Economy

Variety of billionaires on the earth by nation

The connection between wealth and happiness, by nation

All through historical past, the pursuit of happiness has been the principle concern of mankind.

After all, we people are usually not content material to measure our personal happiness, but in addition measure our happiness in relation to the individuals round us, and even to different individuals all over the world. The annual World Happiness Report, which makes use of international survey knowledge to report how individuals in additional than 150 international locations price their lives, helps us do exactly that.

The elements that contribute to happiness are as subjective and distinctive because the billions of individuals they have an effect on, however there are just a few that resonate over time. Household. Love. Objective. Wealth. The primary three examples are tough to measure, however the final one might be analyzed in a data-driven means.

Can cash actually purchase happiness? Let’s discover out.

Wealth and happiness

To give you the numbers, we checked out knowledge from Credit score Suisse, which breaks down the typical wealth per grownup in numerous international locations all over the world.

The desk beneath ranks 146 international locations by happiness and wealth per grownup:

Nation Common wealth per grownup (US$) Happiness rating
๐Ÿ‡ซ๐Ÿ‡ฎ Finland 73 775 7.8
๐Ÿ‡ฉ๐Ÿ‡ฐ Denmark 165 622 7.6
๐Ÿ‡ฎ๐Ÿ‡ธ Iceland 231 462 7.6
๐Ÿ‡จ๐Ÿ‡ญ Switzerland 146 733 7.5
๐Ÿ‡ฎ๐Ÿ‡ฑ Israel 80 315 7.4
๐Ÿ‡ธ๐Ÿ‡ช Sweden 89 846 7.4
๐Ÿ‡ณ๐Ÿ‡ด Norway 117 798 7.4
๐Ÿ‡ณ๐Ÿ‡ฑ The Netherlands 136 105 7.4
๐Ÿ‡ฑ๐Ÿ‡บ Luxembourg 259,899 7.4
๐Ÿ‡ฆ๐Ÿ‡น Austria 91 833 7.2
๐Ÿ‡ณ๐Ÿ‡ฟ New Zealand 171 624 7.2
๐Ÿ‡ฆ๐Ÿ‡บ Australia 238,072 7.2
๐Ÿ‡ฉ๐Ÿ‡ช Germany 65 374 7.0
๐Ÿ‡บ๐Ÿ‡ธ United States of America 79 274 7.0
๐Ÿ‡ฎ๐Ÿ‡ช Eire 99,028 7.0
๐Ÿ‡จ๐Ÿ‡ฆ Canada 125 688 7.0
๐Ÿ‡จ๐Ÿ‡ฟ Czech Republic 23 794 6.9
๐Ÿ‡ฌ๐Ÿ‡ง Nice Britain 131 522 6.9
๐Ÿ‡ง๐Ÿ‡ช Belgium 230 548 6.8
๐Ÿ‡ซ๐Ÿ‡ท France 133 559 6.7
๐Ÿ‡ง๐Ÿ‡ญ Bahrain 14,520 6.6
๐Ÿ‡จ๐Ÿ‡ท Costa Rica 14 662 6.6
๐Ÿ‡ฆ๐Ÿ‡ช United Arab Emirates 21 613 6.6
๐Ÿ‡ธ๐Ÿ‡ฎ Slovenia 67 961 6.6
๐Ÿ‡ธ๐Ÿ‡ฆ Saudi Arabia 15 495 6.5
๐Ÿ‡บ๐Ÿ‡พ Uruguay 22,088 6.5
๐Ÿ‡ท๐Ÿ‡ด Romania 23 675 6.5
๐Ÿ‡ฝ๐Ÿ‡ฐ Kosovo 46,087 6.5
๐Ÿ‡ธ๐Ÿ‡ฌ Singapore 86 717 6.5
๐Ÿ‡น๐Ÿ‡ผ Taiwan 93 044 6.5
๐Ÿ‡ช๐Ÿ‡ธ Spain 105 831 6.5
๐Ÿ‡ฎ๐Ÿ‡น Italy 118,885 6.5
๐Ÿ‡ฑ๐Ÿ‡น Lithuania 29,679 6.4
๐Ÿ‡ธ๐Ÿ‡ฐ Slovakia 45,853 6.4
๐Ÿ‡ถ๐Ÿ‡ฆ Qatar 83 680 6.4
๐Ÿ‡ฒ๐Ÿ‡น Malta 84 390 6.4
๐Ÿ‡ง๐Ÿ‡ท Brazil 3,469 6.3
๐Ÿ‡ต๐Ÿ‡ฆ Panama 13 147 6.3
๐Ÿ‡ฌ๐Ÿ‡น Guatemala 30,586 6.3
๐Ÿ‡ช๐Ÿ‡ช Estonia 38,901 6.3
๐Ÿ‡ณ๐Ÿ‡ฎ Nicaragua 3,694 6.2
๐Ÿ‡ฐ๐Ÿ‡ฟ Kazakhstan 12,029 6.2
๐Ÿ‡ท๐Ÿ‡ธ Serbia 14,954 6.2
๐Ÿ‡จ๐Ÿ‡ฑ Chile 17 747 6.2
๐Ÿ‡ฑ๐Ÿ‡ป Latvia 33 884 6.2
๐Ÿ‡จ๐Ÿ‡พ Cyprus 35,300 6.2
๐Ÿ‡บ๐Ÿ‡ฟ Uzbekistan 7 821 6.1
๐Ÿ‡ธ๐Ÿ‡ป Salvador 11 372 6.1
๐Ÿ‡ฒ๐Ÿ‡ฝ Mexico 13 752 6.1
๐Ÿ‡ต๐Ÿ‡ฑ Poland 23,550 6.1
๐Ÿ‡ญ๐Ÿ‡บ Hungary 24,126 6.1
๐Ÿ‡ฒ๐Ÿ‡บ Mauritius 27 456 6.1
๐Ÿ‡ฐ๐Ÿ‡ผ Kuwait 28,698 6.1
๐Ÿ‡ญ๐Ÿ‡ท Croatia 34,945 6.1
๐Ÿ‡ฆ๐Ÿ‡ท Argentina 2,157 6.0
๐Ÿ‡ญ๐Ÿ‡ณ Honduras 15,380 6.0
๐Ÿ‡ต๐Ÿ‡น Portugal 61 306 6.0
๐Ÿ‡ฏ๐Ÿ‡ต Japan 122,980 6.0
๐Ÿ‡ต๐Ÿ‡ญ Philippines 3,155 5.9
๐Ÿ‡ฏ๐Ÿ‡ฒ Jamaica 5,976 5.9
๐Ÿ‡ฒ๐Ÿ‡ฉ Moldova 7 577 5.9
๐Ÿ‡น๐Ÿ‡ญ Thailand 8 036 5.9
๐Ÿ‡ฌ๐Ÿ‡ท Greece 57 595 5.9
๐Ÿ‡ฐ๐Ÿ‡ท South Korea 89 671 5.9
๐Ÿ‡ฐ๐Ÿ‡ฌ Kyrgyzstan 2238 5.8
๐Ÿ‡ฒ๐Ÿ‡ณ Mongolia 2546 5.8
๐Ÿ‡จ๐Ÿ‡ด Colombia 4 854 5.8
๐Ÿ‡ง๐Ÿ‡พ Belarus 12 168 5.8
๐Ÿ‡ง๐Ÿ‡ฆ Bosnia and Herzegovina 15 283 5.8
๐Ÿ‡ฒ๐Ÿ‡พ Malaysia 8 583 5.7
๐Ÿ‡ฉ๐Ÿ‡ด Dominican Republic 22 701 5.7
๐Ÿ‡ต๐Ÿ‡พ Paraguay 3,644 5.6
๐Ÿ‡ง๐Ÿ‡ด Bolivia 3 804 5.6
๐Ÿ‡ต๐Ÿ‡ช Peru 5 445 5.6
๐Ÿ‡จ๐Ÿ‡ณ China 24,067 5.6
๐Ÿ‡ป๐Ÿ‡ณ Vietnam 4,559 5.5
๐Ÿ‡ท๐Ÿ‡บ Russia 5,431 5.5
๐Ÿ‡ช๐Ÿ‡จ Ecuador 5 444 5.5
๐Ÿ‡น๐Ÿ‡ฒ Turkmenistan 9 030 5.5
๐Ÿ‡ฒ๐Ÿ‡ช Montenegro 30 739 5.5
๐Ÿ‡ณ๐Ÿ‡ต Nepal 1437 5.4
๐Ÿ‡น๐Ÿ‡ฏ Tajikistan 1844 5.4
๐Ÿ‡ฆ๐Ÿ‡ฒ Armenia 9 411 5.4
๐Ÿ‡ง๐Ÿ‡ฌ Bulgaria 17 403 5.4
๐Ÿ‡ญ๐Ÿ‡ฐ Hong Kong SAR 173 768 5.4
๐Ÿ‡ฑ๐Ÿ‡พ Libya 6,512 5.3
๐Ÿ‡ง๐Ÿ‡ฉ Bangladesh 3062 5.2
๐Ÿ‡ฟ๐Ÿ‡ฆ South Africa 4523 5.2
๐Ÿ‡ฎ๐Ÿ‡ฉ Indonesia 4,693 5.2
๐Ÿ‡ฆ๐Ÿ‡ฟ Azerbaijan 5 022 5.2
๐Ÿ‡จ๐Ÿ‡ฎ Ivory Coast 6 621 5.2
๐Ÿ‡ฆ๐Ÿ‡ฑ Albania 15 363 5.2
๐Ÿ‡ฒ๐Ÿ‡ฐ North Macedonia 51 788 5.2
๐Ÿ‡ฌ๐Ÿ‡ฒ The Gambia 658 5.2
๐Ÿ‡ฑ๐Ÿ‡ท Liberia 1464 5.1
๐Ÿ‡ฑ๐Ÿ‡ฆ Laos 1610 5.1
๐Ÿ‡ฉ๐Ÿ‡ฟ Algeria 2302 5.1
๐Ÿ‡บ๐Ÿ‡ฆ Ukraine 2529 5.1
๐Ÿ‡ฒ๐Ÿ‡ฆ Morocco 3 874 5.1
๐Ÿ‡จ๐Ÿ‡ฌ Congo 582 5.1
๐Ÿ‡ธ๐Ÿ‡ณ Senegal 1570 5.0
๐Ÿ‡ฌ๐Ÿ‡ช Georgia 4,223 5.0
๐Ÿ‡ฌ๐Ÿ‡ฆ Gabon 4 685 5.0
๐Ÿ‡ฒ๐Ÿ‡ฟ Mozambique 345 5.0
๐Ÿ‡ณ๐Ÿ‡ช Niger 492 5.0
๐Ÿ‡จ๐Ÿ‡ฒ Cameroon 941 5.0
๐Ÿ‡ฌ๐Ÿ‡ญ Ghana 2,198 4.9
๐Ÿ‡ฎ๐Ÿ‡ถ Iraq 6 378 4.9
๐Ÿ‡ป๐Ÿ‡ช Venezuela 7 341 4.9
๐Ÿ‡ฎ๐Ÿ‡ท Iran 7 621 4.9
๐Ÿ‡ฌ๐Ÿ‡ณ Guinea 938 4.9
๐Ÿ‡น๐Ÿ‡ท Turkey 8 001 4.7
๐Ÿ‡ง๐Ÿ‡ซ Burkina Faso 622 4.7
๐Ÿ‡ฐ๐Ÿ‡ฒ Comoros Islands 1466 4.6
๐Ÿ‡ณ๐Ÿ‡ฌ Nigeria 1,474 4.6
๐Ÿ‡ฐ๐Ÿ‡ญ Cambodia 2031 4.6
๐Ÿ‡บ๐Ÿ‡ฌ Uganda 646 4.6
๐Ÿ‡ง๐Ÿ‡ฏ Benin 890 4.6
๐Ÿ‡ต๐Ÿ‡ฐ Pakistan 2,187 4.5
๐Ÿ‡ณ๐Ÿ‡ฆ Namibia 3,677 4.5
๐Ÿ‡ฐ๐Ÿ‡ช Kenya 3,683 4.5
๐Ÿ‡น๐Ÿ‡ณ Tunisia 6,177 4.5
๐Ÿ‡ฒ๐Ÿ‡ฑ Mali 869 4.5
๐Ÿ‡ฒ๐Ÿ‡ฒ Myanmar 2,458 4.4
Sri Lanka 8 802 4.4
๐Ÿ‡จ๐Ÿ‡ฉ Democratic Republic of Congo 356 4.4
๐Ÿ‡ช๐Ÿ‡ฌ Egypt 6 329 4.3
๐Ÿ‡น๐Ÿ‡ฉ Chad 355 4.3
๐Ÿ‡ฒ๐Ÿ‡ฌ Madagascar 666 4.3
๐Ÿ‡ฒ๐Ÿ‡ท Mauritania 1037 4.2
๐Ÿ‡พ๐Ÿ‡ช Yemen 1223 4.2
๐Ÿ‡ช๐Ÿ‡น Ethiopia 1527 4.2
๐Ÿ‡ฏ๐Ÿ‡ด Jordan 10,842 4.2
๐Ÿ‡น๐Ÿ‡ฌ Togo 468 4.1
๐Ÿ‡ฎ๐Ÿ‡ณ India 3,194 3.8
๐Ÿ‡ฒ๐Ÿ‡ผ Malawi 606 3.8
๐Ÿ‡ฟ๐Ÿ‡ฒ Zambia 692 3.8
๐Ÿ‡น๐Ÿ‡ฟ Tanzania 1433 3.7
๐Ÿ‡ญ๐Ÿ‡น Haiti 193 3.6
๐Ÿ‡ธ๐Ÿ‡ฑ Sierra Leone 370 3.6
๐Ÿ‡ง๐Ÿ‡ผ Botswana 3 680 3.5
๐Ÿ‡ฑ๐Ÿ‡ธ Lesotho 264 3.5
๐Ÿ‡ท๐Ÿ‡ผ Rwanda 1266 3.3
๐Ÿ‡ฑ๐Ÿ‡ง Lebanon 18 159 3.0
๐Ÿ‡ธ๐Ÿ‡ธ South Sudan 2,677 2.9
๐Ÿ‡ฆ๐Ÿ‡ซ Afghanistan 734 2.4

Though the outcomes don’t conclusively present that wealth contributes to happiness, there’s a sturdy correlation throughout the board. Normally, the world’s poorest international locations have the bottom ranges of happiness, whereas the richest international locations are the happiest.

Regional and nation degree controls

Whereas most international locations observe a transparent pattern (extra wealth = extra happiness), there are nuances and deviations price exploring.

  • yr Latin americaindividuals really feel happier than the pattern between wealth and happiness would counsel.
  • Alternatively, many countries Center east report much less happiness than wealth.
  • Because of the political turmoil, the financial disaster and the devastating explosion in Beirut Lebanon scored a lot worse than anticipated. The nation’s rating has dropped by two full factors over the previous decade.
  • Hong Kong has seen his happiness rating drop through the years. Inequality, protests, instability and now the outbreak of COVID-19 have positioned the area in a singular zone on the chart: wealthy and sad.

A research of inequality and happiness

We have appeared on the relationship between wealth and happiness throughout international locations, however what? inside international locations?

The Gini coefficient is a device that enables us to do exactly that. This indicator seems on the distribution of earnings by inhabitants and applies a rating to that inhabitants. Merely put, a rating of 0 could be “excellent equality” and 1 could be “excellent inequality” (ie a person or group of recipients receives the total distribution of earnings).

Mixed with the happiness scale as earlier than, that is how international locations are shaped.

Whereas there aren’t any agency conclusions to be drawn from this knowledge set, there are some large image observations price highlighting.

15 international locations with the very best earnings inequality

Nations with excessive inequality Happiness rating Gini rating
๐Ÿ‡ฟ๐Ÿ‡ฆ South Africa 5.2 0.63
๐Ÿ‡ณ๐Ÿ‡ฆ Namibia 4.5 0.59
๐Ÿ‡ฟ๐Ÿ‡ฒ Zambia 3.8 0.57
๐Ÿ‡จ๐Ÿ‡ด Colombia 5.8 0.54
๐Ÿ‡ฒ๐Ÿ‡ฟ Mozambique 5.0 0.54
๐Ÿ‡ง๐Ÿ‡ผ Botswana 3.5 0.53
๐Ÿ‡ฟ๐Ÿ‡ผ Zimbabwe 3.0 0.50
๐Ÿ‡ต๐Ÿ‡ฆ Panama 6.3 0.50
๐Ÿ‡จ๐Ÿ‡ท Costa Rica 6.6 0.49
๐Ÿ‡ง๐Ÿ‡ท Brazil 6.3 0.49
๐Ÿ‡ฌ๐Ÿ‡น Guatemala 6.3 0.48
๐Ÿ‡ญ๐Ÿ‡ณ Honduras 6.0 0.48
๐Ÿ‡ง๐Ÿ‡ซ Burkina Faso 4.7 0.47
๐Ÿ‡ช๐Ÿ‡จ Ecuador 5.5 0.47
๐Ÿ‡จ๐Ÿ‡ฒ Cameroon 5.0 0.47
Common 5.2 52

First, international locations with decrease earnings inequality report larger happiness. The 15 international locations with the very best inequality on this knowledge set (proven above) have 1.3 decrease happiness ranges than the 15 international locations with the bottom (proven beneath).

15 international locations with the bottom earnings inequality

Nations with low ranges of inequality Fortunate rating Gini rating
๐Ÿ‡ธ๐Ÿ‡ฐ Slovakia 6.4 23.2
๐Ÿ‡ง๐Ÿ‡พ Belarus 5.8 24.4
๐Ÿ‡ธ๐Ÿ‡ฎ Slovenia 6.6 24.4
๐Ÿ‡ฆ๐Ÿ‡ฒ Armenia 5.4 25.2
๐Ÿ‡จ๐Ÿ‡ฟ Czech Republic 6.9 25.3
๐Ÿ‡บ๐Ÿ‡ฆ Ukraine 5.1 25.6
๐Ÿ‡ฒ๐Ÿ‡ฉ Moldova 5.9 26
๐Ÿ‡ฆ๐Ÿ‡ช United Arab Emirates 6.6 26
๐Ÿ‡ฎ๐Ÿ‡ธ Iceland 7.6 26.1
๐Ÿ‡ง๐Ÿ‡ช Belgium 6.8 27.2
๐Ÿ‡ฉ๐Ÿ‡ฐ Denmark 7.6 27.7
๐Ÿ‡ซ๐Ÿ‡ฎ Finland 7.8 27.7
๐Ÿ‡ณ๐Ÿ‡ด Norway 7.4 27.7
๐Ÿ‡ฐ๐Ÿ‡ฟ Kazakhstan 6.2 27.8
๐Ÿ‡ญ๐Ÿ‡ท Croatia 6.1 28.9
Common 6.5 26

Then there are the fascinating regional variations.

Regardless of excessive earnings inequality, many Latin American international locations report ranges of happiness just like many a lot wealthier European international locations.

The underside line

People have been trying to find insights into happiness for 1000’s of years, and slicing and dicing datasets is unlikely to crack the code. Nonetheless, identical to the pursuit of happiness, the pursuit of understanding is human nature.

Extra particularly, the extra politicians and the general public perceive the connection between wealth and happiness, the extra we will form societies that give us a greater probability of residing happier lives.

The place did this knowledge come from?

Supply: Credit score Suisse International Wealth Databook 2021, World Happiness Report 2022, World Financial institution

Knowledge data: This visualization contains international locations with accessible knowledge on happiness and wealth per grownup. Credit score Suisse notes that resulting from incomplete knowledge, the next international locations are estimates of common wealth per grownup: North Macedonia, Kosovo, Guatemala, Dominican Republic, Honduras, Uzbekistan, Cรดte d’Ivoire and South Sudan. Nation happiness knowledge is from the 2022 report, except for Qatar, Congo, Haiti and South Sudan, that are from the 2019 report. Solely international locations with knowledge after 2014 have been included to calculate the Gini coefficient. Because of this, main economies comparable to India and Japan have been neglected of this visualization.

Chart entry: The wealth axis is plotted logarithmically to raised visualize the pattern. This method is commonly used when a small variety of outcomes distorts the visualization, making it tough to realize perception. On this case, there are nice extremes between the world’s richest and poorest international locations.

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