Ranked: The Richest Countries in the World
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Ranked: The Richest Countries in the World

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Ranked: The Richest Countries in the World

Ranked: The Richest Countries in the World

Since the 2008 financial crisis, global private wealth has been steadily growing.

In fact, overall private wealth worldwide reached $204 trillion in 2018, which is a 26% increase over the past decade.

This week’s chart, which uses numbers from the Global Wealth Migration Review 2019, examines the top 10 richest countries and the growth of private wealth from 2008 to 2018.

RankCountryPrivate Wealth in $USD (2018)10-yr change (%)
#1๐Ÿ‡บ๐Ÿ‡ธ United States$60.7 trillion27%
#2๐Ÿ‡จ๐Ÿ‡ณ China$23.6 trillion130%
#3๐Ÿ‡ฏ๐Ÿ‡ต Japan$19.1 trillion18%
#4๐Ÿ‡ฌ๐Ÿ‡ง United Kingdom$9.1 trillion4%
#5๐Ÿ‡ฉ๐Ÿ‡ช Germany$8.8 trillion7%
#6๐Ÿ‡ฎ๐Ÿ‡ณ India$8.1 trillion96%
#7๐Ÿ‡ฆ๐Ÿ‡บ Australia$6.0 trillion48%
#8๐Ÿ‡จ๐Ÿ‡ฆ Canada$6.0 trillion23%
#9๐Ÿ‡ซ๐Ÿ‡ท France$5.9 trillion-7%
#10๐Ÿ‡ฎ๐Ÿ‡น Italy$3.8 trillion-14%

Combined, the 10 countries above represent 74% of total private wealth worldwide.

These trends are staying consistent with the numbers seen in 2017. Asian countries such as China and India showed the highest uptick in wealth gains, holding their #2 and #3 spots on the list, while European countries such as France and Italy actually saw a decrease.

Trends in the Wealth Landscape

Over the last 10 years, China has experienced the largest increase in wealth at 130%. This growth also means that China now boasts more high-net-worth individuals (HNWIs) than any other country except the United States.

While India doubled its total private wealth over the 10-year period, wealth per adult remains at just 22% of the global average.

The U.S. continues to lead in wealth numbers, holding 30% ($60.7 trillion) of the world’s total private wealth. Unsurprisingly, the U.S. remains home to the most millionaires in the world.

The World’s Millionaires: Top 3 Countries

  • United States: 17,350,000
  • China: 3,480,000
  • Japan: 2,809,000
  • World total: 42,155,000

Source: Credit Suisse

Australia now tops the above list in terms of highest wealth per adult, and it is second in the world only to Switzerland in the context of major nations.

Despite the recent turmoil and uncertainty stemming from Brexit, the United Kingdom still saw overall growth in the past decade, moving from #5 to #4 rank on the list of countries with the highest private wealth.

Projections from New World Wealth estimate that total global wealth will reach $291 trillion by 2028, driven by strong growth in Asia.

Rising Wealth Inequality

Unfortunately, this growth is also linked to the growing problem of wealth inequality gap across the globe, and the gap seems to get bigger every year.

The average global wealth per adult is approximately $27,000 – but of the total adult population, 64% have a net worth of less than $10,000. The bottom half of adults in the world now own less than 1% of all household wealth.

By contrast, 85% of all household wealth is owned by the richest 10%, and the top 1% own almost half (47%) of the worldโ€™s household wealth.

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Mapped: The 3 Billion People Who Can’t Afford a Healthy Diet

More than three billion people across the globe are unable to afford a healthy diet. See which countries are most affected.

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The 3 Billion People Who Canโ€™t Afford a Healthy Diet

While they arenโ€™t often the focus of news media, hunger and undernourishment are problems plaguing millions of people every day.

According to the UN Food and Agriculture Organization (FAO), more than 3 billion people could not afford a healthy diet in 2020, an additional 112 million more people than in 2019. The increase was partly because of rising food prices, with the average cost of a healthy diet rising by 3.3% from 2019 levels.

As of August 2022, the FAO food price index was up 40.6% from average 2020 levels. Unless income levels increased by a similar magnitude, the healthy diet crisis is likely to have worsened, especially in low-income countries experiencing rampant food inflation.

Using data from the FAO, the above infographic maps the share of people unable to afford a healthy diet in 138 different countries as of 2020 (latest available data).

The Cost and Affordability of a Healthy Diet

According to the FAO, a healthy diet is one that meets daily energy needs as well as requirements within the food and dietary guidelines created by the country.

The (un)affordability is measured by comparing the cost of a healthy diet to income levels in the country. If the cost exceeds 52% of an average householdโ€™s income, the diet is deemed unaffordable.

Hereโ€™s a look at the share of populations unable to afford a healthy diet, and the cost of such a diet around the world:

CountryPercent of population unable to afford a healthy dietCost of Healthy Diet (USD per Person per Day)
Burundi ๐Ÿ‡ง๐Ÿ‡ฎ97.2%$2.9
Madagascar ๐Ÿ‡ฒ๐Ÿ‡ฌ97.0%$3.2
Liberia ๐Ÿ‡ฑ๐Ÿ‡ท96.8%$3.9
Malawi ๐Ÿ‡ฒ๐Ÿ‡ผ96.6%$3.1
Nigeria ๐Ÿ‡ณ๐Ÿ‡ฌ95.9%$4.1
Central African Republic ๐Ÿ‡จ๐Ÿ‡ซ95.1%$3.6
Guinea ๐Ÿ‡ฌ๐Ÿ‡ณ94.9%$4.1
Angola ๐Ÿ‡ฆ๐Ÿ‡ด94.3%$4.5
Congo ๐Ÿ‡จ๐Ÿ‡ฌ92.4%$3.4
Sudan ๐Ÿ‡ธ๐Ÿ‡ฉ91.8%$4.3
Mozambique ๐Ÿ‡ฒ๐Ÿ‡ฟ91.5%$3.2
Democratic Republic of Congo ๐Ÿ‡จ๐Ÿ‡ฉ90.0%$2.1
Sierra Leone ๐Ÿ‡ธ๐Ÿ‡ฑ89.2%$2.9
Niger ๐Ÿ‡ณ๐Ÿ‡ช88.8%$2.9
Zambia ๐Ÿ‡ฟ๐Ÿ‡ฒ88.0%$3.3
Tanzania ๐Ÿ‡น๐Ÿ‡ฟ87.6%$2.7
Guinea-Bissau ๐Ÿ‡ฌ๐Ÿ‡ผ87.2%$3.5
Ethiopia ๐Ÿ‡ช๐Ÿ‡น86.8%$3.4
Rwanda ๐Ÿ‡ท๐Ÿ‡ผ86.3%$2.7
Haiti ๐Ÿ‡ญ๐Ÿ‡น85.9%$4.5
Sao Tome and Principe ๐Ÿ‡ธ๐Ÿ‡น84.7%$3.6
Nepal ๐Ÿ‡ณ๐Ÿ‡ต84.0%$4.4
Lesotho ๐Ÿ‡ฑ๐Ÿ‡ธ83.5%$4.3
Pakistan ๐Ÿ‡ต๐Ÿ‡ฐ83.5%$3.7
Chad ๐Ÿ‡น๐Ÿ‡ฉ83.4%$2.8
Benin ๐Ÿ‡ง๐Ÿ‡ฏ82.9%$3.7
Uganda ๐Ÿ‡บ๐Ÿ‡ฌ82.2%$2.7
Kenya ๐Ÿ‡ฐ๐Ÿ‡ช81.1%$3.0
Burkina Faso ๐Ÿ‡ง๐Ÿ‡ซ80.1%$3.3
Laos ๐Ÿ‡ฑ๐Ÿ‡ฆ79.8%$4.1
Mali ๐Ÿ‡ฒ๐Ÿ‡ฑ74.3%$3.1
Bangladesh ๐Ÿ‡ง๐Ÿ‡ฉ73.5%$3.1
Egypt ๐Ÿ‡ช๐Ÿ‡ฌ72.9%$3.4
Eswatini ๐Ÿ‡ธ๐Ÿ‡ฟ71.8%$3.4
India ๐Ÿ‡ฎ๐Ÿ‡ณ70.5%$3.0
Indonesia ๐Ÿ‡ฎ๐Ÿ‡ฉ69.1%$4.5
Philippines ๐Ÿ‡ต๐Ÿ‡ญ68.6%$4.1
Jamaica ๐Ÿ‡ฏ๐Ÿ‡ฒ66.2%$6.7
South Africa ๐Ÿ‡ฟ๐Ÿ‡ฆ65.2%$4.3
Myanmar ๐Ÿ‡ฒ๐Ÿ‡ฒ65.1%$4.2
Gambia ๐Ÿ‡ฌ๐Ÿ‡ฒ64.0%$3.1
Djibouti ๐Ÿ‡ฉ๐Ÿ‡ฏ63.9%$3.1
Botswana ๐Ÿ‡ง๐Ÿ‡ผ61.4%$3.7
Ghana ๐Ÿ‡ฌ๐Ÿ‡ญ61.2%$4.0
Cameroon ๐Ÿ‡จ๐Ÿ‡ฒ60.7%$2.8
Mauritania ๐Ÿ‡ฒ๐Ÿ‡ท60.7%$3.7
Fiji ๐Ÿ‡ซ๐Ÿ‡ฏ60.4%$3.9
Suriname ๐Ÿ‡ธ๐Ÿ‡ท58.8%$5.7
Namibia ๐Ÿ‡ณ๐Ÿ‡ฆ56.8%$3.5
Bhutan ๐Ÿ‡ง๐Ÿ‡น53.0%$5.0
Mongolia ๐Ÿ‡ฒ๐Ÿ‡ณ51.4%$5.1
Honduras ๐Ÿ‡ญ๐Ÿ‡ณ51.3%$3.5
Iraq ๐Ÿ‡ฎ๐Ÿ‡ถ49.6%$3.5
Kyrgyzstan ๐Ÿ‡ฐ๐Ÿ‡ฌ49.6%$3.2
Sri Lanka ๐Ÿ‡ฑ๐Ÿ‡ฐ49.0%$3.9
Senegal ๐Ÿ‡ธ๐Ÿ‡ณ46.0%$2.3
Guyana ๐Ÿ‡ฌ๐Ÿ‡พ43.0%$4.9
Armenia ๐Ÿ‡ฆ๐Ÿ‡ฒ42.9%$3.2
Tajikistan ๐Ÿ‡น๐Ÿ‡ฏ42.1%$3.5
Cabo Verde ๐Ÿ‡จ๐Ÿ‡ป38.1%$3.6
Belize ๐Ÿ‡ง๐Ÿ‡ฟ36.4%$2.1
Gabon ๐Ÿ‡ฌ๐Ÿ‡ฆ36.3%$3.6
Nicaragua ๐Ÿ‡ณ๐Ÿ‡ฎ35.7%$3.3
Algeria ๐Ÿ‡ฉ๐Ÿ‡ฟ30.2%$3.8
Vietnam ๐Ÿ‡ป๐Ÿ‡ณ30.0%$4.1
Colombia ๐Ÿ‡จ๐Ÿ‡ด26.5%$3.1
Mexico ๐Ÿ‡ฒ๐Ÿ‡ฝ26.3%$3.3
Bolivia ๐Ÿ‡ง๐Ÿ‡ด24.7%$3.8
Palestine ๐Ÿ‡ต๐Ÿ‡ธ23.1%$3.4
Ecuador ๐Ÿ‡ช๐Ÿ‡จ21.4%$2.9
Saint Lucia ๐Ÿ‡ฑ๐Ÿ‡จ20.6%$3.6
Peru ๐Ÿ‡ต๐Ÿ‡ช20.5%$3.3
Iran ๐Ÿ‡ฎ๐Ÿ‡ท20.3%$3.6
Tunisia ๐Ÿ‡น๐Ÿ‡ณ20.3%$3.6
Albania ๐Ÿ‡ฆ๐Ÿ‡ฑ20.1%$4.2
Brazil ๐Ÿ‡ง๐Ÿ‡ท19.0%$3.1
Dominican Republic ๐Ÿ‡ฉ๐Ÿ‡ด18.3%$3.9
Panama ๐Ÿ‡ต๐Ÿ‡ฆ18.2%$4.5
North Macedonia ๐Ÿ‡ฒ๐Ÿ‡ฐ18.0%$3.4
Paraguay ๐Ÿ‡ต๐Ÿ‡พ17.8%$3.5
Montenegro ๐Ÿ‡ฒ๐Ÿ‡ช17.5%$3.5
Thailand ๐Ÿ‡น๐Ÿ‡ญ17.0%$4.3
Costa Rica ๐Ÿ‡จ๐Ÿ‡ท16.8%$4.1
Morocco ๐Ÿ‡ฒ๐Ÿ‡ฆ16.7%$2.8
Serbia ๐Ÿ‡ท๐Ÿ‡ธ16.3%$4.2
Jordan ๐Ÿ‡ฏ๐Ÿ‡ด14.9%$3.6
Mauritius ๐Ÿ‡ฒ๐Ÿ‡บ13.5%$3.6
China ๐Ÿ‡จ๐Ÿ‡ณ12.0%$3.0
Trinidad and Tobago ๐Ÿ‡น๐Ÿ‡น11.6%$4.2
Romania ๐Ÿ‡ท๐Ÿ‡ด8.8%$3.2
Bulgaria ๐Ÿ‡ง๐Ÿ‡ฌ8.5%$4.1
Seychelles ๐Ÿ‡ธ๐Ÿ‡จ6.8%$3.8
Moldova ๐Ÿ‡ฒ๐Ÿ‡ฉ6.7%$2.8
Chile ๐Ÿ‡จ๐Ÿ‡ฑ3.8%$3.4
Croatia ๐Ÿ‡ญ๐Ÿ‡ท3.8%$4.3
Bosnia and Herzegovina ๐Ÿ‡ง๐Ÿ‡ฆ3.7%$4.0
Uruguay ๐Ÿ‡บ๐Ÿ‡พ3.6%$3.4
Russia ๐Ÿ‡ท๐Ÿ‡บ3.5%$3.4
Greece ๐Ÿ‡ฌ๐Ÿ‡ท3.2%$3.1
Italy ๐Ÿ‡ฎ๐Ÿ‡น2.9%$3.1
Japan ๐Ÿ‡ฏ๐Ÿ‡ต2.5%$5.8
Hungary ๐Ÿ‡ญ๐Ÿ‡บ2.0%$3.5
Spain ๐Ÿ‡ช๐Ÿ‡ธ2.0%$2.8
Malaysia ๐Ÿ‡ฒ๐Ÿ‡พ1.9%$3.5
Latvia ๐Ÿ‡ฑ๐Ÿ‡ป1.8%$3.2
South Korea ๐Ÿ‡ฐ๐Ÿ‡ท1.7%$5.2
United States ๐Ÿ‡บ๐Ÿ‡ธ1.5%$3.4
Maldives ๐Ÿ‡ฒ๐Ÿ‡ป1.4%$3.9
Estonia ๐Ÿ‡ช๐Ÿ‡ช1.3%$3.3
Kazakhstan ๐Ÿ‡ฐ๐Ÿ‡ฟ1.2%$2.7
Lithuania ๐Ÿ‡ฑ๐Ÿ‡น1.2%$3.1
Slovakia ๐Ÿ‡ธ๐Ÿ‡ฐ1.2%$3.2
Israel ๐Ÿ‡ฎ๐Ÿ‡ฑ1.0%$2.5
Poland ๐Ÿ‡ต๐Ÿ‡ฑ1.0%$3.2
Austria ๐Ÿ‡ฆ๐Ÿ‡น0.8%$3.0
Australia ๐Ÿ‡ฆ๐Ÿ‡บ0.7%$2.6
Canada ๐Ÿ‡จ๐Ÿ‡ฆ0.7%$3.0
Malta ๐Ÿ‡ฒ๐Ÿ‡น0.7%$3.8
Sweden ๐Ÿ‡ธ๐Ÿ‡ช0.6%$3.3
Portugal ๐Ÿ‡ต๐Ÿ‡น0.5%$2.7
United Kingdom ๐Ÿ‡ฌ๐Ÿ‡ง0.5%$1.9
Denmark ๐Ÿ‡ฉ๐Ÿ‡ฐ0.4%$2.5
Norway ๐Ÿ‡ณ๐Ÿ‡ด0.4%$3.5
Cyprus ๐Ÿ‡จ๐Ÿ‡พ0.3%$3.0
Belarus ๐Ÿ‡ง๐Ÿ‡พ0.2%$3.3
Belgium ๐Ÿ‡ง๐Ÿ‡ช0.2%$3.1
Czechia0.2%$3.0
Germany ๐Ÿ‡ฉ๐Ÿ‡ช0.2%$3.0
Netherlands ๐Ÿ‡ณ๐Ÿ‡ฑ0.2%$3.0
Finland ๐Ÿ‡ซ๐Ÿ‡ฎ0.1%$2.7
France ๐Ÿ‡ซ๐Ÿ‡ท0.1%$3.2
Ireland ๐Ÿ‡ฎ๐Ÿ‡ช0.1%$2.2
Luxembourg ๐Ÿ‡ฑ๐Ÿ‡บ0.1%$2.7
Slovenia ๐Ÿ‡ธ๐Ÿ‡ฎ0.1%$3.1
Azerbaijan ๐Ÿ‡ฆ๐Ÿ‡ฟ0.0%$2.5
Iceland ๐Ÿ‡ฎ๐Ÿ‡ธ0.0%$2.4
Switzerland ๐Ÿ‡จ๐Ÿ‡ญ0.0%$2.7
United Arab Emirates ๐Ÿ‡ฆ๐Ÿ‡ช0.0%$3.1
World ๐ŸŒŽ42.0%$3.5

In 52 countries, more than half of the population cannot afford a healthy diet. The majority of these are in Africa, with the rest located across Asia, Oceania, and the Americas.

By contrast, in four countriesโ€”Azerbaijan, Iceland, Switzerland, and the UAEโ€”everyone is able to afford a healthy diet. The picture is similar for most European and developed high-income countries, where more than 95% of the population can afford a healthy diet.

When the percentages are translated into numbers, Asia contains the most number of people unable to afford a healthy diet at 1.89 billion, of which 973 million people are in India alone. Another 1 billion people are in Africa, with around 151 million people in the Americas and Oceania.

While hunger is a worldwide concern, it is particularly acute in African countries, which cover all of the top 20 spots in the above table.

Africaโ€™s Deepening Food Crisis

In many countries across sub-Saharan Africa, more than 90% of the population cannot afford a healthy diet.

Sub-Saharan Africa is particularly susceptible to extreme climate events and the resulting volatility in food prices. Roughly one-third of the worldโ€™s droughts occur in the region, and some sub-Saharan countries are also heavily reliant on imports for food.

Russiaโ€™s invasion of Ukraine has deepened the crisis, with many African countries importing over 50% of their wheat from the two countries in conflict. The rising food prices from this supply chain disruption have resulted in double-digit food inflation in many African nations, which means that more people are likely to be unable to afford healthy diets.

The Horn of Africa region at the Eastern tip of Africa is particularly in turmoil. All the countries in the region are reliant on wheat from Russia and Ukraine, with Eritrea (100%) and Somalia (>90%) high up in the import dependency chart. Additionally, the region is facing its worst drought in 40 years alongside ongoing political conflicts. As a result, 22 million people are at risk of starvation.

Population Growth and Food Insecurity

In November of 2022, the global population is projected to surpass 8 billion people, and many of the fastest growing countries are also food-insecure.

By 2050, the global population is likely to increase by 35%, and to meet the growing demand for food, crop production will need to double. Given that agriculture is one of the biggest contributors to greenhouse gas emissions, this increase in crop production will also need to be environmentally sustainable.

As the impacts of climate change intensify and food demand increases, reducing food waste, building climate-resilient agricultural infrastructure, and improving agricultural productivity will all play a key role in reducing the levels of food insecurity sustainably.

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How Do Americans Spend Their Money, By Generation?

This interactive graphic shows a breakdown of how average Americans spend their money, and how expenses vary across generations.

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Annual Expenditure in the U.S. by Generation

How Americans Spend Their Money, By Generation

In 2021, the average American spent just over $60,000 a year. But where does all their money go? Unsurprisingly, spending habits vary wildly depending on age.

This graphic by Preethi Lodha uses data from the U.S. Bureau of Labor Statistics to show how average Americans spend their money, and how annual expenses vary across generations.

A Generational Breakdown of Overall Spending

Overall in 2021, Gen X (anyone born from 1965 to 1980) spent the most money of any U.S. generation, with an average annual expenditure of $83,357.

GenerationBirth Year RangeAverage Annual Expenditure (2021)
Silent1945 or earlier$44,683
Boomers1946 to 1964$62,203
Generation X1965 to 1980$83,357
Millennials1981 to 1996$69,061
Generation Z1997 or later$41,636

Gen X has been nicknamed the “sandwich generation” because many members of this age group are financially supporting both their aging parents as well as children of their own.

The second biggest spenders are Millennials with an average annual expenditure of $69,061. Just like Gen X, this generationโ€™s top three spending categories are housing, healthcare, and personal insurance.

On the opposite end of the spectrum, members of Generation Z are the lowest spenders with an average of $41,636. per year. Their spending habits are expected to ramp up, especially considering that in 2022 the oldest Gen Zers are just 25 and still early in their careers.

Similarities Across Generations

While spending habits vary depending on the age group, there are some categories that remain fairly consistent across the board.

One of the most consistent spending categories is housingโ€”itโ€™s by the far the biggest expense for all age groups, accounting for more than 30% of total annual spending for every generation.

GenerationAverage Spend on Housing (2021)% of Total Spend
Silent (1945 or earlier)$16,65637.3%
Boomers (1946 to 1964)$21,27334.2%
Generation X (1965 to 1980)$26,38531.7%
Millennials (1981 to 1996)$24,05234.8%
Generation Z (1997 or later)$15,44937.1%

Another spending category thatโ€™s surprisingly consistent across every generation is entertainment. All generations spent more than 4% of their total expenditures on entertainment, but none dedicated more than 5.6%.

GenerationAverage Spend on Entertainment (2021)% of Total Spend
Silent (1945 or earlier)$2,0274.5%
Boomers (1946 to 1964)$3,4765.6%
Generation X (1965 to 1980)$4,6945.6%
Millennials (1981 to 1996)$3,4575.0%
Generation Z (1997 or later)$1,6934.1%

Gen Zers spent the least on entertainment, which could boil down to the types of entertainment this generation typically enjoys. For instance, a study found that 51% of respondents aged 13-19 watch videos on Instagram on a weekly basis, while only 15% watch cable TV.

Differences Across Generations

One category that varies the most between generations and relative needs is spending on healthcare.

As the table below shows, the Silent Generation spent an average of $7,053 on healthcare, or 15.8% of their total average spend. Comparatively, Gen Z only spent $1,354 on average, or 3.3% of their total average spend.

GenerationAverage Spend on Healthcare (2021)% of Total Spend
Silent (1945 or earlier)$7,05315.8%
Boomers (1946 to 1964)$6,59410.6%
Generation X (1965 to 1980)$5,5506.7%
Millennials (1981 to 1996)$4,0265.8%
Generation Z (1997 or later)$1,3543.3%

However, while the younger generations typically spend less on healthcare, theyโ€™re also less likely to be insuredโ€”so those who do get sick could be left with a hefty bill.

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