,048🇪🇸 Spain$87,188
#12🇳🇱 Netherlands$253,205🇳🇴 Norway$80,054
#13🇸🇪 Sweden$249,765🇮🇹 Italy$79,239
#14🇭🇰 Hong Kong$244,672🇹🇼 Taiwan$78,177
#15🇮🇪 Ireland$232,952🇮🇪 Ireland$72,473
#16🇦🇹 Austria$231,368🇦🇹 Austria$70,074
#17🇯🇵 Japan$227,235🇰🇷 South Korea$65,463
#18🇮🇹 Italy$217,727🇺🇸 United States$61,667
#19🇩🇪 Germany$214,893🇩🇰 Denmark$60,999
#20🇹🇼 Taiwan$212,375🇭🇰 Hong Kong$58,905

The United States boasts 41% of the world’s millionaires, but it’s clear that the fruits of labor are enjoyed by only a select group—average wealth ($403,974) is almost seven times higher than median wealth ($61,667). This growing inequality gap knocks the country down to 18th place for median wealth.

The Nordic countries of Norway and Denmark can be found in the top ten for average wealth, but they drop to 12th place ($80,054) and 19th place ($60,999) respectively for median wealth. Despite this difference, these countries also provide a strong safety net—including access to healthcare and education—to more vulnerable citizens.

Finally, wealth in Japan is fairly evenly distributed among its large middle class, which lands it in seventh place on the median wealth list at $103,861. One possible reason is that the pay gap ratio between Japanese CEOs and the average worker is much lower than other developed nations.

With reducing income inequality as a priority for many countries around the world, how might this list change in coming years?

Footnote: All data estimates are using mid-2018 values, and reflected in US$.

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Personal Finance

How Does Your Personality Type Affect Your Income?

Can your Myers–Briggs personality type impact how much you make? See for yourself with this breakdown of average income for all 16 personality types.

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How Does Your Personality Type Affect Your Income?

You’ve just finished giving a presentation at work, and an outspoken coworker challenges your ideas. Do you:

a) Engage in a friendly debate about the merits of each argument, or

b) Avoid a conflict by agreeing or changing the subject?

The way you approach this type of situation may influence how much money you earn.

Today’s infographic comes to us from Truity, and it outlines the potential relationship between personality type and income.

Through the Myers-Briggs Lens

The Myers-Briggs personality test serves as a robust framework for analyzing the connection between personality and income, in a way that is easily understood and familiar to many people.

The theory outlines four personality dimensions that are described using opposing traits.

  • Extraversion vs. Introversion: Extroverts gain energy by interacting with others, while introverts draw energy from spending time alone.
  • Sensing vs. Intuition: Sensors prefer concrete and factual information, while intuitive types use their imagination or wider patterns to interpret information.
  • Thinking vs. Feeling: Thinkers make rational decisions based on logic, while feelers make empathetic decisions considering the needs of others.
  • Judging vs. Perceiving: Judging types organize their life in a structured manner, while perceiving types are more flexible and spontaneous.

For example, someone who aligns with extraversion, sensing, thinking, and judging would be described as an ESTJ type.

The researchers surveyed over 72,000 people to measure these four personality preferences, as well as 23 unique facets of personality, income levels, and career-related data.

Traits With the Highest Earning Potential

Based on the above four dimensions, extroverts, sensors, thinkers, and judgers tend to be the most financially successful. Diving into specific personality characteristics, certain traits are more closely correlated with higher income.

Personality TypeAverage Income Advantage (Annual)Trait(s) Most Correlated With Income Advantage
Extroverts$9,347Expressive, Energetic, Prominent
Sensors$1,910Conceptual
Thinkers$8,411Challenging, Objective, Rational
Judgers$6,903Ambitious

For instance, extroverts are much more likely to have higher incomes if they are quick to share thoughts, have high energy, and like being in the public eye. Thinkers also score high on income potential, especially if they enjoy debates, make rational decisions, and moderate their emotions.

The Top Earners

Which personality types earn the highest incomes of all? Extroverted thinking types dominate the ranks again.

Myers-briggs personality highest earners

Source: Truity

The one exception is INTJs, with 10% earning an annual salary of $150K or more in their peak earning years.

Personality and the Gender Pay Gap

With all these factors in mind, the researchers analyzed whether personality differences would affect the gender pay gap.

When the average salaries were separated for men and women, the results were clear: men of almost all personality types earn more than the average income for the sample overall, while all but two personality types of women earned less than the average.

Myers briggs personality gender pay gap

Source: Truity

In fact, women with high-earning personality types still earn less than men who do not possess those traits. For example, extroverted women earn about $55,000 annually, while introverted men earn an average of over $64,000.

Maximizing Your Potential

Are the introverted personalities of the world doomed to lower salaries? Not necessarily—while personality does play a role, many other factors contribute to income levels:

  • Level of education
  • Years of experience
  • Local job market
  • Type of industry
  • The particular career

Not only that, anyone can work on the two specific personality traits most aligned with higher incomes: set ambitious goals, and face conflict head-on to ensure your voice is heard.

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Politics

Interactive Map: Tracking Global Hunger and Food Insecurity

Every day, hunger affects more than 700 million people. This live map from the UN highlights where hunger is hitting hardest around the world.

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The World Hunger Map

Interactive Map: Tracking Global Hunger and Food Insecurity

Hunger is still one the biggest—and most solvable—problems in the world.

Every day, more than 700 million people (8.8% of the world’s population) go to bed on an empty stomach, according to the UN World Food Programme (WFP).

The WFP’s HungerMap LIVE displayed here tracks core indicators of acute hunger like household food consumption, livelihoods, child nutritional status, mortality, and access to clean water in order to rank countries.

The World Hunger Map

After sitting closer to 600 million from 2014 to 2019, the number of people in the world affected by hunger increased during the COVID-19 pandemic.

In 2020, 155 million people (2% of the world’s population) experienced acute hunger, requiring urgent assistance.

The Fight to Feed the World

The problem of global hunger isn’t new, and attempts to solve it have making headlines for decades.

On July 13, 1985, at Wembley Stadium in London, Prince Charles and Princess Diana officially opened Live Aid, a worldwide rock concert organized to raise money for the relief of famine-stricken Africans.

The event was followed by similar concerts at other arenas around the world, globally linked by satellite to more than a billion viewers in 110 nations, raising more than $125 million ($309 million in today’s dollars) in famine relief for Africa.

But 35+ years later, the continent still struggles. According to the UN, from 12 countries with the highest prevalence of insufficient food consumption in the world, nine are in Africa.

Country % Population Affected by HungerPopulation (millions)Region
Afghanistan 🇦🇫93%40.4Asia
Somalia 🇸🇴68%12.3Africa
Burkina Faso 🇧🇫61%19.8Africa
South Sudan 🇸🇸60%11.0Africa
Mali 🇲🇱60%19.1Africa
Sierra Leone 🇸🇱55%8.2Africa
Syria 🇸🇾55%18.0Middle East
Niger 🇳🇪55%22.4Africa
Lesotho 🇱🇸50%2.1Africa
Guinea 🇬🇳48%12.2Africa
Benin 🇧🇯47%11.5Africa
Yemen 🇾🇪44%30.0Middle East

Approximately 30 million people in Africa face the effects of severe food insecurity, including malnutrition, starvation, and poverty.

Wasted Leftovers

Although many of the reasons for the food crisis around the globe involve conflicts or environmental challenges, one of the big contributors is food waste.

According to the United Nations, one-third of food produced for human consumption is lost or wasted globally. This amounts to about 1.3 billion tons of wasted food per year, worth approximately $1 trillion.

All the food produced but never eaten would be sufficient to feed two billion people. That’s more than twice the number of undernourished people across the globe. Consumers in rich countries waste almost as much food as the entire net food production of sub-Saharan Africa each year.

Solving Global Hunger

While many people may not be “hungry” in the sense that they are suffering physical discomfort, they may still be food insecure, lacking regular access to enough safe and nutritious food for normal growth and development.

Estimates of how much money it would take to end world hunger range from $7 billion to $265 billion per year.

But to tackle the problem, investments must be utilized in the right places. Specialists say that governments and organizations need to provide food and humanitarian relief to the most at-risk regions, increase agricultural productivity, and invest in more efficient supply chains.

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