Markets
Visualizing the Emerging Markets of the Future
Visualizing the Emerging Markets of the Future
China’s rapid pace of growth is slowing, and no one knows if India can become the next China. So who will lead global economic growth?
Today’s infographic looks at the emerging markets of the future, or to say more confusedly, the “emerging” emerging markets.
The data speaks for itself. By 2050, Nigeria will be the 9th biggest economy in the world when measured by purchasing power parity (PPP). Pakistan will jump to 15th, and countries such as the Philippines, Bangladesh, and Vietnam will make big leaps to help round out the top 25.
The Asia-Pacific region, which currently makes up only 4.8% of the world’s middle-class spending, will balloon to the biggest spender by far in 2030 at 32.6%. For comparison, North America will jump from 5.5% to 5.8% in that same time period.
There is plenty of money to be made as well. Ultra high net worth individuals, defined as people with over $30 million in assets, will soar in these countries in the coming years. For example, in Africa as a whole, the amount of these individuals will grow 59% over the next decade, compared to the average global rate of 34% growth.
Original graphic by: Raconteur
Markets
The Fastest Rising U.S. Housing Markets in 2024
As U.S. home prices hit record highs, which housing market is seen the fastest growth? This graphic shows the top 10 across the country.
The Fastest Rising U.S. Housing Markets in 2024
This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.
The U.S. housing market has been on a tear, with median sales prices rising more than 40% since February 2020.
While cities in southern states like Florida have witnessed some of the strongest price growth, more affordable cities across the Midwest are also seeing growing demand as buyers seek out cheaper options.
This graphic shows the U.S. metros with the fastest price growth, based on data from Redfin.
Hottest Housing Markets in America
Below, we rank the metropolitan areas with the fastest annual median sales price growth as of February 2024:
Rank | Metro | Median Sales Price Growth Feb 2024 YoY |
---|---|---|
1 | Pittsburgh, PA | +22.0% |
2 | Fort Lauderdale, FL | +18.0% |
3 | Greensboro, NC | +17.8% |
4 | Meridian, ID | +17.3% |
5 | Toledo, OH | +17.0% |
6 | Boca Raton, FL | +16.4% |
7 | West Palm Beach, FL | +16.1% |
8 | Orlando, FL | +15.9% |
9 | Milwaukee, WI | +15.6% |
10 | Alexandria, VA | +15.4% |
U.S. average | +6.5% |
Pittsburgh, PA soars to the top of the list, with median sale prices jumping 22% over the year.
Once known as a center for steel and iron manufacturing, the city has emerged as a hub for high-tech industries including robotics, software engineering, and healthcare. At a time when housing affordability is near record lows, buyers have flocked to the market thanks to its lower home prices. In February, median sales prices in Pittsburgh were $250,000 compared to the U.S. median price of $412,219.
Following next in line is Fort Lauderdale, FL with prices jumping 18% annually. Like several cities across the state, property values have boomed thanks to the state’s warm climate and low taxes. The state also ranks as one of the best in the country to retire. In 2023, it was one of the fastest growing states in the country, adding 365,205 residents overall.
As we can see, just one housing market in the West, Meridian, ID, is experiencing some of the strongest price growth in the country. Since the pandemic, many Californians priced out of expensive real estate markets have moved to the state due to its strong job market, low crime rate, and affordability. In fact, Los Angeles and San Fransisco are some of the top metropolitan areas nationally that people are moving away from due to remote-work trends and the high cost of living.
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