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.
All World Languages in One Visualization
See the world’s major languages broken down by country in this stunning visualization.
All World Languages, By Native Speakers
View a high resolution version of today’s graphic by clicking here.
Languages provide a window into culture and history. They’re also a unique way to map the world – not through landmasses or geopolitical borders, but through mother tongues.
The Tower of Babel
Today’s infographic from Alberto Lucas Lopez condenses the 7,102 known living languages today into a stunning visualization, with individual colors representing each world region.
Only 23 languages are spoken by at least 50 million native speakers. What’s more, over half the planet speaks at least one of these 23 languages.
Chinese dominates as a macrolanguage, but it’s important to note that it consists of numerous languages. Mandarin, Yue (including Cantonese), Min, Wu, and Hakka cover over 200 individual dialects, which vary further by geographic location.
|Country||Native Chinese speakers (millions)|
|🇭🇰 Hong Kong SAR||6.5|
|🇲🇴 Macau SAR||0.5|
Chinese is one of the most challenging languages for English speakers to pick up, in part due its completely unfamiliar scripts. You’d have to know at least 3,000 characters to be able to read a newspaper, a far cry from memorizing the A-Z alphabet.
Spanglish Takes Over
After Chinese, the languages of Spanish and English sit in second and third place in terms of global popularity. The rapid proliferation of these languages can be traced back to the history of Spanish conquistadors in the Americas, and British colonies around the world.
Animation: Map of Colonization (1492 – 2008):
Today, Spanish has 399 million native speakers, but these are mostly concentrated in Latin America. English has 335 million native speakers under its belt, with a widespread reach all over the globe.
Two Worlds, One Family
While the visualization makes all the world languages seem disparate, this linguistic family tree shows how they grew from a common root. It also explains how languages can evolve and branch out over time.
Created by Minna Sundberg. Full version.
This linguistic tree also includes many languages that are not on the large visualization of 23 mother tongues. Some of them might be considered endangered or at risk today, such as Catalan or Welsh. However, with globalization, a few interesting linguistic trends are arising.
1. Language revival
Certain enclaves of marginalized languages are being preserved out of pride for the traditional and cultural histories attached.
While Catalan was once banned, its rebirth is a key marker of identity in Barcelona. More than 150 universities teach Catalan worldwide. In the case of Welsh, a mammoth university project plans to make sure it does not die out. Researchers are compiling ten million Welsh words to preserve the past, present, and future of the language.
2. Language forecast
At this point in time, English is the lingua franca – adopted as a common language among speakers with different mother tongues. However, this status might soon be fuzzier as demographic trends continue.
The rise of China is an obvious one to consider. As China continues to increase its economic might and influence, its languages will proliferate as well.
At the same time, 26 African countries are projected to double their current size, many of which speak French as a first language. One study by investment bank Natixis suggests that Africa’s growth may well bring French to the forefront – making it the most-spoken language by 2050.
Could French provide a certain je ne sais quoi that no other world language can quite replace?
This post was first published in 2018. We have since updated it, adding in new content for 2021.
Ranked: The World’s Fastest Growing Cities
Nearly 60% of the world’s population lives in cities and this trend is not slowing down—take a look at the world’s 20 fastest growing cities.
Ranked: The World’s Fastest Growing Cities
By 2025, the world’s population will reach over 8.1 billion people.
Most of that population growth will be concentrated in cities across Africa and Asia. To help paint a detailed picture, this map uses data from the United Nations to rank the top 20 fastest growing cities in the world in terms of average annual growth rate from 2020 to 2025.
Full Speed Ahead
The majority of the world’s fastest growing cities are located in Africa—in fact, 17 of the 20 are located on the continent, with four of the 20 cities being located in Nigeria specifically.
Population growth is booming across the entire continent, as many countries retain high birth rates. According to the World Bank, the 2019 fertility rate (births per woman) in Sub-Saharan Africa was 4.6, compared to the global fertility rate of 2.4.
|City||Country||Continent||Annual Growth (2020-2025p)|
|Kabinda||🇨🇩 Democratic Republic of Congo||Africa||6.37%|
|Bunia||🇨🇩 Democratic Republic of Congo||Africa||5.63%|
|Goma||🇨🇩 Democratic Republic of Congo||Africa||5.14%|
Nigeria’s economy is largely based on petroleum which has resulted in the country becoming one of the strongest economies in Africa. This, coupled with a high birth rate and a resulting young population, has given the country a strong and rising workforce.
However, the population growth in Nigeria is both a blessing and a curse. The success of the economy, among other factors, has resulted in excessive rural-to-urban migration. This mass exodus from rural areas has led to less farming, which means the country now needs to import basic food staples at a high cost.
In Mozambique, Tete and Quelimane are growing 5.56% and 5.14% respectively. The country is expected to experience strong economic growth after facing contractions due to the pandemic. Forecasts predict that the Mozambiques’s economy will grow 4% by 2022.
Implications of Fast Growth
All of the top 20 fastest growing cities are located in either Africa or Asia, and they are far outpacing growth on other continents, such as Europe, for example.
Fastest Growing Cities: Europe vs. Global
|Europe's Fastest Growing Cities||Growth Rate||World's Fastest Growing Cities||Growth Rate|
|🇷🇺 Balashikha, Russia||2.01%||🇳🇬 Gwagwalada||6.46%|
|🇷🇺 Tyumen, Russia||1.88%||🇨🇩 Kabinda||6.37%|
|🇦🇱 Tiranë (Tirana), Albania||1.63%||🇧🇩 Rupganj||6.36%|
|🇳🇴 Oslo, Norway||1.38%||🇳🇬 Lokoja||5.93%|
|🇷🇺 Sochi, Russia||1.33%||🇦🇴 Uige||5.92%|
|🇬🇧 Coventry-Bedworth, UK||1.32%||🇧🇮 Bujumbura||5.75%|
|🇸🇪 Stockholm, Sweden||1.25%||🇹🇿 Songea||5.74%|
|🇨🇭 Lausanne, Switzerland||1.23%||🇨🇳 Xiongan||5.69%|
|🇷🇺 Krasnodar, Russia||1.22%||🇳🇬 Potiskum||5.65%|
|🇷🇺 Surgut, Russia||1.17%||🇨🇩 Bunia||5.63%|
|🇷🇺 Podolsk, Russia||1.16%||🇲🇿 Tete||5.56%|
|🇮🇪 Dublin, Ireland||1.12%||🇦🇴 Cuito||5.48%|
|🇬🇧 London, UK||1.12%||🇮🇳 Hosur||5.38%|
|🇳🇱 Utrecht, Netherlands||1.11%||🇧🇯 Abomey-Calavi||5.27%|
|🇸🇪 Göteborg, Sweden||1.07%||🇳🇬 Nnewi||5.18%|
|🇫🇷 Toulouse, France||1.07%||🇦🇴 Malanje||5.17%|
|🇸🇪 Malmö, Sweden||1.05%||🇨🇲 Mbouda||5.16%|
|🇫🇷 Montpellier, France||1.04%||🇲🇿 Quelimane||5.14%|
|🇫🇷 Bordeaux, France||0.99%||🇺🇬 Kampala||5.14%|
|🇨🇭 Genève, Switzerland||0.99%||🇨🇩 Goma||5.14%|
By 2050, Sub-Saharan Africa will be home to close to 2 billion people and roughly half will be under the age of 25. This represents an enormous labor force and opportunities for innovation and growth. In fact, in navigating the pandemic, Africa is already starting to capitalize on digital advances in both traditional and new sectors.
China has its eye on Africa, as evidenced through their multiple investments in infrastructure projects in the continent. Additionally, NATO countries have recently committed to investing similar amounts in Africa to counter China’s influence.
In spite of the economic potential, increased city sizes could be problematic for some of these countries. They will need to adapt to the issues associated with mass urbanization, like pollution, overcrowding, and high costs of living.
Population booms can lead to massive economic growth, a larger (and younger) working population, and a growing domestic consumer market.
As the aforementioned cities continue their rapid expansion, and as people continue to flock to growing megacities in Africa and Asia, it could represent the beginning of an important economic shift that is worth keeping an eye on.
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