Money
World of Wealth: The Top Cities for Millionaires
World of Wealth: The Top Cities for Millionaires
Previously, we featured this post on the world’s millionaires, which covers millionaire density and the top cities as well. However, today’s infographic has some information that is particularly interesting, which can be found in the “Ultra High Net Worths by Country” section.
This breaks down the demographics of the rich by looking at age, gender, net worth, political involvement, charitable foundations, and whether they are self-made or have inherited their money. Hong Kong and Germany have the highest degree of millionaires that are female, and Russia and China have the youngest average millionaire age. More than one half of American millionaires are politically involved, while only 2% of Germany’s wealthy are involved in politics.
Graphic from: Raconteur
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Money
How Debt-to-GDP Ratios Have Changed Since 2000
See how much the debt-to-GDP ratios of advanced economies have grown (or shrank) since the year 2000.
How Debt-to-GDP Ratios Have Changed Since 2000
This was originally posted on our Voronoi app. Download the app for free on Apple or Android and discover incredible data-driven charts from a variety of trusted sources.
Government debt levels have grown in most parts of the world since the 2008 financial crisis, and even more so after the COVID-19 pandemic.
To gain perspective on this long-term trend, we’ve visualized the debt-to-GDP ratios of advanced economies, as of 2000 and 2024 (estimated). All figures were sourced from the IMF’s World Economic Outlook.
Data and Highlights
The data we used to create this graphic is listed in the table below. “Government gross debt” consists of all liabilities that require payment(s) of interest and/or principal in the future.
| Country | 2000 (%) | 2024 (%) | Change (pp) |
|---|---|---|---|
| 🇯🇵 Japan | 135.6 | 251.9 | +116.3 |
| 🇸🇬 Singapore | 82.3 | 168.3 | +86.0 |
| 🇺🇸 United States | 55.6 | 126.9 | +71.3 |
| 🇬🇧 United Kingdom | 36.6 | 105.9 | +69.3 |
| 🇬🇷 Greece | 104.9 | 160.2 | +55.3 |
| 🇫🇷 France | 58.9 | 110.5 | +51.6 |
| 🇵🇹 Portugal | 54.2 | 104.0 | +49.8 |
| 🇪🇸 Spain | 57.8 | 104.7 | +46.9 |
| 🇸🇮 Slovenia | 25.9 | 66.5 | +40.6 |
| 🇫🇮 Finland | 42.4 | 76.5 | +34.1 |
| 🇭🇷 Croatia | 35.4 | 61.8 | +26.4 |
| 🇨🇦 Canada | 80.4 | 103.3 | +22.9 |
| 🇨🇾 Cyprus | 56.0 | 70.9 | +14.9 |
| 🇦🇹 Austria | 65.7 | 74.0 | +8.3 |
| 🇸🇰 Slovak Republic | 50.5 | 56.5 | +6.0 |
| 🇩🇪 Germany | 59.3 | 64.0 | +4.7 |
| 🇧🇪 Belgium | 109.6 | 106.8 | -2.8 |
| 🇮🇱 Israel | 77.4 | 56.8 | -20.6 |
| 🇮🇸 Iceland | 75.8 | 54.6 | -21.2 |
The debt-to-GDP ratio indicates how much a country owes compared to the size of its economy, reflecting its ability to manage and repay debts. Percentage point (pp) changes shown above indicate the increase or decrease of these ratios.
Countries with the Biggest Increases
Japan (+116 pp), Singapore (+86 pp), and the U.S. (+71 pp) have grown their debt as a percentage of GDP the most since the year 2000.
All three of these countries have stable, well-developed economies, so it’s unlikely that any of them will default on their growing debts. With that said, higher government debt leads to increased interest payments, which in turn can diminish available funds for future government budgets.
This is a rising issue in the U.S., where annual interest payments on the national debt have surpassed $1 trillion for the first time ever.
Only 3 Countries Saw Declines
Among this list of advanced economies, Belgium (-2.8 pp), Iceland (-21.2 pp), and Israel (-20.6 pp) were the only countries that decreased their debt-to-GDP ratio since the year 2000.
According to Fitch Ratings, Iceland’s debt ratio has decreased due to strong GDP growth and the use of its cash deposits to pay down upcoming maturities.
See More Debt Graphics from Visual Capitalist
Curious to see which countries have the most government debt in dollars? Check out this graphic that breaks down $97 trillion in debt as of 2023.
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