Money
Wealth Needed to Join the Top 1%, by Country
See this visualization first on the Voronoi app.
Wealth Needed to Join the Top 1%, by Country
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 last decade has witnessed a remarkable surge in the global number of millionaires.
By 2022, 1.1% of the world’s adults were millionaires, up from 0.6% in 2012. So, how to know if you belong to the top 1% in your country?
In this infographic, we illustrate the net wealth required to enter the club in selected countries and territories. The data is sourced from the Knight Frank Wealth Report 2024.
The 1% Club
The individual net wealth required to join the top 1% can vary across countries.
European hubs top the list, with small countries like Monaco or Luxembourg having extremely high wealth barriers to joining the top 1%.
| Countries | Region | Wealth (USD) | Population |
|---|---|---|---|
| 🇲🇨 Monaco | Europe | $12,883,000 | 36,297 |
| 🇱🇺 Luxembourg | Europe | $10,832,000 | 654,768 |
| 🇨🇭 Switzerland | Europe | $8,509,000 | 8,796,669 |
| 🇺🇸 U.S. | N. America | $5,813,000 | 339,996,563 |
| 🇸🇬 Singapore | Asia | $5,227,000 | 6,014,723 |
| 🇸🇪 Sweden | Europe | $4,761,000 | 10,612,086 |
| 🇦🇺 Australia | Oceania | $4,673,000 | 26,439,111 |
| 🇳🇿 New Zealand | Oceania | $4,574,000 | 5,228,100 |
| 🇮🇪 Ireland | Europe | $4,321,000 | 5,056,935 |
| 🇩🇪 Germany | Europe | $3,430,000 | 83,294,633 |
| 🇫🇷 France | Europe | $3,273,000 | 64,756,584 |
| 🇭🇰 Hong Kong SAR | Asia | $3,094,000 | 7,491,609 |
| 🇬🇧 UK | Europe | $3,070,000 | 67,736,802 |
| 🇮🇹 Italy | Europe | $2,548,000 | 58,870,762 |
| 🇪🇸 Spain | Europe | $2,468,000 | 47,519,628 |
| 🇯🇵 Japan | Asia | $1,971,000 | 123,294,513 |
| 🇨🇳 China (mainland) | Asia | $1,074,000 | 1,425,671,352 |
According to this year’s report, Monaco leads with $12.9 million required to join the 1% club. Currently, more than 30% of Monaco’s estimated 38,000 residents are millionaires.
Luxembourg follows at $10.8 million, with Switzerland at $8.5 million securing the third position.
The U.S. ranks fourth at $5.8 million. Despite having the most ultra-wealthy individuals, the country’s high population base brings the law of averages into play.
In the Asia Pacific region, Singapore leads the pack with a requirement of $5.2 million, while Hong Kong comes second at $3.1 million.
Interestingly, a person in Hong Kong needs almost three times more wealth to join the 1% club compared to someone in Mainland China.
How to Join the 1% Club?
To be part of the top 1% club of one’s country or region often requires a combination of advanced education, entrepreneurship, strategic investments, and even luck. While there’s no guaranteed path to entry, consistency and time are key factors.
In the U.S., for instance, many individuals and families who have surpassed the 1% threshold have done so over time.
Markets
Top 10 Countries Most in Debt to the IMF
Argentina tops the ranking, with a debt equivalent to 5.3% of the country’s GDP.
Top 10 Countries Most in Debt to the IMF
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.
Established in 1944, the International Monetary Fund (IMF) supports countries’ economic growth by providing financial aid and guidance on policies to enhance stability, productivity, and job opportunities.
Countries seek loans from the IMF to address economic crises, stabilize their currencies, implement structural reforms, and alleviate balance of payments difficulties.
In this graphic, we visualize the 10 countries most indebted to the fund.
Methodology
We compiled this ranking using the International Monetary Fund’s data on Total IMF Credit Outstanding. We selected the latest debt data for each country, accurate as of April 29, 2024.
Argentina Tops the Rank
Argentina’s debt to the IMF is equivalent to 5.3% of the country’s GDP. In total, the country owns more than $32 billion.
| Country | IMF Credit Outstanding ($B) | GDP ($B, 2024) | IMF Debt as % of GDP |
|---|---|---|---|
| 🇦🇷 Argentina | 32 | 604.3 | 5.3 |
| 🇪🇬 Egypt | 11 | 347.6 | 3.1 |
| 🇺🇦 Ukraine | 9 | 188.9 | 4.7 |
| 🇵🇰 Pakistan | 7 | 374.7 | 1.8 |
| 🇪🇨 Ecuador | 6 | 121.6 | 4.9 |
| 🇨🇴 Colombia | 3 | 386.1 | 0.8 |
| 🇦🇴 Angola | 3 | 92.1 | 3.2 |
| 🇰🇪 Kenya | 3 | 104.0 | 2.8 |
| 🇬🇭 Ghana | 2 | 75.2 | 2.6 |
| 🇨🇮 Ivory Coast | 2 | 86.9 | 2.3 |
A G20 member and major grain exporter, the country’s history of debt trouble dates back to the late 1890s when it defaulted after contracting debts to modernize the capital, Buenos Aires. It has already been bailed out over 20 times in the last six decades by the IMF.
Five of the 10 most indebted countries are in Africa, while three are in South America.
The only European country on our list, Ukraine has relied on international support amidst the conflict with Russia. It is estimated that Russia’s full-scale invasion of the country caused the loss of a third of the country’s economy. The country owes $9 billion to the IMF.
In total, almost 100 countries owe money to the IMF, and the grand total of all of these debts is $111 billion. The above countries (top 10) account for about 69% of these debts.
-
Personal Finance1 week agoVisualizing the Tax Burden of Every U.S. State
-
Misc6 days agoVisualized: Aircraft Carriers by Country
-
Culture6 days agoHow Popular Snack Brand Logos Have Changed
-
Mining1 week agoVisualizing Copper Production by Country in 2023
-
Misc1 week agoCharted: How Americans Feel About Federal Government Agencies
-
Healthcare1 week agoWhich Countries Have the Highest Infant Mortality Rates?
-
Demographics1 week agoMapped: U.S. Immigrants by Region
-
Maps1 week agoMapped: Southeast Asia’s GDP Per Capita, by Country