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Mapped: Countries With a Shrinking Consumer Class by 2030

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See this visualization first on the Voronoi app.

Map showing countries predicted to see a decline in the number of consumers over the next decade.

Visualizing Countries With a Shrinking Consumer Class by 2030

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.

Over 100 million people are expected to be added to the consumer class worldwide just in 2024.

Despite this, some countries are actually predicted to see a decline in their number of consumers over the coming years.

In this visualization, we list key countries that are losing consumers, using data from 2023 from the World Data Lab.

Demographic Changes Impacting Consumption

Under the definition used here, a consumer is classified as someone who spends at least $12 per day. Currently, more than half of the world’s population is considered to be in the consumer class—about 4 billion people in 2023.

According to World Data Lab research, demographic changes are the major factor driving increases and reductions in the number of consumers globally.

In Japan, where the most significant anticipated decline in consumer numbers is expected by 2030, the diminishing workforce and decreasing consumer base are mostly the consequence of the country’s low birth rate.

CountryDecrease in Consumer Class Size by 2030
🇹🇼 Taiwan-124,000
🇧🇬 Bulgaria-135,000
🇩🇪 Germany-152,000
🇵🇹 Portugal-178,000
🇮🇹 Italy-480,000
🇯🇵 Japan-3,600,000

Currently, more than half of all municipalities in Japan are designated as depopulated districts, with schools shutting down and over 1.2 million small businesses owned by older individuals or families lacking successors.

In Europe as well, a decline in both birth rates and an aging population is impacting consumption. Italy is expected to lose almost half a million consumers by the end of the decade. Births in Italy dropped to a historic low below 400,000 in 2022, and Italy’s dearth of babies is considered a national emergency.

The emigration of working-age individuals can also shrink a country’s consumer class. For instance, between 2019 and 2022, Taiwan’s population shrank by roughly 300,000.

As the age of the average consumer grows, the demand for healthcare services, leisure activities, and retirement-related offerings will increase.

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Top 10 Countries Most in Debt to the IMF

Argentina tops the ranking, with a debt equivalent to 5.3% of the country’s GDP.

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Bar chart showing the 10 countries most in debt to the IMF.

Top 10 Countries Most in Debt to the IMF

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.

Established in 1944, the International Monetary Fund (IMF) supports countries’ economic growth by providing financial aid and guidance on policies to enhance stability, productivity, and job opportunities.

Countries seek loans from the IMF to address economic crises, stabilize their currencies, implement structural reforms, and alleviate balance of payments difficulties.

In this graphic, we visualize the 10 countries most indebted to the fund.

Methodology

We compiled this ranking using the International Monetary Fund’s data on Total IMF Credit Outstanding. We selected the latest debt data for each country, accurate as of April 29, 2024.

Argentina Tops the Rank

Argentina’s debt to the IMF is equivalent to 5.3% of the country’s GDP. In total, the country owns more than $32 billion.

CountryIMF Credit Outstanding ($B)GDP ($B, 2024)IMF Debt as % of GDP
🇦🇷 Argentina32604.35.3
🇪🇬 Egypt11347.63.1
🇺🇦 Ukraine9188.94.7
🇵🇰 Pakistan7374.71.8
🇪🇨 Ecuador6121.64.9
🇨🇴 Colombia3386.10.8
🇦🇴 Angola392.13.2
🇰🇪 Kenya3104.02.8
🇬🇭 Ghana275.22.6
🇨🇮 Ivory Coast286.92.3

A G20 member and major grain exporter, the country’s history of debt trouble dates back to the late 1890s when it defaulted after contracting debts to modernize the capital, Buenos Aires. It has already been bailed out over 20 times in the last six decades by the IMF.

Five of the 10 most indebted countries are in Africa, while three are in South America.

The only European country on our list, Ukraine has relied on international support amidst the conflict with Russia. It is estimated that Russia’s full-scale invasion of the country caused the loss of a third of the country’s economy. The country owes $9 billion to the IMF.

In total, almost 100 countries owe money to the IMF, and the grand total of all of these debts is $111 billion. The above countries (top 10) account for about 69% of these debts.

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