Mapped: Corruption in Countries Around the World
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Mapped: Corruption in Countries Around the World

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Mapped: Corruption in Countries Around the World

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Mapped: Corruption in Countries Around the World

How bad is public sector corruption around the world, and how do different countries compare?

No matter your system of government, the public sector plays a vital role in establishing your economic mobility and political freedoms. Measuring corruption—the abuse of power for private gain—reveals how equal a system truly is.

For more than a decade, the Corruption Perceptions Index (CPI) by Transparency International has been the world’s most widely-used metric for scoring corruption. This infographic uses the 2021 CPI to visualize corruption in countries around the world, and the biggest 10-year changes.

Which Countries are Most (and Least) Corrupt?

How do you measure corruption, which includes behind-the-scenes deals, nepotism, corrupt prosecution, and bribery?

Over the last few decades, the CPI has found success doing so indirectly through perceptions.
By aggregating multiple analyses from country and business experts, the index assigns each country a score on a scale of 0 to 100, where 0 is highly corrupt and 100 is very clean.

Here are the results of the 2021 CPI, with the least corrupt countries at the top:

Corruption Perception by CountryScore (2021)
Denmark88
Finland88
New Zealand88
Norway85
Singapore85
Sweden85
Switzerland84
Netherlands82
Luxembourg81
Germany80
UK78
Hong Kong76
Austria74
Canada74
Estonia74
Iceland74
Ireland74
Australia73
Belgium73
Japan73
Uruguay73
France71
Seychelles70
UAE69
Bhutan68
Taiwan68
Chile67
U.S.67
Barbados65
Bahamas64
Qatar63
Portugal62
South Korea62
Lithuania61
Spain61
Israel59
Latvia59
Saint Vincent and the Grenadines59
Cabo Verde58
Costa Rica58
Slovenia57
Italy56
Poland56
Saint Lucia56
Botswana55
Dominica55
Fiji55
Georgia55
Czechia54
Malta54
Mauritius54
Cyprus53
Grenada53
Rwanda53
Saudi Arabia53
Oman52
Slovakia52
Armenia49
Greece49
Jordan49
Namibia49
Malaysia48
Croatia47
Cuba46
Montenegro46
China45
Romania45
Sao Tome and Principe45
Vanuatu45
Jamaica44
South Africa44
Tunisia44
Ghana43
Hungary43
Kuwait43
Senegal43
Solomon Islands43
Bahrain42
Benin42
Bulgaria42
Burkina Faso42
Belarus41
Timor-Leste41
Trinidad and Tobago41
India40
Maldives40
Colombia39
Ethiopia39
Guyana39
Kosovo39
Morocco39
North Macedonia39
Suriname39
Tanzania39
Vietnam39
Argentina38
Brazil38
Indonesia38
Lesotho38
Serbia38
Turkey38
Gambia37
Kazakhstan37
Sri Lanka37
Cote d'Ivoire36
Ecuador36
Moldova36
Panama36
Peru36
Albania35
Bosnia and Herzegovina35
Malawi35
Mongolia35
Thailand35
El Salvador34
Sierra Leone34
Algeria33
Egypt33
Nepal33
Philippines33
Zambia33
Eswatini32
Ukraine32
Gabon31
Mexico31
Niger31
Papua New Guinea31
Azerbaijan30
Bolivia30
Djibouti30
Dominican Republic30
Kenya30
Laos30
Paraguay30
Togo30
Angola29
Liberia29
Mali29
Russia29
Mauritania28
Myanmar28
Pakistan28
Uzbekistan28
Cameroon27
Kyrgyzstan27
Uganda27
Bangladesh26
Madagascar26
Mozambique26
Guatemala25
Guinea25
Iran25
Tajikistan25
Central African Republic24
Lebanon24
Nigeria24
Cambodia23
Honduras23
Iraq23
Zimbabwe23
Eritrea22
Congo21
Guinea-Bissau21
Chad20
Comoros20
Haiti20
Nicaragua20
Sudan20
Burundi19
Democratic Republic of the Congo19
Turkmenistan19
Equatorial Guinea17
Libya17
Afghanistan16
North Korea16
Yemen16
Venezuela14
Somalia13
Syria13
South Sudan11

Ranking at the top of the index with scores of 88 are Nordic countries Denmark and Finland, as well as New Zealand.

They’ve consistently topped the CPI over the last decade, and Europe in general had 14 of the top 20 least corrupt countries. Asia also had many notable entrants, including Singapore (tied for #4), Hong Kong (#12), and Japan (tied for #18).

Comparatively, the Americas only had two countries score in the top 20 least corrupt: Canada (tied for #13) and Uruguay (tied for #18). With a score of 67, the U.S. scored at #28 just behind Bhutan, the UAE, and France.

Scoring towards the bottom of the index were many countries currently and historically going through conflict, primarily located in the Middle East and Africa. They include Afghanistan, Venezuela, Somalia, and South Sudan. The latter country finishes at the very bottom of the list, with a score of just 11.

How Corruption in Countries Has Changed (2012–2021)

Corruption is a constant and moving global problem, so it’s also important to measure which countries have had their images improved (or worsened).

By using CPI scores dating back to 2012, we can examine how country scores have changed over the last decade:

Change in Corruption by Country10-Year Trend (2012-2021)
Seychelles+18
Armenia+15
Italy+14
Greece+13
Myanmar+13
Guyana+11
Uzbekistan+11
Estonia+10
Latvia+10
Belarus+10
Saudi Arabia+9
Kazakhstan+9
Laos+9
Timor-Leste+8
Vietnam+8
Afghanistan+8
North Korea+8
Taiwan+7
Lithuania+7
Senegal+7
Cote d'Ivoire+7
Angola+7
Sudan+7
South Korea+6
Slovakia+6
China+6
Jamaica+6
Benin+6
Ethiopia+6
Indonesia+6
Nepal+6
Ukraine+6
Papua New Guinea+6
Austria+5
Ireland+5
Bhutan+5
Czechia+5
Oman+5
Montenegro+5
Kosovo+5
Paraguay+5
Iraq+5
Somalia+5
United Kingdom+4
Costa Rica+4
Burkina Faso+4
India+4
Tanzania+4
Ecuador+4
Georgia+3
Sao Tome and Principe+3
Tunisia+3
Colombia+3
Argentina+3
Gambia+3
Sierra Leone+3
Azerbaijan+3
Kenya+3
Kyrgyzstan+3
Tajikistan+3
Zimbabwe+3
Trinidad and Tobago+2
Morocco+2
Suriname+2
Albania+2
Turkmenistan+2
Luxembourg+1
Germany+1
Uruguay+1
United Arab Emirates+1
Jordan+1
Namibia+1
Croatia+1
Romania+1
South Africa+1
Bulgaria+1
Egypt+1
Russia+1
Pakistan+1
Cameroon+1
Guinea+1
Cambodia+1
Haiti+1
Chad+1
Norway0
France0
Rwanda0
Moldova0
Togo0
Bangladesh0
Burundi0
Hong Kong-1
Japan-1
Portugal-1
Israel-1
Malaysia-1
Kuwait-1
Serbia-1
Mongolia-1
Algeria-1
Philippines-1
Denmark-2
Finland-2
New Zealand-2
Singapore-2
Switzerland-2
Netherlands-2
Belgium-2
Cabo Verde-2
Poland-2
Cuba-2
Ghana-2
Panama-2
Peru-2
Malawi-2
Thailand-2
Niger-2
Dominican Republic-2
Uganda-2
Central African Republic-2
Democratic Republic of the Congo-2
Sweden-3
Saint Vincent and the Grenadines-3
Dominica-3
Malta-3
Mauritius-3
Sri Lanka-3
Mexico-3
Mauritania-3
Iran-3
Nigeria-3
Eritrea-3
Equatorial Guinea-3
Spain-4
Slovenia-4
North Macedonia-4
El Salvador-4
Zambia-4
Gabon-4
Bolivia-4
Guinea-Bissau-4
Libya-4
Chile-5
Qatar-5
Brazil-5
Eswatini-5
Mali-5
Mozambique-5
Honduras-5
Congo-5
Venezuela-5
United States of America-6
Djibouti-6
Madagascar-6
Lebanon-6
Bahamas-7
Lesotho-7
Bosnia and Herzegovina-7
Yemen-7
Iceland-8
Guatemala-8
Comoros-8
Bahrain-9
Nicaragua-9
Canada-10
Botswana-10
Barbados-11
Turkey-11
Australia-12
Hungary-12
Liberia-12
Cyprus-13
Syria-13
Saint Lucia-15
FijiN/A
GrenadaN/A
VanuatuN/A
Solomon IslandsN/A
MaldivesN/A
South SudanN/A

The biggest climber with +18 was Seychelles, Africa’s smallest country and also its least corrupt with a score of 70. Other notable improvements include neighboring countries Estonia, Latvia, and Belarus, with Estonia rising into the top 15 least corrupt countries.

On the opposite side, both Australia (-12) and Canada (-10) have actually fallen out of the top 10 least corrupt countries over the last decade. They’re joined by decreases in Hungary (-12) and Syria (-13), which is now ranked as the world’s second-most corrupt country.

Which countries will rise and fall in corruption perceptions over the next 10 years, and how do your perceptions compare with this list?

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Technology

Thematic Investing: 3 Key Trends in Cybersecurity

Cyberattacks are becoming more frequent and sophisticated. Here’s what investors need to know about the future of cybersecurity.

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Global X Cybersecurity ETF

The following content is sponsored by Global X ETFs
Global X Cybersecurity ETF

Thematic Investing: 3 Key Trends in Cybersecurity

In 2020, the global cost of cybercrime was estimated to be around $945 billion, according to McAfee.

It’s likely even higher today, as multiple sources have recorded an increase in the frequency and sophistication of cyberattacks during the pandemic.

In this infographic from Global X ETFs, we highlight three major trends that are shaping the future of the cybersecurity industry that investors need to know.

Trend 1: Increasing Costs

Research from IBM determined that the average data breach cost businesses $4.2 million in 2021, up from $3.6 million in 2017. The following table breaks this figure into four components:

Cost ComponentValue ($)
Cost of lost business$1.6M
Detection and escalation$1.2M
Post breach response$1.1M
Notification$0.3M
Total$4.2M

The greatest cost of a data breach is lost business, which results from system downtimes, reputational losses, and lost customers. Second is detection and escalation, including investigative activities, audit services, and communications to stakeholders.

Post breach response includes costs such as legal expenditures, issuing new accounts or credit cards (in the case of financial institutions), and other monitoring services. Lastly, notification refers to the cost of notifying regulators, stakeholders, and other third parties.

To stay ahead of these rising costs, businesses are placing more emphasis on cybersecurity. For example, Microsoft announced in September 2021 that it would quadruple its cybersecurity investments to $20 billion over the next five years.

Trend 2: Remote Work Opens New Vulnerabilities

According to IBM, companies that rely more on remote work experience greater losses from data breaches. For companies where 81 to 100% of employees were remote, the average cost of a data breach was $5.5 million (2021). This dropped to $3.7 million for companies that had under 10% of employees working from home.

A major reason for this gap is that work-from-home setups are typically less secure. Phishing attacks surged in 2021, taking advantage of the fact that many employees access corporate systems through their personal devices.

Type of AttackNumber of attacks in 2020Number of attacks in 2021Growth (%)
Spam phishing1.5M10.1M+573%
Credential phishing5.5M6.2M+13%

As detected by Trend Micro’s Cloud App Security.

Spam phishing refers to “fake” emails that trick users by impersonating company management. They can include malicious links that download ransomware onto the users device. Credential phishing is similar in concept, though the goal is to steal a person’s account credentials.

A tactic you may have seen before is the Amazon scam, where senders impersonate Amazon and convince users to update their payment methods. This strategy could also be used to gain access to a company’s internal systems.

Trend 3: AI Can Reduce the Cost of a Data Breach

AI-based cybersecurity can detect and respond to cyberattacks without any human intervention. When fully deployed, IBM measured a 20% reduction in the time it takes to identify and contain a breach. It also resulted in cost savings upwards of 60%.

A prominent user of AI-based cybersecurity is Google, which uses machine learning to detect phishing attacks within Gmail.

Machine learning helps Gmail block spam and phishing messages from showing up in your inbox with over 99.9% accuracy. This is huge, given that 50-70% of messages that Gmail receives are spam.
– Andy Wen, Google

As cybercrime escalates, Acumen Research and Consulting believes the market for AI-based security solutions will reach $134 billion by 2030, up from $15 billion in 2021.

Introducing the Global X Cybersecurity ETF

The Global X Cybersecurity ETF (Ticker: BUG) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Indxx Cybersecurity Index. See below for industry and country-level breakdowns, as of June 2022.

Sector (By security type)Weight
Cloud28.0%
Network25.1%
Identity17.7%
Internet15.0%
Endpoint12.8%
CountryWeight
🇺🇸 U.S.71.6%
🇮🇱 Israel13.2%
🇬🇧 UK8.2%
🇯🇵 Japan5.5%
🇰🇷 South Korea0.9%
🇨🇦 Canada0.6%

Totals may not equal 100% due to rounding.

Investors can use this passively managed solution to gain exposure to the rising adoption of cybersecurity technologies.

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Visualizing Major Layoffs At U.S. Corporations

This infographic highlights the accelerating pace of layoffs so far in 2022, as businesses cut costs ahead of a potential recession.

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Visualizing Major Layoffs at U.S. Corporations

Hiring freezes and layoffs are becoming more common in 2022, as U.S. businesses look to slash costs ahead of a possible recession.

Understandably, this has a lot of people worried. In June 2022, Insight Global found that 78% of American workers fear they will lose their job in the next recession. Additionally, 56% said they aren’t financially prepared, and 54% said they would take a pay cut to avoid being laid off.

In this infographic, we’ve visualized major layoffs announced in 2022 by publicly-traded U.S. corporations.

Note: Due to gaps in reporting, as well as the very large number of U.S. corporations, this list may not be comprehensive.

An Emerging Trend

Layoffs have surged considerably since April of this year. See the table below for high-profile instances of mass layoffs.

CompanyIndustryLayoffs (#)Month
PelotonConsumer Discretionary2,800February
FunkoConsumer Discretionary258April
RobinhoodFinancial Services~400April
Nektar TherapeuticsBiotechnology500April
CarvanaAutomotive2,500May
DomaFinancial Services310May
JP Morgan Chase & Co.Financial Services~500June
TeslaAutomotive200June
CoinbaseFinancial Services1,100June
NetflixTechnology300June
CVS HealthPharmaceutical208June
StartTekTechnology472June
FordAutomotive8,000July
RivianAutomotive840July
PelotonConsumer Discretionary2,000July
LoanDepotFinancial Services2,000July
InvitaeBiotechnology1,000July
LyftTechnology60July
MetaTechnology350July
TwitterTechnology<30July
VimeoTechnology72July
RobinhoodFinancial Services~795August

Here’s a brief rundown of these layoffs, sorted by industry.

Automotive

Ford has announced the biggest round of layoffs this year, totalling roughly 8,000 salaried employees. Many of these jobs are in Ford’s legacy combustion engine business. According to CEO Jim Farley, these cuts are necessary to fund the company’s transition to EVs.

We absolutely have too many people in some places, no doubt about it.
– Jim Farley, CEO, Ford

Speaking of EVs, Rivian laid off 840 employees in July, amounting to 6% of its total workforce. The EV startup pointed to inflation, rising interest rates, and increasing commodity prices as factors. The firm’s more established competitor, Tesla, cut 200 jobs from its autopilot division in the month prior.

Last but not least is online used car retailer, Carvana, which cut 2,500 jobs in May. The company experienced rapid growth during the pandemic, but has since fallen out of grace. Year-to-date, the company’s shares are down more than 80%.

Financial Services

Fearing an impending recession, Coinbase has shed 1,100 employees, or 18% of its total workforce. Interestingly, Coinbase does not have a physical headquarters, meaning the entire company operates remotely.

A recession could lead to another crypto winter, and could last for an extended period. In past crypto winters, trading revenue declined significantly.
Brian Armstrong, CEO, Coinbase

Around the same time, JPMorgan Chase & Co. announced it would fire hundreds of home-lending employees. While an exact number isn’t available, we’ve estimated this to be around 500 jobs, based on the original Bloomberg article. Wells Fargo, another major U.S. bank, has also cut 197 jobs from its home mortgage division.

The primary reason for these cuts is rising mortgage rates, which are negatively impacting the demand for homes.

Technology

Within tech, Meta and Twitter are two of the most high profile companies to begin making layoffs. In Meta’s case, 350 custodial staff have been let go due to reduced usage of the company’s offices.

Many more cuts are expected, however, as Facebook recently reported its first revenue decline in 10 years. CEO Mark Zuckerberg has made it clear he expects the company to do more with fewer resources, and managers have been encouraged to report “low performers” for “failing the company”.

Realistically, there are probably a bunch of people at the company who shouldn’t be here.
– Mark Zuckerberg, CEO, Meta

Also in July, Twitter laid off 30% of its talent acquisition team. An exact number was not available, but the team was estimated to have less than 100 employees. The company has also enacted a hiring freeze as it stumbles through a botched acquisition by Elon Musk.

More Layoffs to Come…

Layoffs are expected to continue throughout the rest of this year, as metrics like consumer sentiment enter a decline. Rising interest rates, which make it more expensive for businesses to borrow money, are also having a negative impact on growth.

In fact just a few days ago, trading platform Robinhood announced it was letting go 23% of its staff. After accounting for its previous layoffs in April (9% of the workforce), it’s fair to estimate that this latest round will impact nearly 800 people.

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