The world’s wealthiest people are also the most mobile.
High net worth individuals (HNWIs) – persons with wealth over US$1 million – may decide to pick up and move for a number of reasons. In some cases they are attracted by jurisdictions with more favorable tax laws, or less pollution and crime. Sometimes, they’re simply looking for a change of scenery.
Today’s graphic, using data from the annual Global Wealth Migration Review, maps the migration of the world’s millionaires, and clearly shows which countries are magnets for the world’s rich, and which countries are seeing a wealth exodus.
The Flight of the Millionaires
It’s no secret that China has been a wealth creation machine over the past two decades. Although the country is still making a number of its citizens very wealthy, over 15,000 Chinese HNWIs still chose to migrate to other countries in 2018 – the most significant migration of any country.
Here’s a look at the top countries by HNWI outflows:
|Country||Net Outflow of NHWIs (2018)||% of HNWIs lost|
|🇬🇧 United Kingdom||3,000||0%|
|🇸🇦 Saudi Arabia||1,000||2%|
Figures rounded to nearest 1000.
Unlike the middle class, wealthy citizens have the means to pick up and leave when things start to sideways in their home country. An uptick in HNWI migration from a country can often be a signal of negative economic or societal factors influencing a country.
This is the case in Turkey, which has been rocked by instability, mass protests, and an inflation rate estimated to be in the triple-digits by some sources.
For the third straight year, Turkey lost more than 4,000 millionaires. An estimated 10% of Turkey’s HNWIs fled in 2018, which is concerning because unlike China and India, the country is not producing new millionaires in any significant number.
Time-honored locations – such as Switzerland and the Cayman Islands – continue to attract the world’s wealthy, but no country is experiencing HNWI inflows quite like Australia.
The Land Down Under has a number of attributes that make it an attractive destination for migrating millionaires. The country has a robust economy, and is perceived as being a safe place to raise a family. Even better, Australia has no inheritance tax and a lower cost of health care, which can make it an attractive alternative to the U.S.
In 2018, Australia jumped ahead of both Canada and France to become the seventh largest wealth market in the world.
Here’s a look at HNWI inflows around the world:
|Country||Net Inflow of HNWIs (2018)||% of HNWI Gained|
|🇺🇸 United States||10,000||0%|
|🇦🇪 United Arab Emerates||2,000||2%|
|🇳🇿 New Zealand||1,000||1%|
Figures rounded to nearest 1000. *Bermuda, Cayman Islands, Virgin Islands, St Barts, Antigua, St Kitts & Nevis, etc
Greece, which was one of the worst performing wealth markets of the last decade, is finally seeing a modest inflow of millionaires again.
Assembling the World Country-by-Country, Based on Economy Size
How does the world map change if it gets assembled based on the size of economies, in ascending order of GDP or GDP per capita?
If you had to sketch a world map, you’d probably start with a place that is familiar.
Perhaps you would begin by drawing your own continent, or maybe you’d focus on the specific borders of the country you live in. Then, you’d likely move to drawing the outlines of neighboring countries, eventually working your way to far and distant lands.
This would be a logical way for anyone to think about such a task, and it gives some insight as to how humans think about the world.
We start with what’s familiar, and build it out until it’s a complete picture.
Assembling the World by Economy Size
What if we assembled a world map in a completely different order?
Today’s two animations come to us from Engaging-Data, and they approach the world map from an alternate angle: assembling countries on the map in the order of their economic footprints.
The first map, shown below, uses nominal GDP to assemble countries in ascending order:
This version of the map shows the smallest economies first, with the larger economies at the end.
For this reason, the first economies appearing on the map tend to be developing nations, or nations with smaller geographical or demographic footprints.
For example, even though the Falkland Islands are wealthy on a per capita basis, the British Overseas Territory has fewer than 4,000 people, which gives it a minor footprint on a global stage.
GDP per Capita (Nominal)
Now, let’s take a look at the same map, constructed in order of GDP per capita:
This animation is more cohesive, given that it is not dependent on population size. Instead the order here is based on economic output (in nominal terms) of the average person in each country or jurisdiction.
In this case, developing nations appear first – and at the end, more developed regions (like Europe and North America) tend to fill out.
Note: All rankings here are in nominal terms, which use market rates to calculate comparable values in U.S. dollars, while omitting the cost of living as a factor. GDP rankings change significantly when using PPP rates.
Other Ways to Assemble the World
While assembling nations based on GDP provides an interesting way to look at the world, this same approach can be tried by applying other statistics as well.
We recommend checking out this page, which allows you to “assemble the world” based on measures like population density, life expectancy, or population.
Median Age of the Population in Every Country
How do countries around the world compare in terms of age? This compelling visualization shows the median age for every country in the world.
The Median Age of the Population in Every Country
View the full-size version of the infographic by clicking here
With a few notable exceptions, the world is rapidly aging.
Today’s infographic, which was shared by Bill Gates on Reddit, shows this incredible explosion in age and how different countries contrast with one another on this demographic metric.
While aging populations in Europe, North America, and Asia stand out on this type of visualization, it’s also important to look at the negative space. In both South America and Africa, populations are still quite young, with Africa getting younger and younger.
Note: The infographic is grouped based on U.N. regional classifications, and lumps Central America, the Caribbean, and South America as one demographic region.
The Oldest Countries
Which countries are the outliers in terms of global demographics?
Let’s start by taking a look at the oldest countries in terms of median age.
|#2 (t)||Germany||45 years||Europe|
|#2 (t)||Italy||45 years||Europe|
|#4 (t)||Greece||44 years||Europe|
|#4 (t)||Bulgaria||44 years||Europe|
|#4 (t)||Portugal||44 years||Europe|
Japan takes the cake for the oldest population and it’s joined by a host of European nations.
The following countries tied for the #7 spot, which is just off of the above list: Austria, Croatia, Latvia, Lithuania, Slovenia, Spain, and Bermuda. All of these places had median ages of 43 years, with Bermuda being the only non-European state of this group.
It’s worth noting that some smaller countries appear to be excluded from Gates’ infographic. As we showed on our last chart covering the subject of median age, which uses a different data set, the small city-state of Monaco (which has a population of just 39,000 people) actually has the highest median age in the world at 53.1 years.
The Youngest Countries
Now, let’s take a peek at the world’s youngest countries in terms of median age.
|#1 (t)||Chad||14 years||Africa|
|#1 (t)||Niger||14 years||Africa|
|#3 (t)||Afghanistan||16 years||Middle East|
|#3 (t)||Angola||16 years||Africa|
|#3 (t)||Burkina Faso||16 years||Africa|
|#3 (t)||Mali||16 years||Africa|
|#3 (t)||Somalia||16 years||Africa|
|#3 (t)||South Sudan||16 years||Africa|
|#3 (t)||Uganda||16 years||Africa|
The youngest countries globally are Chad and Niger with a median population age of 14 years. Both are located in Sub-Saharan Africa.
The only non-African country is war-torn Afghanistan, where the median age is 16 years.
A variety of countries tied with a median age of 17 years old, which puts them just off of the above list. Those countries include: Benin, Burundi, Ethiopia, Madagascar, Malawi, Nigeria, Tanzania, Zambia, Yemen, and Timor-Leste.
More Context on Aging
Want to get an even better idea of what the world looks like as it ages?
To get a sense of change over the coming decades, it’s worth taking a look at this animation that shows median age projections with a focus on Western countries all the way until the year 2060.
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