An Investing Megatrend: How Demographics and Social Changes are Shaping the Future

Animation: The Global Population Over 300 Years, by Country

Since the 1800s, our global population has grown from 984 million people to almost 8 billion—an increase of more than 700%.

Which regions around the world have led this growth, and what’s expected for the rest of the century? This animated visualization by James Eagle shows 300 years of population growth, including historical figures as well as projections up to the year 2100.

Asia’s Current Dominance

For centuries, more than half of the world’s population has been concentrated in Asia. At certain points throughout history, the region has made up nearly 70% of the world’s population.

Here’s a look at 2021 figures, and how large each region’s population is relative to each other:

China and India have been Asia’s largest population hubs, with China historically leading the front. In the 1950s China’s population was nearly double the size of India’s, but the gap has fluctuated over the years.

As China’s population growth continued, it was causing problems for the country as it struggled to scale up food production and infrastructure. By 1979, the Chinese government rolled out a one-child policy in an attempt to control the situation.

The program, which ended in 2016, had a number of unintended ramifications, but ultimately, it did succeed in slowing down the country’s population growth. And now, India is projected to overtake China as the world’s most populous country as early as 2023.

Africa’s Growing Piece of the Pie

Although Asia dominates the charts when it comes to overall population numbers currently, Africa’s growing population numbers are often overlooked.

While the continent’s total population is smaller than Asia’s, it will soon be home to the world’s largest working-age population, which could have a significant impact on the global economy in the years ahead.

This growth is being led by Nigeria, Africa’s most populous country. With megacities like Lagos (metro population: 21 million) and over 217 million inhabitants in total, Nigeria is projected to be the world’s third most populous country by the year 2050. Nigeria’s rapid growth is largely thanks to its high birth rate, which is nearly double the global average.

The Actual Working Hours of Different Income Levels

Do you really need to work 100-hour weeks for success?

In 2021, America’s top 10% of income earners made at least $129,181 a year—more than double the average individual income across the country.

When looking at differences between income groups, there are many preconceived notions about the work involved. But what are the actual average working hours for different income groups?

This graphic by Ruben Berge Mathisen uses the latest U.S. Census data to show the average working hours of Americans at different income levels.

Comparing Average Work Weeks

The data used for this graphic comes from the U.S. Census Bureau’s May 2022 Current Population Survey, which surveys more than 8,000 Americans from various socioeconomic backgrounds.

Importantly, the data reflects the average work hours that respondents in each income percentile “actually” work each week, and not what’s on their contract. This also includes overtime, other jobs, or side gigs.

According to the survey data, America’s top 10% income percentile works 4.4 hours more each week than those in the bottom 10%. And in surveys across other countries, though with hundreds of respondents instead of thousands, the discrepancy was similar:

While both income and wealth gaps are generally widening globally, it’s interesting to see that higher earners aren’t necessarily working more hours to achieve their increasingly larger salaries.

In fact, the top 10% in the 27 countries shown in the graphic are actually working around 1 hour less each week than the bottom 10%, at least among full-time workers.

Zooming Out: Average Working Hours per Country

Similarities arise when comparing average working hours across different countries. For starters, people living in poorer countries typically work longer hours.

According to Our World in Data, the average worker in Cambodia works about 9.4 hours a day, while in Switzerland, people work an average of 6 hours a day.

While many factors contribute to this discrepancy in working hours, one large factor cited is tech innovation, or things like physical machines, processes, and systems that make work more efficient and productive. This allows wealthier countries (and industries) to increase their output without putting in as many hours.

For example, from 1948 to 2011, farm production per hour in the U.S. became 16x more productive, thanks to innovations like improved machinery, better fertilizers, and more efficient land management systems.