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Ranked: The Biggest Price Shocks Businesses Are Facing
Published 6 hours ago on February 23, 2026
By Jenna Ross
Graphics & Design
Athul Alexander
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The following content is sponsored by Terzo
Inflation Shock: The Biggest Price Hikes Businesses Are Facing
Key Takeaways Wholesale turkey had the largest price increase in 2025, with prices surging by 70%. Metals make up eight of the 15 commodities with the highest inflation.
Before households feel inflation at the checkout line, it often starts much earlier in the supply chain. When businesses face rising input costs, those pressures can ripple outward, shaping everything from grocery bills to construction budgets.
Created in partnership with Terzo, this graphic shows where business price hikes have been the most intense. It’s part of our Markets in a Minute series, which delivers quick economic insights for executives.
Commodities With the Most Sticker Shock
We’ve used data from the Producer Price Index, which tracks the prices businesses pay for inputs like raw materials, energy, and intermediate goods. The table below shows which commodities had the biggest price hikes in 2025.
CommodityCategoryDec. 2024 to Dec. 2025 Price Increase
Wholesale TurkeyFood & Agriculture 70%
Primary Metals*Metals62%
Metal Ores*Metals47%
Recycled Metals*Metals31%
Aluminum ProductsMetals31%
Aluminum ScrapMetals25%
Wholesale BeefFood & Agriculture 21%
Copper ScrapMetals20%
Industrial GasesChemical & Industrial18%
Nitrogen FertilizersChemical & Industrial18%
Steel ProductsMetals17%
Portfolio ManagementServices17%
Fluid Power Equipment**Chemical & Industrial16%
Wire and Cable*Metals15%
Inedible Fats & OilsFood & Agriculture 14%
*Excluding iron and steel. **Uses pressurized liquid or gas. Source: U.S. Bureau of Labor Statistics, data as of December 2025.
One standout: turkeys. Businesses saw wholesale prices rise by 70% in the last year, driven by bird flu outbreaks that reduced supply. Businesses using turkey as a core input, such as deli meat producers, frozen meal manufacturers, and pet food companies will be hit particularly hard.
Turkey inflation has also impacted grocers, but companies typically have not passed these prices on to consumers around Thanksgiving. Many retailers treat turkeys as a loss leader, absorbing higher costs to draw shoppers into their stores.
Metals: Crowding the Leaderboard of High Inflation
Notably, eight of the top 15 biggest price hikes are related to metals. Aluminum prices have been pushed higher by energy-intensive smelting costs, tariffs that have reduced supply, and high demand for the metal in everything from vehicles to AI data centers.
Copper has also seen high inflation, driven by tight supply just as demand accelerates from electrification, power grids, and renewable energy infrastructure.
Analysts are mixed on what they see coming for copper prices. While Goldman Sachs predicts that copper prices will decline in 2026, J.P. Morgan Global Research expects the rally to continue.
To navigate this complexity, leading businesses are turning to smarter tools. Terzo’s all-in-one AI platform, NirvanAI, helps leaders transform company contracts into clear, actionable insights.
See NirvanAI in action and learn how it helps you make decisions with confidence.
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Visualized: Where Attacks Happen in Cyber Intrusions
Published 6 hours ago on February 23, 2026
By Ryan Bellefontaine
Graphics & Design
Abha Patil
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The following content is sponsored by Palo Alto
Where Attacks Happen in Cyber Intrusions
Key Takeaways
Most cyber intrusions span multiple surfaces, so detection must connect signals across layers.
Identity leads the attack surface list, but endpoints and networks still enable fast pivots.
The human layer remains decisive, making awareness and phishing resistance operational priorities.
Cyber intrusions rarely follow a single path once attackers get a foothold. Instead, they pivot across systems to widen impact and deepen damage.
This graphic, in partnership with Unit 42 by Palo Alto Networks, shows where attacks occur in cyber intrusions, based on data from the Unit 42 Global Incident Response Report.
Identity Is the Practical Perimeter
Here is a table that breaks intrusions into nine primary attack surfaces observed across investigations.
Attack FrontIncidents Percentage
Identity89%
Endpoints61%
Network50%
Human45%
Email27%
Application26%
Cloud20%
SecOps10%
Database1%
In Unit 42’s sample, 87% of incidents touched at least two surfaces, and 67% hit three or more. Because the categories overlap, a single case can span multiple layers at once.
Identity Dominates, but the “Human Layer” Still Drives Risk
Identity appears in 89% of cases, making it the most common surface in the dataset. Meanwhile, endpoints (61%) and networks (50%) remain common launch points for lateral movement.Email (27%) and applications (26%) sit mid-pack, while cloud services appear in 20% of incidents. Still, even “lower” categories matter when attackers chain small wins into bigger access.
Humans show up in 45% of incidents, often through user-driven activity that enables the next pivot.
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SecOps appears in 10% of cases, so attackers sometimes probe security operations tooling and workflows. As a result, integrated detection and response helps contain movement before it reaches databases, which appear in 1% of incidents.
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Related Topics: #technology #cyberattacks #phishing #cyber intrusions #social engineering
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Charted: Trust in the U.S. Government Fell From 77% to 17%
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Trust in the U.S. Government Fell From 77% to 17%
See visuals like this from many other data creators on our Voronoi app. Download it for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.
Key Takeaways
Public trust in the U.S. federal government fell from 77% in 1964 to 17% in 2025, according to Pew Research.
Trust has rarely topped 30% since the early 2000s, with brief spikes during national crises like 9/11.
Over the past seven decades, Americans’ trust in the federal government has dropped from postwar highs to historic lows. In 1964, 77% said they trusted Washington to do what is right most of the time. As of September 2025, that figure stands at just 17%.
The chart above tracks this long-term shift, using data from Pew Research Center. While trust has occasionally surged during moments of national crisis, the broader trajectory shows a steady erosion across generations.
From Postwar Highs to Vietnam-Era Decline
Trust peaked in 1964, when 77% of Americans said they trusted the federal government most of the time. Even in 1958, nearly three-quarters of the public expressed confidence in the federal government.
That began to change in the late 1960s and early 1970s. By 1970, trust had fallen to 54%, and it slipped further to 36% by 1974 in the aftermath of Watergate. The Vietnam War, political scandals, and economic turbulence reshaped public opinion for decades to come.
DateTrust the government (%)
9/28/202517
2/9/202519
5/19/202418
6/11/202319
05/01/202220
4/11/202121
8/2/202024
4/12/202021
3/25/201917
12/04/201718
4/11/201719
10/04/201518
7/20/201419
2/26/201418
11/15/201320
10/13/201319
5/31/201320
02/06/201322
1/13/201323
10/31/201219
10/19/201117
10/04/201115
9/23/201118
8/21/201121
2/28/201123
10/21/201023
10/01/201021
09/06/201023
09/01/201023
04/05/201023
04/05/201022
3/21/201024
2/12/201022
02/05/201021
1/10/201020
12/20/200921
8/31/200922
6/12/200923
12/21/200825
10/15/200824
10/13/200824
07/09/200724
01/09/200728
10/08/200629
9/15/200630
02/05/200631
1/20/200633
01/06/200632
12/02/200532
9/11/200531
09/09/200530
6/19/200535
10/15/200439
7/15/200441
3/21/200438
10/26/200336
7/27/200343
10/15/200246
09/04/200246
09/02/200240
7/13/200240
6/17/200243
1/24/200246
12/07/200149
10/25/200154
10/06/200149
1/17/200144
10/31/200038
10/15/200042
07/09/200039
04/02/200038
2/14/200034
10/03/199936
9/14/199933
5/16/199933
2/21/199931
2/12/199932
02/04/199934
1/10/199934
01/03/199937
12/01/199833
11/15/199830
11/01/199826
10/26/199828
8/10/199831
2/22/199835
02/01/199833
1/25/199832
1/19/199832
10/31/199731
8/27/199731
06/01/199726
1/14/199727
11/02/199627
10/15/199628
5/12/199631
05/06/199629
11/19/199527
08/07/199522
08/05/199521
3/19/199520
2/22/199521
12/01/199421
10/29/199422
10/23/199420
06/06/199419
1/30/199420
1/20/199422
3/24/199325
1/17/199325
1/14/199325
10/23/199225
10/15/199225
06/08/199229
10/20/199135
03/06/199142
03/01/199146
1/27/199140
12/01/199033
10/28/199032
09/06/199035
1/16/199038
6/29/198939
1/15/198941
11/10/198843
10/15/198841
1/23/198840
10/18/198743
06/01/198743
03/01/198744
1/21/198743
1/19/198742
12/01/198644
11/30/198643
09/09/198644
1/19/198644
11/06/198543
7/29/198542
3/21/198540
2/27/198542
2/22/198545
11/14/198444
10/15/198441
12/01/198239
11/07/198032
10/15/198030
3/12/198027
11/03/197928
12/01/197831
10/23/197732
4/25/197734
10/15/197636
09/05/197635
6/15/197635
03/01/197634
02/08/197635
12/01/197436
10/15/197253
12/01/197054
10/15/196862
12/01/196665
10/15/196477
12/01/195873
Temporary Surges During National Crises
Although the long-term trend is downward, trust has occasionally rebounded during moments of national unity. After the 9/11 attacks, trust jumped from 44% to 54% in a matter of months. It was one of the last times a majority expressed confidence in Washington.
Similar, though smaller, increases occurred during other crises. In early 2020, trust briefly rose to 24% amid the COVID-19 outbreak. However, these bumps have proven short-lived, with trust quickly returning to lower levels.
A New Era of Persistent Low Trust
Since the mid-2000s, trust in government has rarely crossed the 30% mark. In the 2010s and early 2020s, it often dipped below 20%.
As of September 2025, just 17% of Americans say they trust the federal government most of the time — near the lowest level recorded in Pew’s time series.
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Mapped: The U.S. States With the Most Tech Jobs in 2025
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Mapped: The U.S. States With the Most Tech Jobs in 2025
See visuals like this from many other data creators on our Voronoi app. Download it for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.
Key Takeaways
The top three states (CA, NY, TX) alone account for over 1 million tech jobs, highlighting how concentrated the industry remains.
Washington (171,000) and Florida (161,000) round out the top five, forming a clear upper tier well ahead of the rest of the country.
Utah (+6.3%), Illinois (+5.7%), and South Carolina (+4.8%) posted the fastest annual growth rates, signaling momentum beyond the largest tech hubs.
California alone employs more than half a million tech workers, nearly twice as many as the next closest state.
This map shows where America’s tech jobs are located in 2025, highlighting how heavily the industry is concentrated in just a handful of states.
Figures are based on Bureau of Labor Statistics data via Arizona State University.
Ranked: Tech Jobs by State in 2025
Nationwide, tech employment totals roughly 3.2 million workers in 2025.
In the below table, we break down the number of tech jobs in each state, along with its growth rate over the last year.
RankStateNumber of Jobs 2025
Annual Job Growth
1California524K-2.8%
2New York286K0.0%
3Texas226K-2.0%
4Washington171K3.0%
5Florida161K0.5%
6Georgia112K-6.7%
7Illinois98K5.7%
8Massachusetts92K0.3%
9Pennsylvania88K-2.0%
10North Carolina85K-0.9%
11Colorado77K4.6%
12New Jersey70K-4.5%
13Virginia69K-4.2%
14Ohio67K1.4%
15Michigan57K-0.4%
16Tennessee55K-0.7%
17Wisconsin48K-1.6%
18Arizona48K-0.6%
19Missouri45K-2.8%
20Utah44K6.3%
21Minnesota41K-4.2%
22Oregon36K-0.8%
23Maryland34K-1.2%
24South Carolina31K4.8%
25Connecticut30K-0.7%
26Indiana26K-1.1%
27Alabama23K0.4%
28Kentucky21K-1.0%
29Nevada20K-0.5%
30Oklahoma18K2.3%
31Louisiana18K-4.7%
32Iowa18K0.0%
33Kansas18K2.3%
34Nebraska17K-2.3%
35Arkansas12K-4.1%
36New Hampshire11K-0.9%
37Mississippi10K-1.0%
38Idaho9K0.0%
39New Mexico9K-11.0%
40Hawaii8K-2.4%
41West Virginia8K-1.3%
42Maine8K-4.8%
43North Dakota5K1.9%
44Montana5K-5.3%
45South Dakota5K0.0%
46Rhode Island5K-7.1%
47Vermont4K-6.5%
48Alaska4K-4.7%
49Delaware4K0.0%
50Wyoming3K-3.3%
With 524,000 tech workers, California employs 18% of the nation’s tech workforce across over 61,000 firms.
Still, the state shed thousands of tech jobs last year, given economic uncertainty and the spillover effects of AI. Overall, tech jobs contracted 2.8% in 2025.
New York follows, with 286,000 tech workers, equal to one in 10 jobs nationwide. In 2025, tech job growth was effectively flat.
Ranking in third is Texas, with tech employment standing at 226,000. As a growing tech hub, the state has added over 26,000 roles in the sector since 2020. Last year, however, the number of roles contracted by 2%.
In contrast to these heavyweight states, several smaller tech hubs posted strong job growth. Utah’s tech workforce totals just 44,000, yet employment climbed 6.3% in 2025. Illinois, South Carolina, and Colorado—each with fewer than 100,000 tech jobs—saw gains of 5.8%, 4.8%, and 4.6%, respectively.
Learn More on the Voronoi App
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Charted: Who Believes in Aliens, Bigfoot, and the Chupacabra?
Charted: Who Believes in Aliens, Bigfoot and the Chupacabra?
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.
Key Takeaways
56% of Americans say aliens definitely or probably exist.
Only 28% believe Bigfoot exists, while 16% believe in the chupacabra.
Belief in the unknown, whether extraterrestrials or legendary creatures, remains surprisingly common in America. The visualization above, created by Julie Peasley using data from YouGov, explores how likely U.S. adults think it is that aliens, Bigfoot, and the chupacabra exist.
Here’s how Americans responded when asked how likely each being exists, according to YouGov:
EntityDefinitely ExistsProbably ExistsProbably Does Not ExistDefinitely Does Not ExistNot Sure
Aliens18%38%16%15%14%
Bigfoot4%24%27%33%12%
The Yeti3%20%28%32%17%
Chupacabra3%13%29%31%24%
Loch Ness Monster3%19%29%35%14%
Aliens clearly stand apart. A majority (56%) say extraterrestrials definitely or probably exist, more than double the share who believe in Bigfoot, and more than triple belief in the chupacabra.
Aliens: From Fringe to Mainstream?
Interest in extraterrestrial life has grown steadily, fueled by government disclosures and increased reporting on unidentified aerial phenomena (UAPs).
According to YouGov, 56% of Americans say aliens definitely (18%) or probably (38%) exist. That makes extraterrestrials far more plausible in the public mind than either Bigfoot or the chupacabra.
YouGov’s polling also finds that roughly half of Americans believe aliens have visited Earth. In addition, about one-third say UFO sightings are evidence of alien spacecraft, while others attribute them to natural phenomena, secret military technology, or optical illusions.
Demographic differences are notable. Younger Americans are generally more likely to believe in extraterrestrials than older cohorts, and men tend to express higher levels of belief than women.
Taken together, the data suggests that belief in aliens has moved well beyond the fringe. While skepticism remains, the idea that intelligent life exists somewhere beyond Earth is now a mainstream view in the United States.
Globally, belief varies widely. We previously mapped the countries that believe in aliens the most, showing that views differ significantly across regions and cultures.
Bigfoot: America’s Favorite Cryptid
Bigfoot, also known as Sasquatch, is a legendary ape-like creature said to inhabit forests in North America.
While 28% of Americans say Bigfoot probably or definitely exists, a larger share (60%) say it probably or definitely does not. Compared to aliens, belief in Bigfoot is far more polarized, with fewer “not sure” responses.
Despite the skepticism, Bigfoot remains deeply embedded in pop culture, particularly in the Pacific Northwest.
What Is the Chupacabra?
The chupacabra, which translates to “goat sucker” in Spanish, is a cryptid said to attack livestock, particularly in Latin America and the southern United States.
Only 16% of Americans believe it exists, while 60% say it likely or definitely does not. Notably, nearly a quarter (24%) say they are not sure, which is a higher uncertainty than for aliens or Bigfoot. This suggests that while the chupacabra is less widely believed, it remains a mysterious figure in American folklore.
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Mapped: Where Food Insecurity Is Highest, State by State
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Mapped: Where Food Insecurity Is Highest, State by State
See visuals like this from many other data creators on our Voronoi app. Download it for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.
Key Takeaways
Arkansas (19.4%), Kentucky (18.8%), and Louisiana (17.7%) report the highest shares of food-insecure households.
Texas (11.5 million households total) combines a high rate (17.6%) with a large population.
California, while closer to the national average (12.5%), has roughly 14 million food-insecure households.
In parts of the United States, nearly one in five households struggle to afford enough food.
The latest data from the U.S. Department of Agriculture (USDA) reveals stark geographic divides in food insecurity across the country. While the national average sits at 13.3%, several states—concentrated largely in the South—report rates far above that level.
This map breaks down where food insecurity is highest by state, highlighting the regional inequalities shaping access to basic necessities in America today.
Ranked: Food Insecurity Rates by State
For the analysis, the USDA surveyed 32,719 households between 2022 and 2024 on their level of food insecurity.
Food insecurity is considered as the lack of consistent access to enough nutritious food, driven by limited financial resources. The table below shows state averages over the period.
RankStateShare of HouseholdsAverage Number of Households
1Arkansas19.4%1.3M
2Kentucky18.8%1.8M
3Louisiana17.7%1.9M
4Texas17.6%11.5M
5Mississippi17.3%1.2M
6Oklahoma16.9%1.6M
7Wyoming15.6%0.2M
8Nevada15.0%1.3M
9Michigan14.7%4.2M
10Georgia14.6%4.3M
11New Mexico14.5%0.9M
12Ohio14.2%4.9M
13West Virginia14.1%0.7M
14New York14.0%7.9M
15Indiana13.7%2.8M
16South Carolina13.5%2.3M
17Florida13.3%9.3M
18Illinois13.3%5.1M
19Missouri13.3%2.6M
20Tennessee13.3%3.0M
21Arizona13.1%2.9M
22Alaska13.0%0.3M
23Maine12.9%0.6M
24Nebraska12.7%0.8M
25Idaho12.6%0.8M
26California12.5%14.0M
27Kansas12.5%1.2M
28Oregon12.5%1.7M
29Virginia12.4%3.5M
30Alabama12.1%2.1M
31Connecticut12.1%1.4M
32Wisconsin12.0%2.5M
33North Carolina11.8%4.4M
34Massachusetts11.7%2.8M
35Montana11.7%0.5M
36Maryland11.5%2.3M
37Utah11.5%1.2M
38Washington11.0%3.2M
39Pennsylvania10.9%5.3M
40Delaware10.8%0.4M
41Hawaii10.8%0.5M
42Iowa10.8%1.4M
43Rhode Island10.6%0.4M
44Colorado10.5%2.4M
45District of Columbia10.3%0.3M
46Minnesota9.9%2.3M
47New Jersey9.8%3.6M
48South Dakota9.5%0.4M
49Vermont9.4%0.3M
50New Hampshire9.1%0.6M
51North Dakota9.0%0.3M
Arkansas reports the highest rate at 19.4%, followed by Kentucky (18.8%), Louisiana (17.7%), Texas (17.6%), and Mississippi (17.3%).
Many of these states also have lower median household incomes, higher poverty rates, larger rural populations, and greater reliance on public assistance programs. This overlap suggests food insecurity is closely tied to broader structural economic conditions, rather than short-term fluctuations alone.
By contrast, states like North Dakota (9.0%), New Hampshire (9.1%), and Vermont (9.4%) report rates closer to one in 10 households. The result is a more than 10 percentage-point gap between the highest and lowest states.
Large States Shape the National Picture
While percentages tell one part of the story, population size tells another.
Texas, for example, combines a high food insecurity rate (17.6%) with more than 11 million households, meaning millions of families are affected.
California, with approximately 14 million households, reports a rate of 12.5%, yet still accounts for a substantial share of food-insecure households due to its size.
Learn More on the Voronoi App
To learn more about this topic, check out this graphic on the number of households living in poverty by state.
Mapped: The Countries With the Most McDonald’s Per Person
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Mapped: The Countries With the Most McDonald’s Per Person
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Key Takeaways
McDonald’s is found in 100 markets worldwide, but is easiest to find in Macau (56.8 locations per one million people), Saint Martin (43.2), and the United States (38.6).
Despite their similar populations, China has 10x the number of McDonald’s locations as India.
McDonald’s has had an unstoppable rise over the last six decades on its path to become the world’s most successful fast food chain, with locations across the world. But which countries have the most McDonald’s locations per person?
This world map highlights the classic burger chain’s worldwide presence by counting how many McDonald’s locations each country has per 1 million people. The data for this map comes from the company’s Restaurant Count by Market 2024 report.
Burger-lovers and shake aficionados can find the famed golden arches across the world, albeit with relatively more ease in high-density markets like Australia, Canada, Macau, and the United States.
McDonald’s Locations Per Person, by Country
Among large countries, the U.S. is a natural McDonald’s hub, hosting 38.6 locations for each million inhabitants. This is third only to the small Chinese special administrative region of Macau (56.8) and the Caribbean island of St. Marten (43.2).
This data table below demonstrates how many McDonald’s each country hosts per million citizens:
CountryMcDonald's locations per one million people
Macau56.8
St. Maarten43.2
United States (Includes Cuba, Guam, and Saipan)38.6
Australia (Includes American Samoa, Fiji, New Caledonia, Tahiti, and Western Samoa)37.2
Canada36.1
Virgin Islands34.8
Hong Kong34.6
New Zealand32.5
Curacao32.1
Puerto Rico29.3
Aruba27.8
Martinique27.8
Qatar27.6
Singapore25.2
Japan24.1
Guadeloupe23.4
France (Includes Monaco)23.2
Israel23.1
Austria22.4
United Kingdom (Includes Isle of Man, Jersey, Northern Ireland, Scotland, and Wales)21.2
Bahrain20.8
Switzerland (Includes Liechtenstein)20.3
Reunion Island20.1
Portugal19.5
United Arab Emirates19.1
Denmark18.9
Sweden18.8
Kuwait18.6
Panama17.9
Taiwan17.8
Luxembourg17.7
Ireland17.6
Cyprus16.9
Germany16.4
Poland15.9
Malta15.8
Norway15.3
Costa Rica14.8
Netherlands14.6
Finland14.4
Mauritius13.6
Slovenia13.2
Spain (Includes Andorra and Gibraltar)13.0
Brunei13.0
Italy12.8
Saudi Arabia12.5
Croatia12.2
Hungary12.0
Czech Republic11.7
Malaysia10.5
French Guiana10.1
Uruguay10.0
Belgium10.0
Slovakia8.7
Estonia8.0
South Korea7.7
Latvia7.5
Bahamas7.5
Philippines6.8
Georgia6.8
Bulgaria6.7
Oman6.6
South Africa6.3
Guatemala6.2
Lithuania6.2
Chile5.7
Romania5.6
Brazil5.5
Serbia5.5
Argentina4.9
Mainland China4.8
Moldova4.6
Jordan4.0
Lebanon4.0
El Salvador3.9
Paraguay3.9
Greece3.4
Thailand3.3
Ukraine3.3
Turkey3.2
Suriname3.2
Trinidad/Tobago2.9
Mexico2.9
Azerbaijan2.8
Venezuela2.8
Dominican Republic2.0
Morocco2.0
Ecuador1.9
Egypt1.6
Colombia1.4
Nicaragua1.3
Honduras1.2
Indonesia1.1
Peru0.9
India0.5
Vietnam0.4
Pakistan0.3
Macau’s neighbor, Hong Kong, is also home to many McDonald’s locations in a short area, while Australia, Canada, and New Zealand can all boast having at least 32 locations per each million of their inhabitants.
Asia’s Divide in McDonald’s Locations
McDonald’s has clearly had far better success penetrating the markets of East Asia over South Asia. For proof of this, look only to Asia’s two giants, China and India.
Despite having a similar population of over 1.4 billion people, China today hosts nearly 5 McDonald’s locations per each million of its citizens, a 10x multiplier over neighboring India’s mere 0.5 figure.
Even slightly smaller neighboring countries hold true to this division of success. Japan is home to the third-most McDonald’s locations worldwide, and features 24.1 sites per million people, while Pakistan is the country with the fewest per-capita locations in the world, at just 0.3.
Regions with the Most Market Potential for McDonald’s
While McDonald’s has found significant successes across Eurasia and the Americas, Africa and the Middle East serve as the prime markets for future expansion.
Africa’s largest country, Egypt, has merely 1.6 per-capita locations, slightly behind Morocco (2) and South Africa (6.3). These three countries are the only ones to host the golden arches anywhere on the continent, over 30 years after the company made its African market entry.
Meanwhile, Qatar (27.6) and Israel (23.1) hold the most per-capita locations in the Middle East, and Kuwait (10.6) is home to the chain’s largest Middle Eastern location. For McDonald’s, there remains ample room for growth in the coming years.
Learn More on the Voronoi App
If you enjoyed today’s post, check out The 50 Largest Cities in Africa by Population on Voronoi.
Visualizing Arctic Ice Loss Since 1980, Compared to Countries
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Arctic Ice Loss Since 1980, Compared to Countries
See visuals like this from many other data creators on our Voronoi app. Download it for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.
Key Takeaways
The Arctic has lost 1.1 million square miles of sea ice since 1980, roughly the size of Argentina.
At current trends, it could see nearly ice-free summers by 2050.
Since 1980, the Arctic’s summer sea ice has shrunk at a rate of 12.2% per decade, dramatically reshaping the polar region and opening new geopolitical and shipping dynamics.
This graphic shows the size of Arctic ice loss since 1980 compared to country land masses, based on data from NASA and the World Bank Group.
With such significant amounts of ice loss, these changes to the Arctic are opening up global shipping routes, which can be half as long as traditional routes.
How Much Arctic Ice Has Melted?
Arctic sea ice fluctuates over the course of the year, with the most shipping activity occurring when it is at its smallest point, known as its annual minimum ice extent.
This annual minimum ice extent has shrunk the equivalent of tens of thousands of square miles each year. Below, we compare the change in minimum ice extent from 1980 to 2025 to the world’s largest countries by land area:
CountryLand Area (Millions of Square Miles)
Russia6.2
China3.6
U.S.3.5
Canada3.4
Brazil3.2
Australia3.0
India1.2
Arctic Ice Loss (1980-2025)1.1
Argentina1.1
Kazakhstan1.0
Algeria0.9
DRC0.9
Saudi Arabia0.8
Mexico0.8
Indonesia0.7
Sudan0.7
In 1980, the Arctic’s minimum ice extent was 1.1 million square miles (2.8 million km²) larger than it was in 2025.
Given this rapid ice melt, the Arctic region is projected to be “ice-free” in the summer as soon as 2050. Not only has Greenland been under intense focus, but the Arctic region will become increasingly important for shipping, security, and economic reasons.
How Global Powers are Preparing for an Ice-Free Arctic
Today, multiple countries including China, Russia, Europe, and the U.S. have developed national strategies for the Arctic region given its growing geopolitical importance.
In 2018, China introduced the idea of a “Polar Silk Road,” centered on the Northern Sea Route. This Arctic passage could reduce travel time by nearly 20 days compared to the Suez Canal and is about 40% shorter for ships traveling between China and Northern Europe.
Moreover, the Arctic holds an estimated 412 billion barrels of undiscovered oil. Greenland’s rare earth reserves alone are estimated to be 1.5 million metric tons, the eighth-highest in the world. While there has been no rare earth production, melting ice could present huge opportunities should local regulations ease.
Learn More on the Voronoi App
To learn more about this topic, check out this map explainer on the territory of Greenland.
Visualized: Exploring the Ocean’s Future
Published 2 hours ago on February 21, 2026
By Cody Good
Graphics & Design
Jennifer West
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The following content is sponsored by Dubai Future Forum
Beyond the Depths: Exploring the Ocean’s Future
Key Takeaways
Exploring the ocean is key to identifying the 0% of marine species estimated yet to be discovered, holding immense scientific and commercial potential.
Ocean investment opportunities are projected to exceed $3 trillion as new technologies and solutions emerge.
The ocean has long been a frontier of mystery and untapped promise. Covering over 70% of the planet, it plays a critical role in climate regulation, biodiversity, and global trade. Despite this, much of the ocean remains unexplored, creating both risks and opportunities as humanity looks to the future.
In partnership with Dubai Future Forum, this graphic shows how exploration, investment, and innovation are converging to transform our understanding of the ocean.
It’s one of four dimensions—Ocean, Mind, Space, and Land—within the Forum’s larger theme, Exploring the Unknown. The data comes from these sources:
Seabed 2030
World Register of Marine Species
OECD
UNCTAD
Morgan Stanley
The Global 50 Report by Dubai Future Foundation.
Exploring the Ocean
The ocean’s seafloor remains largely uncharted, with just over 27% mapped to modern standards. Strikingly, the remaining 73% of unmapped seafloor is larger than all Earth’s landmass combined.
Without detailed ocean maps, humanity remains blind to features that may influence everything from tectonic activity to biodiversity hotspots.
Biodiversity: Discovering Ocean Life
Every year, ocean scientists identify and catalog thousands of new marine species, yet they estimate that 91% of ocean life remains unidentified.
Here is a table that shows known cumulative discovered marine species over time:
YearCumulative Discovered Marine Species
17601,477
17803,646
18008,094
182015,299
184030,492
186059,687
188088,253
1900121,236
1920157,149
1940188,913
1960213,705
1980252,738
2000293,526
2020338,584
2025347,360
Each discovery made while exploring the oceans adds to our scientific understanding and may unlock potential for breakthroughs in medicine and technology.
The Blue Economy’s Rising Tide
Financial commitments to ocean-related initiatives doubled between 2010 and 2023. Morgan Stanley projects even greater potential for the future with over $3 trillion in ocean investment opportunities to add to the global economy.
Here is a table that shows ocean funding by sector, comparing 2010 to 2023:
Sector2010 ($ Millions)2023 ($ Millions)
Maritime Transport1,0522,418
Marine Fisheries & Other Industries392743
Marine Protection372990
Other115515
Health & Rehabilitation400101
Ocean Policy & Management180138
Energy & Minerals5138
The largest opportunity is in decarbonizing marine transportation valued at $1,200B, followed by marine ecosystem protection ($1,100B), renewable energy ($840B), and sustainable aquaculture ($225B).
Looking Ahead: The Future of Oceans
The ocean’s future is being driven by rapid advances in pollution remediation and energy developments.
To continue exploring the ocean and its biggest emerging opportunities shaping the future with the Dubai Future Foundation’s Global 50 report.
Learn more about the Dubai Future Forum.
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Mapped: The Share of Each Country That Lives in Its Largest City
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Mapped: The Share of Each Country That Lives in Its Largest City
See visuals like this from many other data creators on our Voronoi app. Download it for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.
Key Takeaways
In some countries, nearly 100% of urban residents live in a single city.
In giants like the U.S., China, and India, less than 10% live in their largest metro.
Globally, just 16% of urban residents live in their country’s biggest city.
In some nations, one city towers over the rest. In others, populations are spread across multiple large metros with no single dominant hub.
This map shows the share of each country’s urban population living in its largest city, revealing where megacities dominate and where people are far more dispersed. The data for this map comes from the World Bank.
Globally, only 16% of urban residents live in their country’s largest city, suggesting that in most places, population and economic activity are distributed across several urban centers rather than concentrated in just one.
The Most Heavily-Concentrated Countries Worldwide
The city-state of Singapore, alongside the two Chinese special administrative regions of Hong Kong and Macau, top the list, while giants like China, India, Russia, and the United States see less than 10% of their population reside in their largest cities.
This data table below shows each country’s share of urban population living in the country’s largest city:
CountryShare of urban population living in the country's largest city
Hong Kong SAR, China100%
Macao SAR, China100%
Singapore100%
Eritrea91%
Puerto Rico (U.S.)81%
Paraguay74%
Trinidad and Tobago74%
Djibouti71%
Guinea-Bissau68%
Kuwait68%
Mongolia68%
Panama68%
Congo, Rep.67%
Liberia56%
Armenia55%
Uruguay55%
North Macedonia54%
Burkina Faso50%
Mauritania50%
Israel49%
Togo49%
Georgia48%
Latvia48%
Estonia47%
Haiti47%
Bahrain46%
Lebanon46%
Moldova46%
Portugal46%
Egypt, Arab Rep.45%
Kyrgyz Republic45%
Afghanistan43%
Dominican Republic43%
Bangladesh42%
Central African Republic42%
Azerbaijan41%
Chile40%
Oman40%
Guinea39%
Madagascar39%
Mali39%
Peru39%
Albania38%
Gabon38%
Greece38%
New Zealand38%
Argentina37%
Burundi37%
Equatorial Guinea37%
Ireland37%
Sudan37%
Tajikistan37%
Angola36%
Costa Rica36%
Jamaica36%
Malawi36%
Congo, Dem. Rep.35%
Senegal35%
Cote d'Ivoire34%
Myanmar34%
Sierra Leone34%
Serbia34%
Zambia34%
Cambodia33%
Tanzania33%
United Arab Emirates32%
Finland32%
Japan32%
Malaysia32%
Namibia32%
Austria31%
Guatemala31%
Croatia31%
Kenya31%
Niger31%
Rwanda30%
Chad30%
Belarus29%
Cameroon29%
Qatar29%
Tunisia29%
Colombia28%
Ecuador28%
Gambia, The28%
Bulgaria27%
Lithuania27%
Nicaragua27%
Denmark26%
Hungary26%
Papua New Guinea26%
Saudi Arabia26%
Somalia, Fed. Rep.26%
Turkmenistan26%
Uganda26%
Cuba25%
Honduras25%
Iraq25%
Thailand25%
Viet Nam25%
Korea, Rep.24%
Lao PDR24%
Norway24%
El Salvador24%
Zimbabwe24%
Philippines23%
Yemen, Rep.23%
Australia22%
Bolivia22%
Mexico22%
Belgium21%
Bosnia and Herzegovina21%
France21%
Jordan21%
Turkiye21%
Canada19%
Switzerland19%
Ghana19%
Korea, Dem. People's Rep.19%
South Sudan19%
Ethiopia18%
Libya18%
Pakistan18%
Romania18%
Sweden18%
Benin17%
Czechia17%
Spain17%
United Kingdom17%
Morocco17%
West Bank and Gaza17%
European Union16%
Kazakhstan16%
South Africa16%
Mozambique15%
Slovak Republic15%
Syrian Arab Republic15%
Iran, Islamic Rep.14%
Sri Lanka14%
Uzbekistan14%
Brazil12%
Russian Federation12%
Venezuela, RB12%
Italy11%
Nigeria11%
Ukraine11%
Algeria8%
Nepal8%
Poland8%
Indonesia7%
India7%
Netherlands7%
United States7%
Germany5%
China3%
Even within similar regions, there are clear gaps. Roughly a fifth of Britons, Spaniards, and Frenchmen reside in their national capitals and largest cities; in contrast, Germans and Poles are far more spread out across their countries.
Across the 27-member European Union, no subregion is more concentrated than the Baltic states: Estonia and Latvia lead the continent with 47-48% of their populations residing in the national capitals of Tallinn and Riga.
Disparate Population Distribution in the Americas
North and South America are home to some of the world’s largest cities, from São Paulo and Mexico City to New York and Toronto. Yet in each of these cases the sprawling metropolises tend to actually hold a smaller share of the citizenry than smaller capital cities such as Lima, Asuncion, or Montevideo.
For many countries in the region, such as Argentina or Colombia, post-independence history has been fraught with concerns over centralization versus decentralization.
What are Primate Cities?
The term “primate city” was first coined in 1939 by geographer Mark Jefferson to describe any city that is “at least twice as large as the next largest city and more than twice as significant” within a given country.
Modern capitals such as Algiers, Paris, Bangkok, and Buenos Aires are classic primate city case studies, serving as the economic, demographic, and social centers of their respective countries.
Countries with primate cities often see a heavy concentration of economic output, infrastructure, and internal migration in one metropolitan area. By contrast, federal systems such as Brazil, India, and the United States tend to develop multiple large cities that balance national influence.
Learn More on the Voronoi App
If you enjoyed today’s post, check out The 50 Largest Cities in Africa by Population on Voronoi.
Ranked: The World’s 10 Deadliest Viruses by Fatality Rate
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Ranked: The World’s 10 Deadliest Viruses by Fatality Rate
See visuals like this from many other data creators on our Voronoi app. Download it for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.
Key Takeaways
Rabies has a near-100% fatality rate once symptoms develop, though infections are largely preventable with early treatment.
Most of the world’s deadliest viruses originate in animals, including bats, rodents, camels, and birds.
Some viruses infect millions but kill relatively few. Others spread less widely yet prove far more lethal once contracted.
This graphic ranks 10 of the world’s deadliest viruses by case fatality rate: the percentage of infected people who die from the disease.
Rabies tops the list, with a fatality rate approaching 100% once symptoms appear.
The data for this visualization comes from various sources such as the World Health Organization (WHO), the BC Centre for Disease Control, the Australian Government, the European Centre for Disease Prevention and Control, Reuters, and the UK Government.
Rabies: Almost Universally Fatal
The virus kills an estimated 59,000 people per year, primarily in Africa and Southeast Asia. The virus spreads primarily through the saliva of infected animals, especially dogs.
Despite being vaccine-preventable, rabies still causes thousands of deaths, mainly in Africa and Southeast Asia. Limited access to post-exposure treatment is a key reason for its continued toll.
VirusFatality RateHuman Death Toll
Rabies~100%59,000 per year
B Virus (Herpes B)80%21 total deaths
Lujo Virus80%4 total deaths
Nipah Virus40–75%600 total deaths
Hendra Virus57%4 total deaths
Ebola50%15,000+ total deaths
Marburg Virus50%470+ total deaths
H5N1 (Avian Influenza)50%477 total deaths
Crimean-Congo Hemorrhagic Fever (CCHF)10–40%1,000–2,000 per year
MERS-CoV36%959 total deaths
Hemorrhagic Fevers: Ebola, Marburg, and CCHF
Several of the viruses on the list cause viral hemorrhagic fevers, including Ebola, Marburg, and Crimean-Congo hemorrhagic fever (CCHF). These diseases often lead to severe internal bleeding and organ failure.
Ebola and Marburg both have fatality rates around 50%, with outbreaks concentrated in Central and Sub-Saharan Africa. The 2014–2016 West Africa Ebola outbreak alone killed over 11,000 people and brought global attention to epidemic preparedness.
CCHF, transmitted primarily through ticks and livestock, is more geographically widespread across Eurasia and Africa. While its fatality rate ranges from 10–40%, it causes an estimated 1,000–2,000 deaths annually.
Zoonotic Spillover: From Bats to Camels
Most of the viruses ranked here originate in animals. Fruit bats are linked to Nipah and Marburg viruses, while rodents are associated with Lujo virus. Camels are the primary reservoir for MERS-CoV, first identified in Saudi Arabia in 2012.
Avian influenza (H5N1) spreads from infected birds and has a roughly 50% fatality rate among confirmed human cases—far higher than seasonal flu. Although human infections remain relatively rare, the high case fatality rate has kept global health authorities on alert.
Learn More on the Voronoi App
If you enjoyed today’s post, check out Countries With the Biggest Gains in Life Expectancy on Voronoi, the new app from Visual Capitalist.
Charted: South Korea’s Rise to the World’s Oldest Society, 1950–2100
Charted: South Korea’s Aging Population
Key Takeaways
Over 150 years, South Korea’s age structure shifts from youth-heavy to senior-dominated.
By 2100, nearly 40% of the population is projected to be 65 or older.
In 1950, South Korea’s population was overwhelmingly young. By 2100, nearly four in ten residents are projected to be 65 or older.
This visualization, created by Oscar Leo of DataCanvas using data from the UN World Population Prospects 2024, shows how South Korea’s age distribution evolves year by year across a 150-year span.
The result is one of the most dramatic demographic transformations ever recorded in a developed economy.
Age Distribution by Year (1950-2100P)
Below we can see how the population distribution changes each year between 1950 and the 2100 projection.
Year0–910–1920–2930–3940–4950–5960–6970–7980–89
195029.9%22.3%15.1%12.0%9.1%6.5%3.6%1.1%0.3%
195129.5%23.1%14.9%11.9%9.1%6.4%3.7%1.1%0.3%
195229.1%23.7%14.9%11.9%9.2%6.2%3.7%1.1%0.2%
195328.8%23.9%14.9%12.0%9.2%6.1%3.7%1.1%0.2%
195428.8%23.8%15.1%12.1%9.2%6.0%3.8%1.1%0.2%
195528.9%23.4%15.4%12.1%9.2%5.9%3.8%1.2%0.1%
195629.1%23.1%15.7%12.1%9.1%5.8%3.8%1.2%0.1%
195729.3%22.6%16.1%12.0%9.0%5.8%3.7%1.3%0.2%
195829.7%21.9%16.6%11.9%8.9%5.8%3.7%1.3%0.2%
195930.3%21.2%16.9%11.8%8.7%5.8%3.7%1.4%0.2%
196030.8%20.6%17.2%11.7%8.6%5.9%3.6%1.4%0.2%
196131.4%20.1%17.3%11.6%8.6%5.9%3.5%1.5%0.2%
196231.9%19.8%17.3%11.5%8.5%5.9%3.5%1.5%0.2%
196332.1%19.8%17.1%11.4%8.5%5.9%3.4%1.6%0.2%
196432.2%20.0%16.7%11.5%8.5%5.9%3.3%1.6%0.2%
196531.9%20.6%16.3%11.7%8.4%5.9%3.3%1.6%0.3%
196631.4%21.3%16.0%11.9%8.4%5.9%3.3%1.5%0.3%
196730.9%21.8%15.8%12.1%8.3%5.9%3.4%1.5%0.3%
196830.2%22.4%15.6%12.3%8.4%5.9%3.4%1.6%0.3%
196929.3%23.1%15.5%12.5%8.4%5.8%3.5%1.6%0.3%
197028.5%23.8%15.4%12.6%8.5%5.8%3.5%1.6%0.3%
197127.7%24.4%15.2%12.7%8.5%5.8%3.5%1.6%0.4%
197227.1%24.7%15.2%12.9%8.6%5.9%3.5%1.6%0.4%
197326.5%25.0%15.3%13.0%8.7%6.0%3.5%1.6%0.4%
197426.0%25.0%15.6%12.9%8.9%6.0%3.5%1.6%0.4%
197525.4%24.9%16.1%12.7%9.1%6.1%3.5%1.6%0.5%
197624.8%24.7%16.6%12.6%9.4%6.2%3.6%1.7%0.5%
197724.3%24.5%17.0%12.6%9.6%6.2%3.7%1.7%0.5%
197823.7%24.1%17.6%12.6%9.9%6.3%3.7%1.7%0.5%
197923.0%23.6%18.4%12.6%10.1%6.4%3.8%1.7%0.5%
198022.2%23.3%19.1%12.6%10.3%6.5%3.8%1.7%0.5%
198121.5%23.0%19.7%12.6%10.5%6.5%3.9%1.8%0.5%
198220.9%22.8%20.2%12.7%10.6%6.6%4.0%1.8%0.5%
198320.2%22.5%20.6%12.8%10.7%6.7%4.0%1.9%0.5%
198419.7%22.1%20.9%13.2%10.6%6.9%4.1%1.9%0.5%
198519.1%21.8%21.0%13.8%10.5%7.1%4.2%2.0%0.5%
198618.6%21.5%20.8%14.4%10.5%7.4%4.3%2.0%0.5%
198718.2%21.1%20.7%14.9%10.6%7.6%4.3%2.1%0.6%
198817.7%20.6%20.6%15.4%10.6%7.8%4.4%2.1%0.6%
198917.3%20.0%20.6%16.1%10.7%8.0%4.5%2.2%0.6%
199016.7%19.5%20.5%16.9%10.7%8.2%4.6%2.2%0.6%
199116.0%19.2%20.3%17.6%10.8%8.4%4.8%2.3%0.7%
199215.4%18.8%20.0%18.2%10.9%8.7%4.9%2.4%0.7%
199315.0%18.4%19.8%18.6%11.2%8.8%5.1%2.5%0.7%
199414.8%17.8%19.6%18.9%11.5%8.9%5.3%2.6%0.8%
199514.7%17.2%19.4%18.9%12.1%8.8%5.5%2.7%0.8%
199614.6%16.7%19.1%18.8%12.6%8.8%5.8%2.7%0.9%
199714.6%16.3%18.7%18.7%13.1%8.9%6.0%2.8%0.9%
199814.6%15.9%18.3%18.5%13.6%9.1%6.3%2.9%0.9%
199914.5%15.4%17.9%18.3%14.2%9.2%6.5%3.1%1.0%
200014.3%14.9%17.7%18.2%14.8%9.2%6.7%3.2%1.0%
200114.1%14.4%17.5%18.0%15.5%9.3%6.9%3.3%1.1%
200213.7%14.0%17.1%18.0%16.0%9.4%7.2%3.5%1.1%
200313.1%13.9%16.8%17.8%16.5%9.7%7.3%3.7%1.2%
200412.6%13.8%16.4%17.7%16.8%10.0%7.4%3.9%1.3%
200512.0%13.8%16.1%17.6%17.0%10.6%7.5%4.1%1.4%
200611.4%13.9%15.8%17.4%17.0%11.1%7.5%4.4%1.5%
200710.9%13.9%15.4%17.2%17.1%11.6%7.7%4.6%1.6%
200810.4%13.9%15.0%17.0%17.1%12.1%7.9%4.9%1.7%
200910.0%13.9%14.6%16.7%17.1%12.7%8.0%5.1%1.8%
20109.7%13.8%14.2%16.5%17.1%13.3%8.1%5.3%1.9%
20119.5%13.5%13.9%16.2%17.1%14.0%8.3%5.5%2.1%
20129.2%13.0%13.7%16.0%17.1%14.6%8.5%5.7%2.2%
20139.1%12.4%13.5%15.8%17.1%15.2%8.7%5.9%2.4%
20149.0%11.8%13.3%15.5%17.1%15.7%9.0%6.0%2.5%
20158.9%11.2%13.3%15.2%17.1%16.0%9.5%6.1%2.7%
20168.8%10.7%13.3%15.0%16.9%16.2%10.1%6.2%2.9%
20178.6%10.3%13.4%14.7%16.7%16.3%10.6%6.3%3.1%
20188.3%9.9%13.5%14.4%16.4%16.4%11.2%6.5%3.3%
20198.1%9.6%13.5%14.1%16.1%16.6%11.7%6.7%3.6%
20207.7%9.3%13.5%13.8%15.9%16.6%12.5%6.9%3.8%
20217.4%9.0%13.4%13.5%15.8%16.5%13.3%7.1%4.0%
20226.9%8.9%13.1%13.3%15.6%16.6%14.0%7.2%4.3%
20236.5%8.9%12.7%13.3%15.5%16.6%14.5%7.5%4.5%
20246.1%8.9%12.3%13.3%15.2%16.7%14.9%7.8%4.7%
20255.8%8.9%11.9%13.4%14.9%16.7%15.2%8.3%4.9%
20265.5%8.9%11.5%13.5%14.7%16.6%15.4%8.9%5.1%
20275.3%8.7%11.2%13.6%14.5%16.4%15.6%9.4%5.3%
20285.1%8.5%10.9%13.7%14.3%16.2%15.8%9.9%5.5%
20295.0%8.3%10.7%13.7%14.1%16.0%16.0%10.5%5.8%
20305.0%8.0%10.4%13.6%13.8%15.8%16.0%11.2%6.0%
20315.0%7.6%10.3%13.5%13.5%15.7%16.1%12.0%6.2%
20325.0%7.2%10.3%13.2%13.4%15.6%16.2%12.6%6.5%
20335.1%6.8%10.3%12.8%13.3%15.5%16.3%13.1%6.8%
20345.1%6.5%10.3%12.4%13.3%15.3%16.4%13.5%7.2%
20355.1%6.2%10.3%12.0%13.5%15.1%16.5%13.8%7.6%
20365.1%5.8%10.3%11.6%13.6%14.9%16.4%14.1%8.1%
20375.1%5.6%10.2%11.3%13.7%14.8%16.3%14.3%8.7%
20385.1%5.5%10.0%11.0%13.8%14.6%16.1%14.6%9.2%
20395.1%5.4%9.8%10.8%13.9%14.4%16.0%14.8%9.8%
20405.1%5.4%9.5%10.6%13.9%14.2%15.9%15.0%10.5%
20415.1%5.4%9.1%10.5%13.8%13.9%15.9%15.1%11.2%
20425.0%5.4%8.7%10.5%13.5%13.8%15.8%15.3%11.9%
20435.0%5.5%8.3%10.5%13.1%13.8%15.8%15.5%12.5%
20445.0%5.5%8.0%10.5%12.8%13.9%15.6%15.7%13.0%
20455.1%5.6%7.6%10.6%12.4%14.1%15.4%15.8%13.4%
20465.1%5.6%7.3%10.6%12.0%14.3%15.3%15.8%13.9%
20475.1%5.6%7.1%10.5%11.7%14.5%15.3%15.8%14.4%
20485.1%5.6%7.0%10.4%11.5%14.6%15.2%15.7%15.0%
20495.1%5.6%6.9%10.1%11.3%14.7%15.0%15.6%15.5%
20505.1%5.6%6.9%9.9%11.1%14.8%14.8%15.7%16.1%
20515.1%5.6%7.0%9.5%11.0%14.7%14.7%15.7%16.7%
20525.1%5.6%7.0%9.1%11.0%14.5%14.6%15.8%17.2%
20535.1%5.7%7.1%8.7%11.1%14.2%14.6%15.8%17.7%
20545.0%5.7%7.2%8.4%11.2%13.8%14.8%15.7%18.1%
20554.9%5.7%7.3%8.1%11.3%13.5%15.1%15.7%18.5%
20564.9%5.8%7.3%7.8%11.4%13.1%15.4%15.6%18.7%
20574.8%5.8%7.4%7.5%11.4%12.8%15.7%15.6%19.0%
20584.7%5.9%7.4%7.4%11.2%12.6%15.9%15.6%19.2%
20594.6%5.9%7.4%7.4%11.0%12.5%16.1%15.5%19.5%
20604.6%5.9%7.4%7.4%10.8%12.3%16.2%15.4%19.9%
20614.5%5.9%7.5%7.5%10.4%12.2%16.3%15.3%20.4%
20624.5%5.9%7.5%7.6%10.0%12.4%16.0%15.3%20.8%
20634.5%5.9%7.5%7.7%9.6%12.5%15.7%15.5%21.1%
20644.5%5.8%7.6%7.8%9.2%12.6%15.4%15.7%21.4%
20654.5%5.8%7.7%7.9%8.8%12.8%15.0%16.1%21.5%
20664.6%5.7%7.7%8.0%8.5%12.9%14.7%16.4%21.6%
20674.6%5.6%7.8%8.0%8.3%12.9%14.4%16.8%21.7%
20684.7%5.5%7.9%8.1%8.1%12.7%14.2%17.1%21.8%
20694.7%5.4%7.9%8.1%8.1%12.5%14.0%17.3%21.9%
20704.8%5.4%8.0%8.1%8.1%12.2%13.9%17.5%22.1%
20714.8%5.3%8.0%8.2%8.2%11.8%13.8%17.5%22.3%
20724.9%5.3%8.0%8.2%8.3%11.4%14.0%17.3%22.7%
20735.0%5.3%7.9%8.3%8.5%10.9%14.1%17.0%23.1%
20745.0%5.3%7.9%8.3%8.6%10.5%14.3%16.7%23.5%
20755.1%5.3%7.8%8.4%8.7%10.0%14.4%16.3%23.9%
20765.1%5.4%7.7%8.5%8.8%9.7%14.6%15.9%24.3%
20775.2%5.4%7.6%8.6%8.9%9.4%14.6%15.7%24.7%
20785.3%5.5%7.5%8.7%8.9%9.3%14.4%15.5%25.0%
20795.3%5.6%7.4%8.7%9.0%9.2%14.2%15.3%25.3%
20805.4%5.6%7.3%8.8%9.0%9.2%13.9%15.2%25.6%
20815.4%5.7%7.3%8.8%9.1%9.4%13.4%15.1%25.9%
20825.5%5.8%7.2%8.8%9.1%9.5%12.9%15.3%26.0%
20835.5%5.9%7.2%8.7%9.2%9.6%12.4%15.5%26.0%
20845.5%5.9%7.2%8.6%9.3%9.8%11.9%15.7%26.0%
20855.5%6.0%7.3%8.6%9.4%9.9%11.4%15.9%26.0%
20865.6%6.1%7.3%8.4%9.4%10.1%11.0%16.1%26.0%
20875.6%6.1%7.4%8.3%9.5%10.1%10.7%16.1%26.1%
20885.6%6.2%7.5%8.2%9.6%10.2%10.5%15.9%26.2%
20895.5%6.3%7.6%8.1%9.7%10.3%10.5%15.7%26.3%
20905.5%6.3%7.6%8.0%9.8%10.3%10.6%15.4%26.5%
20915.5%6.4%7.7%8.0%9.8%10.4%10.7%14.9%26.7%
20925.5%6.5%7.8%7.9%9.8%10.4%10.9%14.3%26.9%
20935.5%6.5%7.9%7.9%9.7%10.5%11.1%13.7%27.1%
20945.5%6.5%8.0%7.9%9.7%10.6%11.3%13.2%27.3%
20955.5%6.6%8.1%8.0%9.6%10.7%11.4%12.7%27.5%
20965.5%6.6%8.1%8.0%9.4%10.8%11.5%12.3%27.7%
20975.5%6.6%8.2%8.1%9.3%11.0%11.6%11.9%27.8%
20985.5%6.6%8.3%8.2%9.1%11.1%11.7%11.8%27.7%
20995.5%6.5%8.4%8.3%9.0%11.1%11.8%11.7%27.6%
21005.6%6.5%8.5%8.4%8.9%11.2%11.8%11.8%27.3%
The shift is stark. In 1960, children aged 0–9 made up over 30% of the population.
By 2100, that figure is projected to fall to just 5.5%, while those aged 80 and over surge into double digits.
From Youthful Boom to Demographic Bust
In the decades following the Korean War, South Korea had a classic population pyramid: a wide base of young people and relatively few elderly citizens. In 1970, nearly 29% of the population was under 10 years old.
Fast forward to today, and the structure has inverted. Persistently low fertility—frequently cited as the lowest in the world—has led to a shrinking base of young people. This trend is frequently described as a “demographic meltdown,” driven by high housing costs, intense education pressures, and shifting social norms.
An Economy Growing Older
By 2050, people aged 60 and older are projected to account for roughly 40% of the population. The 80–89 and 90+ cohorts grow especially quickly in the second half of the century.
This has major economic implications. A smaller working-age population must support a rapidly expanding elderly population, pushing up the old-age dependency ratio. As we’ve explored in our breakdown of the top economies by old-age dependency, countries with aging populations face rising pension and healthcare burdens, as well as slower potential growth.
Labor shortages, fiscal strain, and intergenerational inequality are likely to intensify unless offset by higher productivity, immigration, or policy reform.
A Small Baby Bump: A Turning Point?
After years of record-low fertility, South Korea has recently seen a modest increase in births. While still far below replacement level, even a small shift is notable after such a prolonged decline.
Whether this “baby bump” signals a sustained recovery or merely a temporary fluctuation remains to be seen. For now, long-term projections continue to point toward a much older, and smaller, South Korea by the end of the century.
Mapped: The U.S. Cities at Risk of Sinking
Published 26 minutes ago on February 20, 2026
By Julia Wendling
Graphics & Design
Athul Alexander
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Mapped: The U.S. Cities at Risk of Sinking
Key Takeaways
25 out of the top 28 major U.S. cities are experiencing land subsidence, creating hidden but growing property risk.
Houston, Fort Worth, Dallas, New York, and Chicago are all sinking at a rate of over 2 mm per year.
Even slow, millimeter scale sinking can drive long term infrastructure damage and insurability challenges.
Across the United States, the ground beneath many major cities is gradually subsiding. Research published in Nature Cities shows that 25 of the 28 largest U.S. urban areas are sinking, a trend with serious implications for infrastructure durability, flood risk, and long-term resilience.
Created in partnership with Inigo, this visualization maps the major U.S. cities most at risk of sinking.
Why U.S. Cities Are Slowly Sinking
In coastal cities such as San Diego and New York, subsidence amplifies sea level rise and leaves communities more exposed to storm surge and tidal flooding. Inland cities face different pressures. In places like Houston, Phoenix, and Denver, groundwater extraction and soil compaction accelerate vertical land movement.
Because subsidence happens gradually, it often goes unnoticed. Still, Houston, Fort Worth, Dallas, New York, and Chicago are all sinking by more than 2.0 mm per year. Even small drops in elevation can strain pipelines, damage roads, and weaken building foundations.
CityStateVertical land movement (mm/year)
HoustonTexas-5.2
Fort WorthTexas-4.4
DallasTexas-3.8
New YorkNew York-2.4
ChicagoIllinois-2.3
ColumbusOhio-1.9
SeattleWashington-1.8
DetroitMichigan-1.7
DenverColorado-1.7
CharlotteNorth Carolina-1.5
IndianapolisIndiana-1.4
WashingtonDistrict of Columbia-1.3
Oklahoma CityOklahoma-1.3
NashvilleTennessee-1.1
San AntonioTexas-1.1
San DiegoCalifornia-1.1
PortlandOregon-0.9
San FranciscoCalifornia-0.9
PhoenixArizona-0.8
Las VegasNevada-0.8
AustinTexas-0.8
El PasoTexas-0.8
PhiladelphiaPennsylvania-0.7
Los AngelesCalifornia-0.7
BostonMassachusetts-0.5
Many other major cities, including Seattle, Detroit, and Denver, are sinking at rates between 1.5 and 2.0 mm per year.
A Growing Blind Spot in Property Risk
Although subtle, subsidence affects millions of people and tens of thousands of buildings, many of which sit in high damage risk zones. As elevation changes accumulate, mitigation and adaptation costs rise, often after damage has already occurred.
For property risk professionals, this data highlights an important reality. Climate risk does not move in only one direction. In some cities, the threat is not just rising water levels, but the ground itself sinking beneath critical infrastructure and assets.
Explore the data behind emerging global property risks.
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Ranked: The Companies Holding the Most Cash in the World
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Ranked: The Companies Holding the Most Cash in the World
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Key Takeaways
Financials dominate the list—13 of the top 50 are financial services firms.
Berkshire Hathaway is the clear outlier, sitting on a record $382B, the largest cash position in its history—more than Microsoft, Alphabet, and Amazon combined.
The cash that companies hold is important for paying employees, funding operations, and as a measure of financial health.
This chart shows the 50 companies with the largest cash holdings, using data from TradingView to highlight who is sitting on the largest war chests.
This metric captures a company’s most liquid assets: cash plus short-term securities like T-bills that typically mature within a year.
Which Companies Hold the Most Cash?
Berkshire Hathaway leads the rankings with an impressive $382 billion.
The data table below shows the top 50 companies worldwide with the largest cash and short-term securities holdings:
RankCompanyCash and short-term investments holdings (billions)
1Berkshire Hathaway$381.7
2CITIC Limited$171.5
3Daiwa Securities Group$131.4
4Alphabet$126.8
5Amazon$126.3
6Taiwan Semiconductor Manufacturing$97.8
7Interactive Brokers Group$93.4
8Microsoft$89.5
9Charles Schwab$88.9
10Meta Platforms$82.4
11Volkswagen$76.9
12PDD Holdings$69.5
13Apple$66.9
14NVIDIA$60.6
15Tencent$59.2
16Alibaba Group Holding$58.2
17Saudi Aramco$56.0
18Contemporary Amperex Technology$51.6
19Toyota Motor$50.5
20SBI Holdings$50.0
21China State Construction Engineering$48.5
22American Express$47.8
23SoftBank Group$45.8
24Tesla$44.5
25China Mobile$43.8
26Daou Technology$43.7
27Hon Hai Precision Industry$42.5
28CNPC Capital$41.9
29Japan Securities Finance$41.0
30PetroChina$40.7
31Hong Kong Exchanges & Clearing$39.4
32Fannie Mae$39.4
33Stellantis$38.7
34Ford Motor$38.5
35International Holding Company$37.6
36Intel$37.4
37BP$36.8
38Rakuten Group$36.0
39CNOOC$35.8
40Nomura Holdings$35.7
41SAIC Motor$35.1
42Honda Motor$30.9
43Deutsche Boerse$30.6
44General Motors$30.6
45Shell$30.3
46JD.com$29.6
47Boeing$29.4
48China Railway Group$28.6
49TotalEnergies$28.3
50Daou Data$26.8
Source: TradingView | Cash and Short-Term Investments | as of Feb 11, 2026
Following Berkshire are CITIC—a Chinese state-backed financial conglomerate—and Daiwa Securities Group, one of Japan’s biggest financial brokerages.
Big Tech rounds out the top five, with Alphabet holding $127 billion and Amazon holding $126 billion.
Why Buffett Holds So Much Cash
Among the top 50 companies, the Financials sector collectively holds the largest cash reserves at $1.2 trillion—partially driven by strict capital rules requiring banks to maintain large liquid buffers.
Berkshire Hathaway is different: its cash position is strategic, not regulatory.
After 12 straight quarters as a net seller of stocks, Buffett and the team have parked much of the company’s liquidity in short-term U.S. Treasury bills, implying that equity valuations look expensive.
The Oracle’s cash and cash equivalents as a percentage of total assets is at an all-time high—roughly 31% of total assets.
Historically, this has coincided with periods when he waits for a major economic or market dislocation before deploying capital as prices begin to mean-revert—quietly accumulating dry powder in the meantime.
Why Big Tech Holds So Much Cash
The Magnificent Seven: Alphabet, Amazon, Meta, Microsoft, Apple, Nvidia and Tesla collectively hold $597 billion—enough to buy most S&P 500 companies.
Traditionally, Big Tech companies are massive cash machines: high gross margins and scalable cost structures mean incremental revenue converts into cash quickly.
Despite spending heavily to build AI factories, they’ve used little of their cash reserves to finance them—opting instead for debt.
They hold large cash stockpiles both to fund acquisitions and guard against potential economic turmoil, such as threats from tariffs or geopolitical conflicts.
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To learn more about the world’s largest companies, check out this graphic on Voronoi.
Ranked: The World’s 50 Largest Economies, Including U.S. States
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The World’s 50 Largest Economies, Including U.S. States
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Key Takeaways
19 U.S. states rank among the world’s 50 largest economies in 2025.
California ($4.30T) is now the world’s 4th-largest economy, ahead of Japan and India.
Texas ($2.94T) is larger than Italy and Russia; Florida’s economy is bigger than Australia’s.
The U.S. has the world’s largest economy at $30.6 trillion. But if you break it apart, individual states would rank among the world’s economic superpowers.
In 2025, 19 U.S. states place within the top 50 largest economies globally, according to IMF projections and U.S. Bureau of Economic Analysis (BEA) data.
California alone, with a $4.30 trillion economy, now ranks fourth in the world, ahead of Japan and India. Texas and New York also outperform entire G7 nations.
This graphic compares countries and U.S. states side by side, revealing just how economically powerful America’s largest states have become.
Where U.S. States Rank vs. the Largest Economies in 2025
Below, we break down the economic output of U.S. states compared to the world’s largest economies:
RankCountry/ StateEntity TypeGDP 2025
1 United StatesCountry$30.62T
2 ChinaCountry$19.40T
3 GermanyCountry$5.01T
4 CaliforniaU.S. State$4.30T
5 JapanCountry$4.28T
6 IndiaCountry$4.13T
7 United KingdomCountry$3.96T
8 FranceCountry$3.36T
9 TexasU.S. State$2.94T
10 ItalyCountry$2.54T
11 RussiaCountry$2.54T
12 New YorkU.S. State$2.50T
13 CanadaCountry$2.28T
14 BrazilCountry$2.26T
15 SpainCountry$1.89T
16 MexicoCountry$1.86T
17 South KoreaCountry$1.86T
18 FloridaU.S. State$1.85T
19 AustraliaCountry$1.83T
20 TürkiyeCountry$1.57T
21 IndonesiaCountry$1.44T
22 NetherlandsCountry$1.32T
23 Saudi ArabiaCountry$1.27T
24 IllinoisU.S. State$1.22T
25 PennsylvaniaU.S. State$1.07T
26 PolandCountry$1.04T
27 SwitzerlandCountry$1.00T
28 OhioU.S. State$979.1B
29 GeorgiaU.S. State$935.8B
30 North CarolinaU.S. State$905.2B
31 WashingtonU.S. State$903.7B
32 New JerseyU.S. State$896.4B
33 TaiwanCountry$884.4B
34 MassachusettsU.S. State$828.3B
35 VirginiaU.S. State$807.3B
36 MichiganU.S. State$738.3B
37 BelgiumCountry$717.0B
38 IrelandCountry$708.8B
39 ArgentinaCountry$683.4B
40 SwedenCountry$662.3B
41 IsraelCountry$610.8B
42 ArizonaU.S. State$604.3B
43 TennesseeU.S. State$596.6B
44 ColoradoU.S. State$589.9B
45 MarylandU.S. State$574.4B
46 SingaporeCountry$574.2B
47 UAECountry$569.1B
48 AustriaCountry$566.5B
49 ThailandCountry$558.6B
50 IndianaU.S. State$551.8B
In 2024, California officially overtook Japan to become the world’s fourth-largest economy.
Tech, real estate, and finance sectors have powered the state’s economy, with real GDP per capita rising 60% between 2000 and 2024. With one of the fastest growth rates overall, it far exceeds the U.S. average of 37% over the same period.
Texas, ranked ninth, commands a $2.94 trillion economy. The Lone Star State is bigger than both Italy ($2.54 trillion) and Russia ($2.54 trillion), driven by its growing population, economic strength, and energy industry.
With a $2.50 trillion economy, New York state falls in 12th place, eclipsing Canada’s entire economy. Meanwhile, Illinois’ GDP of $1.22 trillion is roughly equivalent to Saudi Arabia ($1.27 trillion), the world’s second-largest producer of oil.
Learn More on the Voronoi App
To learn more about this topic, check out this graphic on every state’s share of U.S. GDP.
Charted: The Escalating Destruction of U.S. Wildfires
Published 2 hours ago on February 19, 2026
By Julia Wendling
Graphics & Design
Athul Alexander
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The Escalating Destruction of U.S. Wildfires
Key Takeaways
Wildfires in the United States are becoming more destructive as climate conditions intensify and development expands into fire-prone areas.
The area burned by wildfires has trended upward, with many of the most severe seasons occurring in the past decade.
In 2024, nearly 9 million acres were burned, far exceeding the 40-year average of approximately 5 million acres.
Wildfires across the United States are becoming more destructive and more costly. Data from the National Interagency Fire Center shows that the annual area burned has increased over time, with several of the most severe wildfire seasons on record occurring within the past decade.
Created in partnership with Inigo, this visualization provides visual context for the rising impact of U.S. wildfires.
Wildfires Are Burning Hotter and Spreading Wider
Across the country, rising temperatures, prolonged droughts, and stronger winds are intensifying fire behavior, even as housing development pushes further into fire-prone areas.
In January 2025 alone, California wildfires burned 64,038 acres, the third-highest January total on record. The figure shows that extreme fire conditions are no longer limited to peak summer months.
YearAcres Burned
Jan.-Oct. 20254,711,179
20248,924,884
20232,693,910
20227,577,183
20217,125,643
202010,122,336
20194,664,364
20188,767,492
201710,026,086
20165,509,995
201510,125,149
20143,595,613
20134,319,546
20129,326,238
20118,711,367
20103,422,724
20095,921,786
20085,292,468
20079,328,045
20069,873,745
20058,689,389
20048,097,880
20033,960,842
20027,184,712
20013,570,911
20007,393,493
19995,626,093
19981,329,704
19972,856,959
19966,065,998
19951,840,546
19944,073,579
19931,797,574
19922,069,929
19912,953,578
19904,621,621
19891,827,310
19885,009,290
19872,447,296
19862,719,162
19852,896,147
19841,148,409
19831,323,666
Although the most destructive wildfire years occurred across several decades, the broader pattern remains unmistakable. The long-term trend in acres burned is steadily rising.
In 2024, nearly 9 million acres burned, far exceeding the 40-year average of just over 5 million acres. Only two years in the past decade recorded fewer acres burned.
Why Exposure Is Compounding
The expanding overlap between people, property, and high-risk terrain is amplifying both human and economic exposure. Over the past decade, wildfires damaged one in four buildings that stood within a previous burn zone, highlighting how rebuilding in the same areas can magnify future losses.
Insurers, property owners, and policymakers can no longer treat wildfire risk as a regional issue confined to the Western states. It is a national challenge reshaping how communities build, insure, and recover. As climate volatility increases, understanding where fires are occurring and how risk is accumulating will be critical to managing future losses.
Explore the data behind emerging global property risks.
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Ranked: The World’s Most Harvested Crops
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Ranked: The World’s Most Harvested Crops
See visuals like this from many other data creators on our Voronoi app. Download it for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.
Key Takeaways
Nearly 2 billion metric tons of sugar cane were harvested in 2024, making it the world’s most harvested crop.
Third-place finisher rice is the staple food for over half the world’s population.
Many of the world’s largest crops are used as much for animal feed and biofuels as for direct human consumption.
Nearly 2 billion metric tons of sugar cane are harvested globally each year, making it the most-produced crop on Earth by a wide margin.
This visualization highlights the scale of global crop production in 2024, showing how staple foods and key commercial crops compare. The data for this visualization is sourced from the Food and Agriculture Organization (FAO) of the United Nations.
While some top crops are dietary staples, others support large industries such as biofuels, sweeteners, and packaged foods.
The Main Crops Grown Each Year
Sugar cane stands as the dominant crop grown globally at 1.94 billion metric tons, far surpassing all other crops.
Maize follows at 1.22 billion tons, while rice and wheat—two of the world’s most essential food staples—come in at 820 million and 798 million tons, respectively.
RankCropMetric tons produced in 2024
1Sugar cane1,939,782,021
2Maize (corn)1,218,205,574
3Rice820,223,277
4Wheat798,481,711
5Oil palm fruit418,696,914
6Soya beans397,671,688
7Potatoes390,428,972
8Cassava, fresh341,905,934
9Sugar beet293,624,598
10Tomatoes188,498,383
11Barley141,996,861
12Bananas139,413,684
13Onions and shallots, dry108,260,011
14Watermelons104,959,426
15Apples97,880,076
Brazil is notably the top producer of both sugar cane and soybeans, while Eurasian giants like China, India, and Russia are the main wheat growers worldwide.
Lots of the crops in question have regional production hubs; soybeans, for example, tend to be produced in China, the U.S., and South American countries like Argentina, Brazil, and Paraguay.
Our Sweet Sugar Craze
More sugar cane is harvested in Brazil each year than in the next three largest annual producers. Sugar cane is not only processed into the table sugar you buy at the supermarkets, but also refined into biofuel, molasses, and other sweeteners.
Meanwhile, over 294 million tons of sugar beet were grown in 2024, accounting for roughly 20% of global sugar output. Sugar beet is grown specifically for sugar extraction and refined sugar.
The Corn Industry
Corn, also known internationally as maize, is the runner-up for global agricultural production, with the United States as the top grower worldwide. Most corn today, especially in the U.S., is harvested for use in animal feed or the production of biofuels such as ethanol. The U.S. has maintained large corn subsidies for over half a century.
The Corn Belt is a geographic region of the U.S. dominated by the corn industry, and is centered around the Midwestern state of Iowa. Today Iowa grows three times more corn than all of Mexico, the country where corn was first harvested in pre-Columbian times.
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Charted: The Growth of $100 by Asset Class (1965–2025)
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Charted: The Growth of $100 by Asset Class (1965–2025)
See visuals like this from many other data creators on our Voronoi app. Download it for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.
Key Takeaways
Stocks had the best returns, turning $100 into $43k—roughly 29x the return of cash and about 5x that of gold.
Real estate and government bonds beat cash, by a factor of 1.4x and 1.9x respectively.
What would $100 invested in 1965 be worth today? For stocks, it would’ve multiplied 435 times, but other asset classes have significantly lower returns.
Here’s how each asset class performed over 60 years, based on data from NYU Stern professor Aswath Damodaran.
Stocks reflect S&P 500 total returns with dividends reinvested, real estate follows the Case-Shiller Home Price Index (price only), and cash represents three-month U.S. Treasury bills.
Stocks Outperform Other Asset Classes Since 1965
The table below shows the nominal (before inflation) returns of a $100 investment across six major asset classes between 1965 and 2025, with values representing the investment’s value at year-end:
YearStocksGoldCorporate BondsGovernment BondsReal EstateCash
1965$112$100$103$101$102$104
1966$101$100$100$104$103$109
1967$125$100$101$102$105$114
1968$139$112$105$105$110$120
1969$127$118$103$100$117$128
1970$132$106$109$117$127$136
1971$151$124$124$128$132$142
1972$179$185$139$132$136$148
1973$153$320$145$137$141$158
1974$114$531$138$139$155$170
1975$156$400$153$144$166$180
1976$193$383$184$168$179$189
1977$179$470$202$170$205$199
1978$191$644$208$168$238$213
1979$226$1,459$204$170$270$235
1980$298$1,680$197$164$290$262
1981$284$1,132$214$178$305$298
1982$342$1,309$276$236$307$331
1983$419$1,089$321$244$322$361
1984$444$878$371$277$337$397
1985$583$931$460$349$362$427
1986$691$1,108$562$433$396$454
1987$731$1,379$568$412$428$481
1988$852$1,169$657$446$458$514
1989$1,120$1,136$764$525$479$557
1990$1,086$1,100$808$557$475$600
1991$1,414$1,006$940$641$475$633
1992$1,520$948$1,069$701$478$656
1993$1,672$1,116$1,244$801$489$676
1994$1,694$1,092$1,229$736$501$705
1995$2,324$1,103$1,476$909$510$745
1996$2,851$1,052$1,554$922$522$784
1997$3,795$827$1,729$1,014$543$824
1998$4,870$820$1,870$1,165$578$865
1999$5,887$827$1,888$1,069$623$906
2000$5,355$782$2,065$1,247$681$961
2001$4,721$788$2,242$1,316$726$994
2002$3,684$989$2,513$1,515$796$1,010
2003$4,728$1,186$2,824$1,521$874$1,021
2004$5,236$1,241$3,115$1,589$993$1,035
2005$5,490$1,462$3,275$1,635$1,127$1,068
2006$6,347$1,801$3,448$1,667$1,146$1,120
2007$6,695$2,375$3,617$1,837$1,084$1,170
2008$4,248$2,478$3,492$2,206$954$1,187
2009$5,349$3,098$4,189$1,961$918$1,189
2010$6,142$4,004$4,583$2,127$880$1,190
2011$6,271$4,486$5,145$2,468$846$1,191
2012$7,267$4,741$5,629$2,542$900$1,192
2013$9,604$3,432$5,565$2,310$997$1,193
2014$10,902$3,436$6,163$2,558$1,041$1,193
2015$11,053$3,020$6,071$2,591$1,096$1,194
2016$12,354$3,265$6,770$2,609$1,154$1,197
2017$15,023$3,678$7,390$2,682$1,225$1,209
2018$14,388$3,644$7,155$2,682$1,281$1,233
2019$18,879$4,339$8,246$2,940$1,328$1,259
2020$22,281$5,388$9,120$3,273$1,466$1,263
2021$28,625$5,185$9,213$3,129$1,743$1,264
2022$23,462$5,214$7,810$2,571$1,841$1,290
2023$29,576$5,905$8,492$2,671$1,946$1,358
2024$36,934$7,438$8,639$2,627$2,023$1,429
2025$43,480$12,364$9,241$2,832$2,055$1,489
Numbers have been rounded. S&P 500 includes dividends. Cash represented by 3-Month U.S. T-Bills. Corporate Bonds represented by Baa corporate bonds. Real Estate represented by the Case-Shiller Home Price Index. | As of Dec-31-2025
Stocks can build wealth faster than other major assets because company profits tend to grow over time, dividends can be reinvested, and returns compound.
The trade-off is risk and volatility as stock prices can swing sharply up and down.
In this 60-year window, a large share of equity gains happened during two major bull cycles.
Two big bull runs drove most stock gains: 1982–2000 (about 17x) and the post-2008 rebound (about 10x), so missing either one could’ve significantly dampened investment returns.
How Drawdowns and Recoveries Affect Returns
Every asset class has faced major drawdowns and recoveries, but stocks were often the fastest to recover.
In 2008, equities fell 37% in a single year, then rebounded to new highs in roughly four years as aggressive Fed support steadied markets.
After the COVID-19 shock, bonds—long seen as a safe haven—suffered their worst two-year stretch in decades.
Gold saw the longest dry spell: after its 1980 peak, it took 26 years just to break even as high real rates and a strong dollar dragged on returns. Once it finally cleared that level, it nearly doubled again by 2011.
Real estate also took time after its major drawdown—after the housing bust in 2008/2009, prices needed about a decade to fully recover.
Together, these cycles show that while no asset class is immune to deep losses, recovery timelines can vary dramatically—and patience often matters as much as diversification.
Learn More on the Voronoi App
To learn more about stock performance over the last 152 years, check out this graphic on Voronoi which plots out each year’s S&P 500 return.
Mapped: Job Growth in Every U.S. State in 2025
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Mapped: Job Growth in Every U.S. State in 2025
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Key Takeaways
Missouri posted the fastest job growth in 2025 (+1.7%), while 14 states saw employment decline year-over-year.
Southern states account for many of the top performers, including North Carolina and South Carolina.
Texas added the most jobs in absolute terms (+120,700), even as most large states grew by less than 1%.
In 2025, employment growth across the U.S. was modest overall, with 14 states ending the year with fewer jobs than they had in December 2024. At the same time, several Southern states posted some of the strongest gains in the country.
This map shows how payroll employment changed in all 50 states between December 2024 and December 2025, based on Bureau of Labor Statistics data via Arizona State University.
Missouri recorded the fastest growth rate at 1.7%, while New Hampshire saw the steepest decline at 0.8%. Overall, 14 states ended the year with fewer jobs than they had in December 2024.
Job Growth by State in 2025
Below, we show the change in employment between December 2024 and December 2025:
RankStateAnnual Job Growth 2025Absolute Job Growth
1Missouri1.7%52.2K
2North Carolina1.5%78.0K
3South Carolina1.3%30.8K
4Minnesota1.2%37.3K
5Utah1.2%21.8K
6Pennsylvania1.2%73.4K
7Arkansas1.2%16.2K
8Idaho1.2%10.2K
9Delaware1.1%5.4K
10Louisiana1.1%21.7K
11Hawaii1.0%6.6K
12New Mexico1.0%8.8K
13Montana1.0%5.0K
14Vermont0.9%2.9K
15Oklahoma0.9%15.8K
16Texas0.8%120.7K
17Ohio0.8%46.9K
18New York0.8%77.6K
19Colorado0.8%22.9K
20Arizona0.8%24.6K
21Michigan0.7%33.4K
22Tennessee0.7%24.6K
23Mississippi0.7%7.8K
24South Dakota0.6%2.9K
25Alabama0.4%9.1K
26Florida0.4%35.2K
27New Jersey0.2%10.3K
28Oregon0.2%4.1K
29Wisconsin0.2%5.7K
30Indiana0.2%5.5K
31Massachusetts0.1%4.8K
32Georgia0.1%6.2K
33Kentucky0.1%2.3K
34Iowa0.1%1.2K
35California0.0%0.9K
36Alaska0.0%0.0K
37Illinois-0.1%-5.3K
38North Dakota-0.1%-0.4K
39Connecticut-0.1%-2.2K
40Virginia-0.2%-7.6K
41Kansas-0.2%-2.8K
42Wyoming-0.3%-0.8K
43Rhode Island-0.3%-1.7K
44Washington-0.4%-14.1K
45West Virginia-0.4%-3.1K
46Maryland-0.5%-14.2K
47Nevada-0.5%-8.6K
48Nebraska-0.6%-6.4K
49Maine-0.6%-4.0K
50New Hampshire-0.8%-6.0K
Missouri’s 1.7% increase was driven largely by health services and private education, along with leisure and hospitality. Trade, transportation, and utilities saw declines.
North Carolina followed with 1.5% job growth. Construction led job gains in the state, growing by nearly 5%, supported by major investments from Microsoft, Amazon, and Meta.
Given the state’s ample land and power, it hosts 40 data centers, with several others announced or under construction.
Texas added the most jobs overall in 2025, increasing payrolls by 120,700. As a growing hub for high-value manufacturing, finance, and tech, the state has created about 20% of new jobs in the U.S. over the past five years.
By comparison, Maryland shed the most jobs in 2025, dropping by 14,200, with a significant share being federal employees. It lost more federal workers than any other state, significantly dragging down overall job growth.
Learn More on the Voronoi App
To learn more about this topic, check out this graphic on unemployment by state in 2025.
Ranked: The Biggest Buyers and Sellers of U.S. Debt (2025)
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Ranked: The Biggest Buyers and Sellers of U.S. Debt (2025)
See visuals like this from many other data creators on our Voronoi app. Download it for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.
Key Takeaways
The UK, Belgium, and Japan were the three largest buyers of U.S. debt from November 2024 to November 2025, each increasing holdings by more than $115 billion.
China reduced its U.S. debt holdings by $86 billion over the same period, leading all countries in net selling.
Despite major shifts among individual countries, total foreign holdings of U.S. Treasuries rose to a record $9.4 trillion.
Each year, the U.S. relies on investors to finance its growing debt, which stood at $38.6 trillion as of February 2026.
Both domestic and overseas investors buy this debt, with foreign holders of U.S. Treasuries owning a record $9.4 trillion of the total. While U.S. debt pays well due to its high yields currently, some countries, like China, have been selling their U.S. Treasury holdings.
This chart shows the countries that are the 20 largest buyers and sellers of U.S. Treasury securities from November 2024 to November 2025, based on data from the U.S. Treasury Department.
Europe and Japan Lead U.S. Treasury Buying
The table below shows the top countries buying U.S. Treasuries from November 2024 to November 2025, in both the U.S. dollar value and percentage change in relation to their Treasury holdings:
RankCountryChange in U.S. Treasury Holdings (Millions, Nov 2024 - Nov 2025)Percentage Change
1 United Kingdom$121,61316%
2 Belgium$119,70433%
3 Japan$115,52811%
4 Canada$99,83527%
5 Norway$56,33535%
6 France$43,53813%
7 United Arab Emirates$30,33541%
8 Taiwan$26,5399%
9 Cayman Islands$22,1315%
10 Israel$20,26523%
11 Singapore$19,9348%
12 Spain$17,61927%
13 South Korea$17,60514%
14 Kuwait$13,64327%
15 Saudi Arabia$13,28310%
16 Bermuda$12,88314%
17 Thailand$10,06114%
18 Germany$9,69910%
19 Luxembourg$7,8112%
20 Australia$7,15811%
Three countries top $100 billion on the buyer side. The UK led at $122 billion, followed by Belgium and Japan, each within $6 billion of that mark. Canada and Norway rounded out the top five.
Together, these five accounted for roughly 65% of the $786 billion in total purchases.
Belgium’s 33% surge looks dramatic, but it is largely technical.
Brussels hosts Euroclear, a major clearinghouse that holds bonds on behalf of investors across Europe. Hence, the number can indicate where the debt is held rather than who actually purchased it.
The same logic applies to other financial hubs, such as the UK, the Cayman Islands, and Luxembourg.
China, Brazil, and India Lead U.S. Treasury Selling
The table below largest sellers of U.S. Treasuries from November 2024 to November 2025, in both the U.S. dollar value and percentage change in relation to their Treasury holdings:
RankCountryChange in U.S. Treasury Holdings (Millions, Nov 2024 - Nov 2025)Percentage Change
1 China-$85,960-11%
2 Brazil-$60,847-27%
3 India-$47,517-20%
4 British Virgin Islands-$38,956-32%
5 Bahamas-$13,822-35%
6 Mexico-$13,320-13%
7 Hong Kong-$9,821-4%
8 South Africa-$6,356-39%
9 Indonesia-$4,865-14%
10 Netherlands-$4,750-6%
11 Portugal-$3,959-66%
12 Ireland-$2,876-1%
13 Denmark-$2,663-21%
14 Philippines-$2,246-3%
15 Colombia-$1,780-4%
16 Ecuador-$647-35%
17 Sweden-$637-1%
18 Austria-$361-5%
19 Barbados-$257-8%
20 Trinidad and Tobago-$249-6%
China shed $86 billion in Treasuries, a further 11% annual decline that continues a multiyear reduction in U.S. debt holdings as Beijing diversifies its reserves into gold and other assets.
Other BRICS countries, such as Brazil and India, also cut their holdings by a combined $108 billion.
That move partly reflects governments’ efforts to defend their own currencies by drawing on dollar reserves, but could also point to a continuous trend of de-dollarization.
Learn More on the Voronoi App
To learn more about the U.S. debt, check out this graphic which visualizes it all in one dollar bills on Voronoi.
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