Connect with us

Maps

Mapped: The World’s Ultra-Rich, by Country

Published

on

Mapped: The World's Ultra-Rich, by Country

Mapped: The World’s Ultra-Rich, by Country

The global number of ultra-high net-worth individuals (UHNWIs) — those with over $30 million in assets — has continued to rise over the years.

Today’s infographic draws data from Knight Frank’s 2020 Wealth Report released in March, and it shows which countries have the highest number of UHNWIs, as well as how that number is projected to change in years to come.

No Ordinary Millionaire

To start, let’s look at where the world’s wealthiest could be found in 2019, which is both the peak of the decade-long bull market and the most recent year of data covered by the report.

RankCountryUltra-High Net Worth Population1-Year Change (%)
#1🇺🇸 United States240,5755.9%
#2🇨🇳 China61,58714.7%
#3🇩🇪 Germany23,0780.8%
#4🇫🇷 France18,7767.9%
#5🇯🇵 Japan17,01317.0%
#6🇬🇧 UK14,3673.6%
#7🇮🇹 Italy10,70120.8%
#8🇨🇦 Canada9,3255.3%
#9🇷🇺 Russia8,9243.9%
#10🇨🇭 Switzerland8,3953.0%
#11🇪🇸 Spain6,475-1.1%
#12🇮🇳 India5,9860.2%
#13🇰🇷 South Korea5,84721.6%
#14🇸🇪 Sweden5,1740.3%
#15🇸🇦 Saudi Arabia5,1000.0%

While the U.S. maintained its foothold, the ultra-rich in South Korea and Italy have grown over 20% each since 2018. An economic model focused on exports, conglomerates, and select manufacturing industries could likely be behind the UHNWI boom in South Korea.

Interestingly, the number of ultra-wealthy in Saudi Arabia increased by only one individual between 2018 and 2019.

Multi-Millionaire Next Door

Taking a closer look, what made up the wealth of this ultra rich population? Knight Frank found that 27% of UHNWI wealth was locked up in property investments:

Property as an InvestmentEquitiesBonds/Fixed IncomeCashPrivate EquityCollectablesGold/Precious MetalsCrypto
27%23%17%11%8%5%3%1%

In terms of more liquid assets, the average UHNWI held 23% of their wealth in equities, 17% in bonds, 11% in cash, and 3% in precious metals. It will be illuminating to see how, or if, this changes in the aftermath of the ongoing COVID-19 economic crisis.

The Future Destination Hubs

Fast-forward to 2024, and Knight Frank estimates that the global hotspots of the world’s wealthiest will remain consistent, with some notable winners over the decade.

UHNWI Population Growth (2014-2024)

The greatest difference will be the rising cohort of the ultra-wealthy in China and India, both projected to grow by triple digits between 2014 and 2024. This burgeoning middle class in China is driving domestic consumption and is transforming the consumer landscape.

RankCountryUHNWIs (Projected, 2024)10-Year Change (Projected, %)
#1🇺🇸 U.S.293,13667.0%
#2🇨🇳 China97,082135.8%
#3🇩🇪 Germany26,81945.0%
#4🇫🇷 France22,72829.7%
#5🇯🇵 Japan19,11063.3%
#6🇬🇧 UK18,81836.7%
#7🇮🇹 Italy12,50817.6%
#8🇨🇦 Canada11,92854.8%
#9🇷🇺 Russia11,0194.8%
#10🇮🇳 India10,354238.3%

As the ripple effects of COVID-19 continue to take hold, experts pose differing opinions on how its impacts on the global economy will unfold.

Could the crash hasten the number of ultra-rich as inequality is laid bare, or will wealth be redistributed in response to the unprecedented crisis?

Subscribe to Visual Capitalist

Thank you!
Given email address is already subscribed, thank you!
Please provide a valid email address.
Please complete the CAPTCHA.
Oops. Something went wrong. Please try again later.

Comments

Maps

Mapped: The State of Facial Recognition Around the World

Mass surveillance is becoming the status quo. This map dives into the countries where facial recognition technology is in place, and how it’s used.

Published

on

Mapping The State of Facial Recognition Around the World

View the high resolution version of this infographic by clicking here.

From public CCTV cameras to biometric identification systems in airports, facial recognition technology is now common in a growing number of places around the world.

In its most benign form, facial recognition technology is a convenient way to unlock your smartphone. At the state level though, facial recognition is a key component of mass surveillance, and it already touches half the global population on a regular basis.

Today’s visualizations from SurfShark classify 194 countries and regions based on the extent of surveillance.

Facial Recognition StatusTotal Countries
In Use98
Approved, but not implemented12
Considering technology13
No evidence of use68
Banned3

Click here to explore the full research methodology.

Let’s dive into the ways facial recognition technology is used across every region.

North America, Central America, and Caribbean

In the U.S., a 2016 study showed that already half of American adults were captured in some kind of facial recognition network. More recently, the Department of Homeland Security unveiled its “Biometric Exit” plan, which aims to use facial recognition technology on nearly all air travel passengers by 2023, to identify compliance with visa status.

Facial Recognition North America Map

Perhaps surprisingly, 59% of Americans are actually in favor of implementing facial recognition technology, considering it acceptable for use in law enforcement according to a Pew Research survey. Yet, some cities such as San Francisco have pushed to ban surveillance, citing a stand against its potential abuse by the government.

Facial recognition technology can potentially come in handy after a natural disaster. After Hurricane Dorian hit in late summer of 2019, the Bahamas launched a blockchain-based missing persons database “FindMeBahamas” to identify thousands of displaced people.

South America

The majority of facial recognition technology in South America is aimed at cracking down on crime. In fact, it worked in Brazil to capture Interpol’s second-most wanted criminal.

Facial Recognition South America Map

Home to over 209 million, Brazil soon plans to create a biometric database of its citizens. However, some are nervous that this could also serve as a means to prevent dissent against the current political order.

Europe

Belgium and Luxembourg are two of only three governments in the world to officially oppose the use of facial recognition technology.

Facial Recognition Europe Map

Further, 80% of Europeans are not keen on sharing facial data with authorities. Despite such negative sentiment, it’s still in use across 26 European countries to date.

The EU has been a haven for unlawful biometric experimentation and surveillance.

—European Digital Rights (EDRi)

In Russia, authorities have relied on facial recognition technology to check for breaches of quarantine rules by potential COVID-19 carriers. In Moscow alone, there are reportedly over 100,000 facial recognition enabled cameras in operation.

Middle East and Central Asia

Facial recognition technology is widespread in this region, notably for military purposes.

Facial Recognition Middle East and Central Asia Map

In Turkey, 30 domestically-developed kamikaze drones will use AI and facial recognition for border security. Similarly, Israel has a close eye on Palestinian citizens across 27 West Bank checkpoints.

In other parts of the region, police in the UAE have purchased discreet smart glasses that can be used to scan crowds, where positive matches show up on an embedded lens display. Over in Kazakhstan, facial recognition technology could replace public transportation passes entirely.

East Asia and Oceania

In the COVID-19 battle, contact tracing through biometric identification became a common tool to slow the infection rates in countries such as China, South Korea, Taiwan, and Singapore. In some instances, this included the use of facial recognition technology to monitor temperatures as well as spot those without a mask.

Facial Recognition East Asia Oceania Map

That said, questions remain about whether the pandemic panopticon will stop there.

China is often cited as a notorious use case of mass surveillance, and the country has the highest ratio of CCTV cameras to citizens in the world—one for every 12 people. By 2023, China will be the single biggest player in the global facial recognition market. And it’s not just implementing the technology at home–it’s exporting too.

Africa

While the African continent currently has the lowest concentration of facial recognition technology in use, this deficit may not last for long.

Facial Recognition World Map

Several African countries, such as Kenya and Uganda, have received telecommunications and surveillance financing and infrastructure from Chinese companies—Huawei in particular. While the company claims this has enabled regional crime rates to plummet, some activists are wary of the partnership.

Whether you approach facial recognition technology from public and national security lens or from an individual liberty perspective, it’s clear that this kind of surveillance is here to stay.

Subscribe to Visual Capitalist

Thank you!
Given email address is already subscribed, thank you!
Please provide a valid email address.
Please complete the CAPTCHA.
Oops. Something went wrong. Please try again later.

Continue Reading

History

Incredible Map of Pangea With Modern-Day Borders

Many millions of years ago, the world was one. This nifty map shows this Pangea supercontinent overlaid with modern country borders.

Published

on

Incredible Map of Pangea With Modern-Day Borders

As volcanic eruptions and earthquakes occasionally remind us, the earth beneath our feet is constantly on the move.

Continental plates only move around 1-4 inches per year, so we don’t notice the tectonic forces that are continually reshaping the surface of our planet. But on a long enough timeline, those inches add up to big changes in the way landmasses on Earth are configured.

Today’s map, by Massimo Pietrobon, is a look back to when all land on the planet was arranged into a supercontinent called Pangea. Pietrobon’s map is unique in that it overlays the approximate borders of present day countries to help us understand how Pangea broke apart to form the world that we know today.

Pangea: The World As One

Pangea was the latest in a line of supercontinents in Earth’s history.

Pangea began developing over 300 million years ago, eventually making up one-third of the earth’s surface. The remainder of the planet was an enormous ocean known as Panthalassa.

As time goes by, scientists are beginning to piece together more information on the climate and patterns of life on the supercontinent. Similar to parts of Central Asia today, the center of the landmass is thought to have been arid and inhospitable, with temperatures reaching 113ºF (45ºC). The extreme temperatures revealed by climate simulations are supported by the fact that very few fossils are found in the modern day regions that once existed in the middle of Pangea. The strong contrast between the Pangea supercontinent and Panthalassa is believed to have triggered intense cross-equatorial monsoons.

By this unique point in history, plants and animals had spread across the landmass, and animals (such as dinosaurs) were able to wander freely across the entire expanse of Pangea.

Breaking Up is Hard to Do

Around 200 million years ago, magma began to swell up through a weakness in the earth’s crust, creating the volcanic rift zone that would eventually cleave the supercontinent into pieces. Over time, this rift zone would become the Atlantic Ocean. The most visible evidence of this split is in the similar shape of the coastlines of modern-day Brazil and West Africa.

Present-day North America broke away from Europe and Africa, and as the map highlights, Atlantic Canada was once connected to Spain and Morocco.

The concept of plate tectonics is behind some of modern Earth’s most striking features. The Himalayas, for example, were formed after the Indian subcontinent broke off the eastern side of Africa and crashed directly into Asia. Many of the world’s tallest mountains were formed by this process of plate convergence – a process that, as far as we know, is unique to Earth.

What the Very Distant Future Holds

Since the average continent is only moving about 1 foot (0.3m) every decade, it’s unlikely you’ll ever be alive to see an epic geographical revision to the world map.

However, for whatever life exists on Earth roughly 300 million years in the future, they may have front row seats in seeing the emergence of a new supercontinent: Pangea Proxima.

As the above video from the Paleomap Project shows, Pangea Proxima is just one possible supercontinent configuration that occurs in which Australia slams into Indonesia, and North and South America crash into Africa and Antarctica, respectively.

Interestingly, Pangea Proxima could have a massive inland sea, mainly made up of what is the Indian Ocean today. Meanwhile, the other oceans would combine into one superocean that would take up the majority of the Earth’s surface.

Subscribe to Visual Capitalist

Thank you!
Given email address is already subscribed, thank you!
Please provide a valid email address.
Please complete the CAPTCHA.
Oops. Something went wrong. Please try again later.

Continue Reading
Novagold Company Spotlight

Subscribe

Join the 180,000+ subscribers who receive our daily email

Thank you!
Given email address is already subscribed, thank you!
Please provide a valid email address.
Please complete the CAPTCHA.
Oops. Something went wrong. Please try again later.

Popular