See more visuals like this on the Voronoi app. Use This Visualization Mapped: Cost of Raising a Child in Each State in 2025 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 Massachusetts ($44K), Connecticut ($42K), and Vermont ($38K) are the most expensive states to raise a child, driven mostly by extra housing, childcare, and healthcare costs. Raising a child in Massachusetts costs over twice as much as in Mississippi ($19K). The cost of raising a child continues to rise across the U.S., but the pace and burden vary widely by state. This visualization maps the average annual cost of supporting one child in 2025, from housing and food to childcare and healthcare. The data for this visualization comes from SmartAsset. Categories include housing, food, childcare, healthcare, transportation, and taxes. Families in the most expensive states now face annual costs exceeding $40,000. Meanwhile, several states in the South and Midwest remain significantly more affordable, underscoring how geography plays a defining role in family budgeting. The Most Expensive States Massachusetts tops the 2025 list at $44,221 per year, reflecting high childcare prices and some of the steepest housing costs in the country. Connecticut ($41,808) follows closely, with a similar cost structure. Vermont stands out as the third most expensive state at $38,272, but its ranking is driven by a remarkable 25% jump from the prior year. These northeastern states exemplify how limited childcare capacity and rising medical premiums are pushing annual expenses higher. RankStateAnnual costs, 2025Annual costs, 2024One-year change 1Massachusetts$44,221$41,8285.72% 2Connecticut$41,808$38,9957.21% 3Vermont$38,272$30,54225.31% 4California$35,651$33,4416.61% 5New Jersey$35,069$30,18416.18% 6Washington$35,027$30,67114.20% 7Colorado$34,986$34,6161.07% 8Hawaii$33,363$41,479−19.57% 9New York$33,280$34,831−4.45% 10Minnesota$33,197$31,7894.43% 11Oregon$33,114$30,9546.98% 12Alaska$32,947$29,53811.54% 13New Hampshire$32,739$30,7216.57% 14Rhode Island$32,614$31,1874.58% 15Pennsylvania$31,741$27,85913.93% 16Maryland$31,283$27,80212.52% 17Montana$28,954$23,51423.13% 18Maine$28,912$28,2072.50% 19Virginia$28,330$27,2933.80% 20Wisconsin$27,955$27,4261.93% 21Indiana$27,914$23,83717.10% 22Ohio$27,706$25,4548.85% 23Illinois$27,206$26,9620.91% 24Nevada$27,123$29,603−8.38% 25Utah$26,957$23,66713.90% 26Arizona$26,624$26,659−0.13% 27Missouri$26,042$22,40916.21% 28Nebraska$25,709$25,3691.34% 29New Mexico$25,210$22,45212.28% 30Oklahoma$25,210$21,56716.89% 31North Dakota$24,752$23,2976.25% 32Delaware$24,544$29,336−16.33% 33Idaho$24,378$23,6093.26% 34Florida$24,045$22,9864.61% 35North Carolina$23,587$24,157−2.36% 36Michigan$23,587$26,359−10.52% 37South Carolina$23,296$22,1295.27% 38Wyoming$22,755$22,0223.33% 39Texas$22,672$22,1942.15% 40West Virginia$22,422$21,8072.82% 41Iowa$22,173$25,840−14.19% 42Arkansas$21,840$19,21213.68% 43Louisiana$21,798$19,48311.88% 44Kansas$21,757$21,4801.29% 45Tennessee$21,424$20,7553.22% 46Georgia$21,299$22,706−6.20% 47South Dakota$21,174$20,1435.12% 48Kentucky$20,758$20,4231.64% 49Alabama$20,550$20,601−0.25% 50Mississippi$19,178$17,4449.94% Where Costs Are Rising the Fastest Several inland and northern states saw the sharpest increases. Vermont’s 25% surge leads the nation, followed by Montana (+23%) and Indiana (+17%). In fact, many states that historically offered moderate living costs are now experiencing rapid childcare and housing price increases, narrowing the gap with traditionally expensive regions. The Most Affordable States At the other end of the spectrum, Mississippi remains the nation’s most affordable state to raise a child at $19,178—less than half the cost of Massachusetts. Alabama, Kentucky, and South Dakota also sit near the bottom, all with annual costs around $21,000. While wages tend to be lower in these states, the reduced price of childcare, housing, and transportation eases the financial burden on families. Learn More on the Voronoi App If you enjoyed today’s post, check out Visualizing the Cost of the American Dream on Voronoi, the new app from Visual Capitalist.

See more visualizations like this on the Voronoi app. Use This Visualization Visualizing the $19 Trillion Global Cost of Conflict 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 Global military expenditures were $9 trillion in 2024 in PPP U.S. dollars. Overall, GDP losses were an estimated $462 billion worldwide due to war and conflict. Last year, the economic impact of violence reached $19.1 trillion, or $717 billion higher than the previous year. This came as conflict deaths hit 25-year highs, and wars continued in the Ukraine and Gaza. In response to heightened geopolitical tensions, European nations have injected billions into defense spending. Even Japan plans to double its defense spending to 2% of GDP. This graphic shows the global cost of conflict in 2024, based on analysis from the Institute for Economic and Peace. Breaking Down the Cost of Conflict Below, we show the economic impact of violence worldwide, with figures including direct and indirect costs: CategoryTotal Economic Impact 2024 (PPP U.S. Dollars)YoY Change Military expenditure$9.0T$540B Internal security expenditure$5.7T$50B Private security$1.5T$20B Homicide$1.1T-$23B Violent crime$617B-$5B GDP losses$462B$141B Refugees and IDPs$343B$1B Incarceration$142B$2B Conflict deaths$56B$4B Peacebuilding$30B-$2B Small arms$22B-$2B Peacekeeping$16B-$2B Terrorism$8B-$7B Total$19.1T$717B In 2024, military spending grew by $540 billion to reach $9 trillion. Overall, 84 countries increased spending on military as a share of GDP, with Norway, Denmark, and Bangladesh seeing the greatest jumps. U.S. military spending totaled $949 billion, while China followed at $450 billion, in international dollars. As the second-highest cost, internal security expenditure hit $5.7 trillion. This includes costs associated with policing and the judicial system. Meanwhile, GDP losses causes by conflict surged 44% in 2024 to reach $462 billion. Compared to 2008, GDP losses have more than quadrupled, while the cost of conflict deaths has followed a similar trend. Adding to this, the cost of refugees and internally displaced persons (IDPs) had an economic toll of $343 billion. Today, 122 million people globally are forcibly displaced, more than doubling from 2008. Learn More on the Voronoi App To learn more about this topic, check out this graphic on Europe’s biggest armies.

See more visuals like this on the Voronoi app. Use This Visualization Charted: 35 Years of International Migration 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 Global migration more than doubled since 1990, reflecting growing international mobility. Out of OECD countries, Switzerland has the largest share of migrants at 31.1%. This is more than a 12 percentage point increase compared to 1990. International migration has expanded at a remarkable pace over the past 35 years. As economies globalized and mobility increased, more people moved across borders for work, safety, and education. This chart tracks how the share of foreign-born residents has changed across advanced economies since 1990. The data for this visualization comes from the United Nations. Countries With the Highest Migrant Shares Switzerland, Australia, and New Zealand show some of the highest migration shares among advanced economies. Each has seen steady increases since 1990, driven by strong labor demand and open migration channels. Smaller economies like Iceland and Austria also experienced rapid growth, transforming their demographic landscapes. These countries have become some of the most internationally diverse populations in the world. International migrants as a share of population, in OECD countries Country199020102024 Switzerland18.7%26.2%31.1% Australia23.3%26.6%30.4% New Zealand15.5%22.0%28.2% Austria8.3%15.4%25.5% Iceland3.8%11.0%25.1% Ireland6.5%16.5%23.1% Canada15.3%20.6%22.2% Sweden9.2%14.6%21.4% Belgium9.5%14.3%20.0% Germany8.7%14.4%19.8% Spain2.1%13.4%18.5% Norway4.5%10.7%18.2% UK6.4%12.2%17.1% Netherlands7.9%11.0%16.2% U.S.9.2%14.1%15.2% Denmark4.6%9.2%14.2% Greece6.0%11.9%14.2% France10.3%11.5%13.8% Italy2.7%7.8%11.0% Portugal4.4%7.2%10.8% Czechia4.3%6.6%9.5% Finland1.3%4.3%9.2% Türkiye2.1%1.9%8.1% Poland3.0%1.7%4.5% South Korea0.0%1.2%3.5% Japan0.9%1.7%2.8% Mexico0.8%0.8%1.3% New Migration Hubs in Europe and Asia Spain, Türkiye, and South Korea illustrate how quickly migration patterns can shift. Spain saw one of the steepest increases, rising from just 2% in 1990 to over 18% today. South Korea’s share climbed from near zero to 3.5%, reflecting its shift to a high-income economy attracting foreign workers. Türkiye’s rise underscores its growing role as both a destination and a transit hub for regional migration. Traditional Destinations Still Lead in Absolute Numbers Countries like the U.S., Germany, Canada, and the U.K. remain top global destinations based on total migrant populations. While their percentages have grown more gradually, their large base populations make them central to global migration flows. These economies continue to rely on international labor to fill workforce gaps and support long-term demographic stability. Learn More on the Voronoi App If you enjoyed today’s post, check out Total Fertility Rates By Country on Voronoi, the new app from Visual Capitalist.

See more visuals like this on the Voronoi app. Use This Visualization College Costs as a Percentage of Income by U.S. 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 The average student loan balance has reached $42,000 as of Q1 2025. College is cheapest in Utah, while Pennsylvania ranks as the most burdensome relative to household income. College affordability continues to be a major concern across the U.S., especially as student loan balances climb. This map breaks down the cost of college in each state based on how much of the median household income is required to cover tuition and education expenses. The data for this visualization comes from WalletHub. WalletHub analyzed the cost of attendance for full-time, in-state undergraduate students living on campus, across 49 states. Alaska was removed from the sample due to data limitations. The Most Expensive States for College Pennsylvania ranks as the least affordable state, with college costs equal to 72.48% of median household income. Rhode Island (71.16%) and New York (68.33%) follow closely. These Northeast states have some of the highest tuition levels in the country, driven by both private and public institutions. Even though Pennsylvania allocates significant funding for student aid, overall costs remain steep enough to outpace most other states. Overall RankStateCollege Cost as a% of Household Income 1Pennsylvania72.5% 2Rhode Island71.2% 3New York68.3% 4Massachusetts62.2% 5Illinois61.9% 6Vermont60.4% 7Connecticut59.7% 8Louisiana57.8% 9Oregon57.8% 10Ohio57.0% 11Missouri56.6% 12Tennessee56.3% 13New Hampshire55.7% 14Wisconsin54.7% 15Mississippi54.3% 16Kentucky52.3% 17South Carolina51.9% 18Indiana51.6% 19California51.5% 20Arkansas51.2% 21Alabama50.8% 22Oklahoma49.8% 23Maine49.6% 24Nebraska47.7% 25Michigan47.6% 26West Virginia47.1% 27Minnesota46.0% 28Arizona45.9% 29Washington45.7% 30New Jersey45.7% 31Iowa45.6% 32Florida45.2% 33North Carolina44.5% 34Texas43.8% 35Georgia42.9% 36Kansas42.6% 37Montana42.4% 38Virginia41.6% 39New Mexico41.1% 40Idaho39.9% 41Delaware39.9% 42Colorado39.7% 43Maryland37.6% 44South Dakota37.1% 45Nevada36.6% 46Hawaii35.4% 47Wyoming34.6% 48North Dakota33.1% 49Utah27.7% A large portion of states fall between 45% and 60% of median household income. This group includes states like Oregon, Ohio, Missouri, and Tennessee. The Most Affordable States Utah stands out as the most affordable state by far, with college costing just 27.69% of median household income. Strong state funding and relatively low tuition at public universities keep higher education accessible for residents. North Dakota (33.09%) and Wyoming (34.58%) follow, offering similarly manageable cost structures. Learn More on the Voronoi App If you enjoyed today’s post, check out Highest Paying Jobs with No College Degree Required on Voronoi, the new app from Visual Capitalist.

See more visuals like this on the Voronoi app. Use This Visualization Ranked: U.S. Job Cuts by Industry 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 Employers announced almost 1.1 million job cuts through October 2025, the highest total since 2020. Government, tech, warehousing, and retail saw the largest increases in layoffs, while aerospace, apparel, and transportation saw sharp declines. The U.S. job market has shifted dramatically in 2025. Employers announced more than a million layoffs through October, up 65% from the same period last year. Much of the increase came from government reductions, including large DOGE-related cuts. Meanwhile, sectors like tech, retail, and warehousing continued to shed workers at an accelerated pace. This visualization ranks the industries facing the largest job cuts so far this year. The data for this rank comes from Challenger, Gray & Christmas. Government Layoffs Surged to Record Levels Government job cuts jumped to more than 307,000, over eight times higher than the same period in 2024. A key driver was DOGE-related layoffs, which resulted in widespread workforce reductions. This made government the largest source of job cuts in 2025 by a wide margin. IndustryJob Cuts (YTD 2025)Same period, 2024 Government307,63837,746 Technology141,159120,470 Warehousing90,41818,904 Retail88,66436,136 Services63,58039,296 Financial48,96838,625 Health Care/Products44,25644,816 Consumer Products41,03333,865 Non-Profit27,6515,329 Food27,45724,729 Automotive26,14934,314 Pharmaceutical24,68912,751 Telecommunications22,89610,280 Entertainment/Leisure22,13232,087 Education20,01326,466 Media16,68013,279 Industrial Goods16,65620,616 Transportation15,54425,739 Energy15,1619,702 Electronics7,1123,360 Construction7,03210,925 Insurance5,3245,990 Apparel3,7518,016 Aerospace/Defense3,27829,526 Utility2,8728,963 Chemical2,8001,588 Mining2,5261,373 FinTech1,8645,054 Real Estate1,7954,692 Legal403202 Total1,099,500664,839 Tech, Warehousing, and Retail Continued Their Downturn The tech sector announced over 141,000 layoffs, extending a multi-year correction driven by restructuring, automation, and slower hiring pipelines. Warehousing recorded one of the steepest increases year over year, rising from 18,900 cuts in 2024 to more than 90,000 in 2025. Retail also saw layoffs more than double. Several Industries Saw Major Declines in Job Cuts Not all sectors faced worsening conditions. Aerospace and defense layoffs fell sharply from roughly 29,500 last year to just over 3,200 in 2025. Transportation and apparel also saw significant declines. The improvement in these areas suggests stabilization after several years of turbulence, including Boeing’s 2024 layoff announcement of 2,500 U.S. workers. Learn More on the Voronoi App If you enjoyed today’s post, check out Visualizing the Cost of the U.S. Government Shutdown on Voronoi, the new app from Visual Capitalist.

Published 46 minutes ago on November 20, 2025 By Julia Wendling Graphics & Design Athul Alexander Twitter Facebook LinkedIn Reddit Pinterest Email The following content is sponsored by New York Life Investments 4 Things Investors Need to Know About AI Artificial intelligence (AI) is transforming nearly every part of the global economy, from automating everyday digital tasks to enabling life-saving surgical procedures. As adoption accelerates, investors are asking the same question: where are the biggest opportunities? This visualization, created in partnership with New York Life Investments, explores four key things investors need to know about AI and how to invest around it.   1. Who Are the AI Leaders? Hundreds of AI models have emerged across the globe. However, a smaller group of companies is driving the majority of real-world deployment and innovation. Understanding who leads the AI race helps investors identify the firms best positioned to capture value. Leading the pack by number of large-scale AI models developed are Google (18 models), Meta (14), and OpenAI (10), the creator of ChatGPT.  CompanyTotal Google18 Meta14 OpenAI10 Anthropic9 Alibaba6 DeepMind6 NVIDIA5 Mistral AI4 Tsinghua4 BAAI4 Hugging Face4 Developing these cutting-edge AI systems requires billions in annual R&D spending, as companies around the world pour capital into the next wave of AI breakthroughs. 2. How Much Is Invested in AI on a Global Scale? In 2024, global artificial intelligence investment reached $252 billion, reflecting a rebound in enthusiasm after recent market volatility. While this is below the $361 billion peak in 2021, renewed momentum, particularly in the U.S. and Europe, signals AI’s return as a major driver of global innovation. Corporate investment, venture funding, and government spending are converging to accelerate adoption across sectors from healthcare to manufacturing. YearPrivate Investment ($ billions) 201753.7 201879.6 2019103.3 2020221.9 2021360.7 2022253.3 2023201.0 2024252.3 Financial resources are only part of the story. AI’s explosive growth also requires enormous amounts of electricity, water, and data center capacity. 3. How Much Power Demand Is AI-Driven? AI workloads are becoming one of the fastest-growing sources of electricity demand worldwide. Data centers consume vast volumes of energy and water to operate and cool their systems. By 2030, artificial intelligence-related data center requirements could nearly triple, significantly reshaping regional power markets and stressing global infrastructure. YearShare of total U.S. power demand (%) 20233.7 20244.3 2025P5.2 2026P6.5 2027P8.0 2028P9.3 2029P10.3 2030P11.7 The technology’s data boom is straining power systems. This is creating major investment opportunities in energy, cooling, and data infrastructure. With capital, innovation, and infrastructure needs rising rapidly, investors are increasingly looking at performance metrics to see where the strongest returns are emerging. 4. How Did Data Center REITs Perform in 2024? Riding the wave of AI-driven infrastructure demand, data center REITs surged 25.2% in 2024. This sector dramatically outperformed the broader REIT sector’s 4.9% gain.  SectorPerformance, 2024 (%) Data Centers25.2 Healthcare24.2 Office21.5 Retail14.0 Residential12.8 FTSE Nareit All Equity REITs (average)4.9 Self Storage-0.5 Lodging/Resorts-2.0 Diversified-10.0 Industrial-17.8 As hyperscalers, cloud providers, and artificial intelligence companies expand their compute capacity, these REITs have become essential assets in the digital economy. Investing to Power the Future Artificial intelligence is reshaping everything from productivity and innovation to energy grids and global competition. 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See more visuals like this on the Voronoi app. Use This Visualization Ranked: World’s Most Expensive Condo Markets 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 Five Swiss cities rank in the global top 10: Zurich, Geneva, Lausanne, Bern, and Basel. Hong Kong tops the list at roughly $25,339 per square meter, followed by Zurich and Lausanne. Singapore (#4) and Seoul (#7) are Asia’s other major entries in the top 10. New York is the only U.S. city to appear, ranking #11. Condo prices in the world’s top urban markets remain sky-high in 2025, reflecting the global trend toward urban density, luxury demand, and limited housing supply. According to the latest cost-of-living data, the most expensive places to buy an apartment are clustered in a few high-income regions, most notably Switzerland and East Asia. The data for this ranking comes from Numbeo, a crowd-sourced global cost-of-living database. It compares average prices per square meter (in U.S. dollars) for apartments in city centers worldwide. Hong Kong Remains the World’s Costliest Market Hong Kong maintains its long-standing lead with condos averaging around $25,339 per square meter. Despite recent economic challenges, the city’s limited land, high population density, and enduring appeal as a financial hub continue to drive prices to extreme levels. Singapore, Asia’s other major real estate hotspot, ranks fourth with prices exceeding $22,000 per square meter. RankCityPrice per Square Meter 1 Hong Kong (China)$25.3K 2 Zurich, Switzerland$24.8K 3 Lausanne, Switzerland$22.9K 4 Singapore, Singapore$22.5K 5 Bern, Switzerland$22.2K 6 Geneva, Switzerland$21.8K 7 Seoul, South Korea$21.6K 8 Basel, Switzerland$20.9K 9 Tel Aviv-Yafo, Israel$19.8K 10 London, United Kingdom$19.7K 11 New York, U.S.$16.1K 12 Shanghai, China$14.8K 13 Beijing, China$14.7K 14 Taipei, Taiwan$14.4K 15 Paris, France$13.7K 16 Munich, Germany$13.1K 17 Shenzhen, China$12.3K 18 Sydney, Australia$12.1K 19 Luxembourg, Luxembourg$12.1K 20 Stockholm, Sweden$11.8K Switzerland Dominates Europe’s High-End Housing Switzerland stands out with five cities appearing in the global top 10. Zurich ranks second overall at $24,758 per square meter, while Lausanne and Bern follow closely behind. These prices reflect Switzerland’s combination of financial stability, strong currency, and limited developable land in urban centers. North America and Other Markets Lag Behind Despite its reputation for high property costs, the United States makes only a single appearance in the top 20: New York City at #11. At $16,104 per square meter, it trails markets in Europe, Asia, and the Middle East. Meanwhile, cities like Tel Aviv, Munich, and Sydney remain high-value real estate markets in their respective regions. The lowest in the top 20, Stockholm, still averages more than $11,000 per square meter. Learn More on the Voronoi App If you enjoyed today’s post, check out Where’s the World Heading in 2026? on Voronoi, the new app from Visual Capitalist.

See more visuals like this on the Voronoi app. Use This Visualization Productivity of the World’s Largest 30 Economies (2005-2025) 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 China’s productivity has surged by about 340% since 2005, driven by rapid industrial upgrades and investment in technology. However, growth has slowed in recent years. Ireland’s productivity appears high due to a tax system that lets global tech and pharma firms book profits and intellectual property earnings in the country, even though most of the money goes back to their parent companies. Saudi Arabia’s productivity has declined over the past two decades, mainly due to lower oil prices in the mid-2010s and OPEC+ production cuts that limited output. Non-oil sectors are growing, but the economy still depends heavily on hydrocarbons. Economic productivity, measured by the value of goods and services produced per hour worked, is a key indicator of efficiency and overall prosperity. This chart ranks the world’s 30 largest economies by GDP per hour worked (in U.S. dollars), revealing where output has grown or stagnated over the past two decades. While advanced economies tend to dominate the top of the list, some emerging markets have seen extraordinary gains as they industrialize and integrate into global supply chains. The data for this visualization comes from the International Labour Organization (ILO). Ireland’s Exceptional Productivity Surge Ireland tops the ranking for productivity growth, with output per hour rising from $68.8 in 2005 to $139.1 in 2025—a 102% increase. However, much of this is statistical, not structural. The presence of global tech and pharmaceutical giants like Apple, Google, and Pfizer inflates Ireland’s GDP figures through profit-shifting and intellectual property accounting. China’s Growth Story Slows but Stays Strong China’s productivity has increased from $4.5 per hour in 2005 to $19.8 in 2025, up more than 340%. The early 2010s brought massive efficiency gains as factories modernized, infrastructure expanded, and manufacturing became more sophisticated. RankCountry200520152025 1 Ireland$68.8$106.6$139.1 2 Norway$108.6$113.6$123.6 3 Belgium$81.5$85.4$91.6 4 Netherlands$78.1$85.1$90.4 5 Sweden$71.4$79.9$85.7 6 Switzerland$70.3$77.9$85.4 7 France$72.3$78.2$82.2 8 U.S.$63.2$70.1$81.8 9 Germany$66.3$73.7$80.5 10 Italy$73.1$74.2$74.4 11 UK$63.2$66.1$69.5 12 Australia$58.0$66.1$69.2 13 Spain$53.7$61.4$67.9 14 Taiwan$38.5$49.6$67.4 15 Canada$57.5$62.8$67.0 16 Israel$45.3$51.5$60.8 17 Saudi Arabia$85.6$62.5$56.6 18 Japan$46.6$50.6$53.7 19 South Korea$26.7$36.4$49.6 20 Poland$28.8$36.8$48.8 21 Russia$29.0$36.8$44.3 22 UAE$55.8$40.6$43.0 23 Türkiye$22.2$31.3$40.2 24 Argentina$29.3$36.6$33.4 25 Mexico$21.4$23.6$22.4 26 Brazil$16.9$20.3$22.0 27 Thailand$10.7$14.9$18.5 28 China$4.5$11.1$19.8 29 Indonesia$8.3$11.5$15.7 30 India$4.3$7.2$10.7 However, growth has slowed in recent years. As wages rise and manufacturing matures, further productivity improvements increasingly depend on automation, AI integration, and service-sector innovation. Oil Economies Show Mixed Trends Productivity in Saudi Arabia has fallen from $85.6 in 2005 to $56.6 in 2025. The decline reflects both falling oil prices during the 2010s and OPEC+ production caps that curbed output. While diversification efforts under Vision 2030 are expanding non-oil industries, hydrocarbons still dominate the economy. By contrast, Norway, another resource-rich economy, maintains one of the world’s highest productivity levels at $123.6 per hour, thanks to strong governance, sovereign wealth reinvestment, and a highly skilled workforce. The U.S., Germany, and France have all seen consistent gains. The U.S. rose from $63.2 to $81.8, Germany from $66.3 to $80.5, and France from $72.3 to $82.2 over the 20-year span. Western Europe continues to outperform on efficiency thanks to automation and worker training, while Japan and the UK have grown more slowly due to aging populations and stagnant investment. Learn More on the Voronoi App If you enjoyed today’s post, check out How Quality of Life Has Changed in 30 Countries, According to Citizens on Voronoi, the new app from Visual Capitalist.

Published 4 hours ago on November 19, 2025 By Jenna Ross Graphics & Design Jennifer West Twitter Facebook LinkedIn Reddit Pinterest Email The following content is sponsored by Plasma Inflation Watch: Countries Losing Purchasing Power in 2025 Key Takeaways When inflation is high, money stops holding its value and turns into a melting asset instead. In Venezuela, the purchasing power of $100 could drop to just $15 by the end of 2025. Imagine earning $100 in January, only to have it buy less than $80 worth of goods or services by December. That’s how fast inflation is eating away at purchasing power in some countries. This graphic, created in partnership with Plasma, highlights countries with the highest inflation rates and what $100 could be worth by the end of 2025. It’s part of our Money 2.0 series, where we highlight how finance is evolving into its next era.  The Declining Value of $100 Due to Inflation Some countries are facing high inflation rates, which means that prices are rising very quickly. As prices rise, money you already hold will buy you less than it did before. What does this look like in dollar terms? Using projected 2025 inflation rates from the International Monetary Fund (IMF), we estimated what the equivalent of $100 at the start of the year will be worth by the end of 2025. CountryPurchasing Power of $100 by End of 2025 Venezuela$15 Sudan$67 Iran$69 Türkiye$76 Yemen$76 Zimbabwe$77 Myanmar$77 Haiti$77 Burundi$77 Argentina$78 Source: IMF World Economic Outlook, Oct. 2025. The IMF expects Venezuela will have an inflation rate of nearly 549% in 2025. In practical terms, this means $100 saved at the start of the year would only buy goods worth $15 by December. Economic sanctions from the U.S. have worsened the financial crisis in the country.  Even outside this extreme example, many countries are on track to see the local currency lose about a quarter of its purchasing power over the course of the year. This means wages and savings lose value quickly, making everyday essentials like food and rent harder to afford. How to Protect Purchasing Power When local money is rapidly losing purchasing power, residents can move their savings into a currency experiencing much lower inflation and more stability. For instance, stablecoins are primarily pegged to the U.S. dollar and can help people preserve the value of their money. With Plasma One, a global U.S. dollar card, people can quickly sign up on their phone and use their stablecoin balance in more than 150 countries. Ready for 4% cash back and 10%+ yield? Get early access to Plasma One. More from Plasma Technology2 weeks ago Unbanked in a Connected World: Account Ownership vs Phone Ownership In many unbanked countries, fewer than one in three adults have a financial account, but most own a mobile phone. Technology2 months ago Ranked: The Biggest Buyers of U.S. Debt Stablecoin Week: See how stablecoin issuers stack up against countries like Japan and Singapore as major buyers of U.S. debt. Technology2 months ago Mapped: Stablecoin Regulation Globally Which countries have stablecoin regulation proposed or in place, and which have no tailored laws? Find out in this Stablecoin Week piece. Technology4 months ago Stablecoin Evolution: Milestones of the New Payment Rail The GENIUS Act marks a turning point for stablecoin. Explore 8 key milestones in the digital dollar’s rise to mainstream finance. Technology5 months ago Is the U.S. Dollar Primed for a Digital Rebound? U.S. dollar influence is shrinking in some spaces, but stablecoins could give the currency a new chapter of global dominance. Money5 months ago Ranked: The Biggest Currency Drops So Far in 2025 In the first half of 2025, one currency dropped over 50% against the U.S. dollar. What led to the decline? Technology6 months ago Ranked: Countries With the Highest Remittance Costs To send money across borders, workers can be charged high remittance fees—over 50% of the amount transferred in some cases. Subscribe Please enable JavaScript in your browser to complete this form.Join 375,000+ email subscribers: *Sign Up

See more visuals like this on the Voronoi app. Use This Visualization When Companies Will Reach $5 Trillion in Market Cap 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 Data from BestBrokers.com estimates when the next $5 trillion companies will emerge, based on their historical 3-year average growth rates. If these estimates hold up, Microsoft could be the next company to hit the $5T milestone, followed shortly after by Alphabet. After Nvidia became the world’s first $5 trillion dollar company in October 2025, investors are left wondering which tech giant will reach the milestone next. To find out, we’ve visualized forecasts that estimate when various companies could reach a $5 trillion market cap based on historical growth trends. Data & Discussion The analysis from BestBrokers.com is based on each company’s 3-year average growth rate. It projects that Microsoft and Alphabet could reach $5 trillion sometime in the second half of 2026, while others, including Apple and Meta, could follow in 2027. CompanyMarket Cap3-Year Average Growth RateEstimated Date to Reach NVIDIA$4,970,000,000,000163%Reached on Oct. 29 Microsoft$3,940,000,000,00032%Aug 18, 2026 Alphabet$3,450,000,000,00043%Oct 25, 2026 Apple$4,030,000,000,00018%Jan 14, 2027 Broadcom$1,780,000,000,000112%Feb 20, 2027 Meta$1,680,000,000,00097%May 19, 2027 TSMC$1,580,000,000,00077%Oct 13, 2027 Amazon$2,400,000,000,00032%May 27, 2028 Tesla$1,510,000,000,00033%Dec 26, 2029 Oracle$765,970,000,00056%Jan 1, 2030 Hyperscalers Could Hit $5 Trillion Soon Microsoft is expected to be the next company to reach $5 trillion if its 3-year average growth rate of 32% continues. While Microsoft generates a majority of its revenue from cloud services, other segments like gaming are growing at an impressive pace. Alphabet, which has an average annual growth rate of 43% over the past 3 years, could follow soon after. Google’s flagship ad business continues to drive massive revenue, allowing the company to pour billions into its AI initiatives. Alphabet shares have also received a boost after Berkshire Hathaway revealed its $4.9 billion stake in the company. Learn More on the Voronoi App If you enjoyed today’s post, check out The World’s Largest Companies by Revenue on Voronoi, the new app from Visual Capitalist.

See more visuals like this on the Voronoi app. Use This Visualization Visualizing All of the World’s Data Centers 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 November 2025 data reveals America’s leadership in digital infrastructure, accounting for roughly 38% of the world’s data centers. Europe is also a major force, with nearly 3,500 data centers across the region. Data centers are the backbone of the digital economy, storing, managing, and processing the world’s data. In this graphic, we visualize the countries with the most data centers as of November 2025, revealing where the world’s digital infrastructure is concentrated. Data & Discussion The data for this graphic was accessed via Statista. We visualized it with a sunburst chart, which shows the top countries within each region. CountryRegionData Centers U.S.Americas4,165 UKEurope499 GermanyEurope487 ChinaAsia & Oceania381 FranceEurope321 CanadaAmericas293 AustraliaAsia & Oceania274 IndiaAsia & Oceania271 JapanAsia & Oceania242 ItalyEurope209 BrazilAmericas195 NetherlandsEurope194 SpainEurope194 IndonesiaAsia & Oceania182 RussiaEurope180 IrelandEurope139 SwitzerlandEurope117 MalaysiaAsia & Oceania114 SwedenEurope103 Hong KongAsia & Oceania95 PolandEurope94 South KoreaAsia & Oceania93 FinlandEurope87 NorwayEurope86 TurkeyEurope83 SingaporeAsia & Oceania78 DenmarkEurope68 ChileAmericas67 RomaniaEurope65 MexicoAmericas63 IsraelAfrica & Middle East61 UAEAfrica & Middle East58 New ZealandAsia & Oceania57 South AfricaAfrica & Middle East56 ThailandAsia & Oceania56 CzechiaEurope55 AustriaEurope52 Saudi ArabiaAfrica & Middle East51 BelgiumEurope48 PortugalEurope46 ColombiaAmericas42 ArgentinaAmericas42 UkraineEurope38 TaiwanAsia & Oceania36 VietnamAsia & Oceania34 PhilippinesAsia & Oceania31 BulgariaEurope31 PakistanAsia & Oceania27 LatviaEurope25 GreeceEurope22 NigeriaAfrica & Middle East21 SloveniaEurope21 KenyaAfrica & Middle East20 IranAfrica & Middle East20 LithuaniaEurope19 HungaryEurope19 CyprusEurope18 PanamaAmericas17 CroatiaEurope16 LuxembourgEurope16 OmanAfrica & Middle East15 BangladeshAsia & Oceania15 PeruAmericas14 EgyptAfrica & Middle East13 KazakhstanAsia & Oceania13 SerbiaEurope13 SlovakiaEurope13 IcelandEurope13 MoroccoAfrica & Middle East12 Costa RicaAmericas12 EstoniaEurope12 TanzaniaAfrica & Middle East11 QatarAfrica & Middle East11 MauritiusAfrica & Middle East10 UruguayAmericas10 CambodiaAsia & Oceania10 MaltaEurope10 EcuadorAmericas9 NepalAsia & Oceania9 GhanaAfrica & Middle East8 BahrainAfrica & Middle East8 AngolaAfrica & Middle East8 JordanAfrica & Middle East8 Puerto RicoAmericas8 SenegalAfrica & Middle East7 GuatemalaAmericas7 MacedoniaEurope7 LiechtensteinEurope7 Ivory CoastAfrica & Middle East6 MozambiqueAfrica & Middle East6 LibyaAfrica & Middle East6 AlgeriaAfrica & Middle East6 ParaguayAmericas6 VenezuelaAmericas6 UzbekistanAsia & Oceania6 MongoliaAsia & Oceania6 MoldovaEurope6 Isle of ManEurope6 GibraltarEurope6 ReunionAfrica & Middle East5 KuwaitAfrica & Middle East5 EthiopiaAfrica & Middle East5 BotswanaAfrica & Middle East5 BoliviaAmericas5 MyanmarAsia & Oceania5 JerseyEurope5 DRCAfrica & Middle East4 DjiboutiAfrica & Middle East4 TunisiaAfrica & Middle East4 UgandaAfrica & Middle East4 HondurasAmericas4 BahamasAmericas4 Trinidad and TobagoAmericas4 BruneiAsia & Oceania4 Bosnia and HerzegovinaEurope4 GeorgiaEurope4 AlbaniaEurope4 RwandaAfrica & Middle East3 ZambiaAfrica & Middle East3 MadagascarAfrica & Middle East3 ZimbabweAfrica & Middle East3 Dominican RepublicAmericas3 El SalvadorAmericas3 NicaraguaAmericas3 CuracaoAmericas3 GuamAsia & Oceania3 KyrgyzstanAsia & Oceania3 New CaledoniaAsia & Oceania3 AzerbaijanAsia & Oceania3 MonacoEurope3 AndorraEurope3 GuernseyEurope3 LebanonAfrica & Middle East2 NamibiaAfrica & Middle East2 CameroonAfrica & Middle East2 TogoAfrica & Middle East2 LesothoAfrica & Middle East2 SurinameAmericas2 BermudaAmericas2 Cayman IslandsAmericas2 ArmeniaAsia & Oceania2 BhutanAsia & Oceania2 MaldivesAsia & Oceania2 LaosAsia & Oceania2 Sri LankaAsia & Oceania2 AfghanistanAsia & Oceania2 French PolynesiaAsia & Oceania2 BelarusEurope2 GreenlandEurope2 MalawiAfrica & Middle East1 Republic of the CongoAfrica & Middle East1 IraqAfrica & Middle East1 Burkina FasoAfrica & Middle East1 GuineaAfrica & Middle East1 PalestineAfrica & Middle East1 GabonAfrica & Middle East1 MaliAfrica & Middle East1 MayotteAfrica & Middle East1 Equatorial GuineaAfrica & Middle East1 EswatiniAfrica & Middle East1 SudanAfrica & Middle East1 SeychellesAfrica & Middle East1 SomaliaAfrica & Middle East1 French GuianaAmericas1 MartiniqueAmericas1 JamaicaAmericas1 U.S. Virgin IslandsAmericas1 Papua New GuineaAsia & Oceania1 MacauAsia & Oceania1 Solomon IslandsAsia & Oceania1 KosovoEurope1 America: The Epicenter of Global Data The U.S. leads the world with 4,165 data centers, accounting for nearly 38% of all facilities worldwide. This is due to the country’s robust tech sector, with major players like Amazon, Google, and Microsoft operating extensive cloud infrastructure. Companies like OpenAI are also driving an historic build-out of digital infrastructure to power AI workloads, with spending commitments of $1.4 trillion between now and 2035. Whether or not this level of spending is sustainable remains to be seen. Europe’s Data Center Network Europe hosts nearly 3,500 data centers, with the largest numbers seen in the UK (499), Germany (487), and France (321). The EU’s regulatory emphasis on privacy, through the General Data Protection Regulation (GDPR), has also spurred the growth of local facilities, especially in Northern and Western Europe. Learn More on the Voronoi App If you enjoyed today’s post, check out The Power Demand of Data Centers on Voronoi, the new app from Visual Capitalist.

See more visuals like this on the Voronoi app. Use This Visualization Ranked: States Americans Are Moving To 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 Texas and Florida led the nation in attracting new residents between 2023 and 2024, each gaining over half a million newcomers from other states. While overall mobility in the U.S. has reached historic lows, southern and Sun Belt states continue to see strong domestic migration trends. Nearly one in five Americans who moved between 2023 and 2024 relocated across state lines, marking one of the lowest national mobility rates in U.S. history. Still, migration patterns reveal clear regional winners, with people continuing to flock toward warmer, lower-cost states. This visualization highlights the top destinations and origins of interstate movers, based on fresh data from Point2Homes. It shows where Americans are relocating and how these patterns reflect broader economic and demographic shifts. Sun Belt States Dominate Migration Flows Florida, California and Texas were the clear winners of interstate migration. Each attracted around half a million new residents from other states, with Florida’s 21% out-of-state share standing out. RankStateTotal Movers% From Out of StateMovers from Other States 1Texas3,970,00014%556K 2California3,750,00011%407K 3Florida2,790,00021%574K 4New York1,670,00017%285K 5Georgia1,340,00020%266K 6Ohio1,330,00015%198K 7North Carolina1,250,00024%300K 8Pennsylvania1,240,00019%235K 9Illinois1,190,00017%200K 10Michigan1,030,00014%140K 11Virginia1,000,00026%266K 12Washington999,00022%222K 13Arizona971,00024%235K 14Tennessee831,00023%192K 15Colorado796,00023%182K 16Indiana768,00017%134K 17New Jersey735,00021%151K 18Missouri718,00020%141K 19Massachusetts694,00022%153K 20South Carolina640,00030%189K 21Wisconsin626,00019%116K 22Minnesota617,00017%105K 23Maryland616,00027%164K 24Alabama558,00022%120K 25Oklahoma548,00020%108K 26Oregon527,00023%119K 27Kentucky520,00018%96K 28Louisiana456,00016%72K 29Utah437,00022%95K 30Nevada426,00031%131K 31Kansas366,00023%84K 32Iowa364,00017%60K 33Arkansas354,00018%63K 34Connecticut345,00024%83K 35Mississippi295,00022%65K 36Idaho262,00028%73K 37Nebraska247,00020%50K 38New Mexico226,00024%54K 39West Virginia173,00026%44K 40Hawaii159,00034%54K 41Montana140,00026%36K 42New Hampshire138,00035%49K 43Maine135,00027%36K 44Rhode Island113,00032%36K 45South Dakota110,00021%23K 46North Dakota105,00026%27K 47Delaware104,00033%35K 48Alaska103,00029%30K 49Wyoming71,00036%26K 50Vermont71,00035%25K North Carolina, Georgia, and Tennessee also saw high inbound movement, suggesting the Sun Belt remains a powerful draw due to job opportunities, climate, and affordability. Coastal and Northern States See Modest Gains California and New York still saw millions of total movers, but a smaller portion came from outside their borders—11% and 17%, respectively. These high-population states often experience both significant inflows and outflows, as many residents leave for lower-cost regions while newcomers arrive for career opportunities or lifestyle reasons. Small States Show High Mobility Rates States like Wyoming, Vermont, and Hawaii had some of the highest percentages of newcomers from out of state, exceeding 30%. Attractive natural environments, remote work flexibility, and lifestyle migration continue to reshape these regions. Learn More on the Voronoi App If you enjoyed today’s post, check out Ranked: The Cities Americans Are Moving To on Voronoi, the new app from Visual Capitalist.

See more visualizations like this on the Voronoi app. Use This Visualization Visualizing the Cost of the U.S. Government Shutdown 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 Roughly 1.4 million federal workers were impacted by the record U.S. government shutdown, with 730,000 working without pay and 670,000 furloughed. Total delayed federal government spending was estimated to be $54 billion. The record-long U.S. government shutdown resulted in billions in losses to the economy. Over a million federal workers went without pay for more than six weeks, limiting their spending capacity. Meanwhile, about $2 billion in food stamp spending was delayed over the six-week period, affecting 40 million people. This graphic shows the estimated cost of the U.S. government shutdown, based on analysis from the Congressional Budget Office. The Government Shutdown’s $54 Billion Freeze Below, we show the financial impact of delayed federal spending by category: CategorySix Week Shutdown Estimates Delayed Spending on Goods and Services$36B Delayed Compensation$16B Delayed Spending on SNAP$2B Total Delayed Spending$54B As we can see, delayed compensation was estimated to reach $16 billion over a six-week period. In total, 730,000 federal employees were working without pay, while 670,000 were furloughed. Many air traffic controllers looked for other work during the shutdown, an industry already facing a shortage of 3,903 fully certified workers prior to the shutdown. Delayed spending on goods and services totaled $36 billion, the largest category overall. For instance, the shutdown forced the Small Business Administration to halt $170 million in federal loan guarantees per day, impacting at least 8,300 small businesses. Given these disruptions, it is estimated that the shutdown will shave off $28 billion from real GDP in the fourth quarter of 2025. For the travel industry alone, spending fell by an estimated $5 billion. Learn More on the Voronoi App To learn more about this topic, check out this graphic on America’s federal workforce.

Published 4 hours ago on November 18, 2025 By Julia Wendling Graphics & Design Lebon Siu Athul Alexander Twitter Facebook LinkedIn Reddit Pinterest Email The following content is sponsored by Hinrich Foundation Ranked: Number of Trade Agreements Across 30 Economies Fueled by post-Brexit trade agreements, the UK leads its peers with 39 deals. How do other economies from this year’s Sustainable Trade Index stack up? This visualization, created in partnership with Hinrich Foundation, shows the number of trade agreements each country has in place, using data from the World Trade Organization. The analysis comes from the 2025 Sustainable Trade Index (STI), which the Hinrich Foundation produced in collaboration with the IMD World Competitiveness Center. What Is a Trade Agreement? A trade agreement is a pact between countries that sets rules for cross-border trade. These deals lower barriers like tariffs and quotas, making trade more predictable and encouraging investment. Types include bilateral (two countries) and multilateral (three or more). They range from free trade agreements that reduce tariffs, to customs unions with shared external policies, and economic unions (like the European Union) with deeper integration. Countries with the Most Trade Agreements Of the 30 countries tracked by the STI, there is a huge range in terms of number of trade agreements.  The UK ranks first with 39 agreements. The country focused on building trade ties with non-EU nations after voting to leave the bloc in 2016. RankCountryRegional Trade Agreements (number) 1 UK39 2 Chile31 3 Singapore28 4 Mexico23 4 South Korea23 6 Peru21 7 China20 8 Australia19 8 India19 10 Japan18 11 Malaysia17 12 Indonesia16 12 Vietnam16 14 Canada15 14 New Zealand15 14 Thailand15 17 U.S.14 18 Brunei11 18 Philippines11 18 Russia11 21 Cambodia10 21 Laos10 21 Pakistan10 24 Ecuador9 24 Myanmar9 26 Hong Kong8 27 Papua New Guinea6 27 Sri Lanka6 29 Bangladesh5 30 Taiwan4 Chile ranks second with 31 agreements. Singapore follows in third place with 28 agreements. Both countries are small and depend heavily on imports. Canada ranks 14th with 15 agreements. The U.S. ranks 17th with 14 agreements. Both countries sit in the middle of the pack. Countries with the Least Trade Agreements Several countries in the STI show limited openness to trade. Taiwan ranks last with only 4 agreements. Bangladesh follows closely with 5 agreements. Sri Lanka and Papua New Guinea each hold 6 agreements. Russia maintains 11 agreements despite heightened geopolitical tensions. It ranks 18th overall. Explore the Sustainable Trade Index This infographic was just a small subset of what the Sustainable Trade Index has to offer. To learn more, visit the Hinrich Foundation, where you can download additional resources including the entire report for free. Visit the Hinrich Foundation to download the entire report, for free. Related Topics: #wto #2025 #sustainable trade index #Hinrich Foundation #agreements #trade Click for Comments var disqus_shortname = "visualcapitalist.disqus.com"; var disqus_title = "Ranked: Number of Trade Agreements Across 30 Economies"; var disqus_url = "https://www.visualcapitalist.com/sp/hf07-trade-agreements/"; var disqus_identifier = "visualcapitalist.disqus.com-183736"; More from Hinrich Foundation Markets1 month ago Ranked: The World’s Most Sustainable Economies in 2025 Based on the Hinrich Foundation’s 2025 Sustainable Trade Index, which economies are the most and least sustainable? Economy2 months ago Ranked: Countries Losing the Most (and Least) from Trump’s Tariffs Trump’s tariffs affect all major U.S. trading partners, but what matters is how each country’s tariffs compare to its competitors. Economy3 months ago Charting How U.S. Tariffs Will Hit Key Products U.S. tariffs have climbed to an average rate of 18.6%—the highest since 1933. 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See more visualizations like this on the Voronoi app. Use This Visualization Mapped: Which Countries Hold the Most Gold Reserves? 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 U.S. and Europe hold over 60% of global gold reserves as of 2024. China added 331 tonnes between 2019 and 2024, lifting its total to 2,280 tonnes. India, Poland, and Turkey saw major increases from 2019 to 2024. Poland’s holdings jumped from 2019 to 2024, reaching 448 tonnes. Gold remains one of the world’s most enduring stores of value, and central banks continue to accumulate it at record levels. The buying also cause the metal to hit record high prices in 2025. This map highlights which countries hold the most gold in their official reserves. The data for this visualization comes from BullionVault, which tracks global central bank gold holdings. Figures represent official gold reserves in tonnes as of 2024. Collectively, the U.S. and Europe control more than 60% of all reported reserves. RankCountryGold reserves (tonnes) 1 United States8,133.5 2 Germany3,351.6 3 Italy2,451.9 4 France2,437.0 5 Russia2,333.1 6 China2,279.6 7 Switzerland1,039.9 8 India876.2 9 Japan846.0 10 Netherlands612.5 11 Turkey595.4 12 Poland448.2 13 Portugal382.7 14 Uzbekistan382.6 15 Saudi Arabia323.1 16 United Kingdom310.3 17 Lebanon286.8 18 Kazakhstan284.1 19 Spain281.6 20 Austria280.0 21 Thailand234.5 22 Belgium227.4 23 Singapore220.0 24 Algeria173.6 25 Iraq162.6 26 Libya146.7 27 Azerbaijan146.6 28 Philippines130.5 29 Brazil129.7 30 Egypt126.9 31 Sweden125.7 32 South Africa125.4 33 Mexico120.3 34 Greece114.6 35 Qatar110.8 36 Hungary110.0 37 South Korea104.4 38 Romania103.6 39 Kuwait79.0 40 Indonesia78.6 41 United Arab Emirates74.4 42 Jordan71.6 43 Australia70.9 44 Denmark66.5 45 Pakistan64.7 46 Argentina61.7 47 Belarus53.9 48 Venezuela52.0 49 Czech Republic51.2 50 Serbia48.1 51 Cambodia46.5 52 Finland43.8 53 Bulgaria40.9 54 Malaysia38.9 55 Kyrgyzstan38.1 56 Peru34.7 57 Slovakia31.7 58 Ghana30.5 59 Ukraine27.4 60 Ecuador26.3 61 Syria25.9 62 Bolivia22.5 63 Morocco22.1 64 Afghanistan21.9 65 Bangladesh14.3 66 Cyprus13.9 67 Mauritius12.4 68 Ireland12.0 69 Paraguay8.2 70 Mongolia7.3 71 Myanmar7.3 72 Georgia7.1 73 Guatemala6.9 74 Tunisia6.8 75 Latvia6.7 76 Guinea6.3 77 Lithuania5.8 78 Colombia4.7 79 Bahrain4.7 80 Mozambique3.9 81 Bosnia and Herzegovina3.5 82 Albania3.4 83 Slovenia3.2 84 Luxembourg2.2 85 Hong Kong2.1 86 Iceland2.0 87 Trinidad and Tobago1.9 88 Haiti1.8 89 El Salvador1.4 90 Papua New Guinea1.3 91 Suriname1.2 92 Honduras0.7 93 Dominican Republic0.6 94 Sri Lanka0.5 95 Estonia0.2 96 Chile0.2 97 Malta0.2 98 Solomon Islands0.2 99 Uruguay0.1 100 Bhutan0.1 101 Moldova0.1 The United States Dominates Global Gold Holdings The United States remains the world’s largest holder of gold by a wide margin, with 8,133.5 tonnes, a figure virtually unchanged for decades. Most of this gold is stored at Fort Knox and the New York Federal Reserve. At current prices, America’s reserves are worth over $1 trillion, serving as a strategic asset that underpins confidence in the U.S. dollar. Europe’s Long-Standing Reserves Remain Strong Europe’s major economies—Germany (3,352 tonnes), Italy (2,452 tonnes), and France (2,437 tonnes)—collectively hold nearly 8,200 tonnes, rivaling the U.S. total. These large holdings date back to the postwar Bretton Woods era, when gold underpinned the international monetary system. China’s gold reserves have surged from 1,948 tonnes in 2019 to 2,280 tonnes in 2024, as Beijing diversifies away from U.S. Treasury holdings and seeks to internationalize the yuan. India, now the world’s fifth-largest economy, holds 876 tonnes. Other emerging markets, including Turkey (595 tonnes) and Poland (448 tonnes), have sharply increased gold holdings to hedge against inflation, currency volatility, and geopolitical uncertainty. Beyond the Top 10: Smaller Nations Build Resilience Countries like Uzbekistan (383 tonnes) and Saudi Arabia (323 tonnes) also feature prominently, highlighting the growing appeal of gold among energy and resource-rich economies. In addition, developing nations such as Thailand, Singapore, and Kazakhstan are quietly increasing their reserves as a safeguard against global shocks. Learn More on the Voronoi App If you enjoyed today’s post, check out Gold or Stocks? $10K After 25 Years on Voronoi, the new app from Visual Capitalist.

See more visuals like this on the Voronoi app. Use This Visualization Ranked: U.S. States by GDP Per Capita Growth (2000-2024) 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 States like North Dakota and Texas have benefited from their surging energy sectors. Tech hubs like Washington (home to Microsoft) and California have also grown well above the average rate. The U.S. economy has grown significantly over the past two decades, but the pace of growth has not been even from state to state. In this graphic, we ranked each state by its real GDP per capita growth from 2000 to 2024, adjusted for inflation. Current GDP per capita figures (2024) were included for a second layer of context. Data & Discussion The data for this visualization was sourced from the U.S. Bureau of Economic Analysis and the Census Bureau. RegionReal GDP Per Capita Change (2000–2024)GDP Per Capita (2024 USD) North Dakota104%$100,504 Washington60%$107,564 California60%$102,662 Nebraska58%$94,364 Utah52%$85,475 Texas50%$88,517 Montana48%$68,975 South Dakota47%$83,052 Massachusetts46%$109,095 Oklahoma46%$64,388 Oregon46%$77,299 New York45%$116,883 Iowa44%$81,998 New Mexico40%$69,046 Kansas39%$77,601 Tennessee38%$77,645 Vermont38%$71,359 New Hampshire38%$84,694 Colorado37%$93,602 Maryland36%$87,180 Arizona35%$75,186 Arkansas34%$60,984 Florida34%$73,879 Maine33%$70,586 West Virginia33%$60,156 Pennsylvania33%$77,062 Virginia33%$86,451 Alabama31%$63,080 Indiana30%$75,028 Idaho30%$64,457 Minnesota29%$87,636 Wisconsin29%$76,044 Illinois28%$90,330 Ohio28%$77,684 District of Columbia27%$262,439 Mississippi27%$53,751 Hawaii27%$81,339 Kentucky27%$64,375 North Carolina26%$76,427 South Carolina26%$65,173 Wyoming26%$87,639 Alaska24%$96,695 Georgia23%$78,841 Rhode Island22%$72,265 Louisiana21%$71,594 Missouri21%$71,846 New Jersey19%$89,045 Michigan18%$69,274 Connecticut14%$97,096 Nevada12%$82,330 Delaware1%$105,495 U.S. Average37%$86,143 Energy States Post Strong Growth North Dakota leads the nation with a remarkable 104% increase in real GDP per capita since 2000. Its shale oil boom dramatically reshaped its economy, making it America’s third largest oil producer as of 2024. Texas (+50%) also benefited from strong energy production and related investment flows. Tech Hubs Continue to Outperform Washington and California each posted 60% growth, outpacing the national average of 37%. Washington now boasts one of the highest GDP-per-capita levels in the country at $107,564, supported by its deep technology ecosystem anchored by Microsoft, Amazon, and a broad base of high-productivity industries. California similarly benefits from Silicon Valley’s innovation engine, which drives strong per-worker economic output even after accounting for the the state’s massive population. Learn More on the Voronoi App If you enjoyed today’s post, check out America’s Fastest Growing States by Population on Voronoi, the new app from Visual Capitalist.

Published 6 hours ago on November 17, 2025 By Jenna Ross Graphics & Design Zack Aboulazm Abha Patil Twitter Facebook LinkedIn Reddit Pinterest Email The following content is sponsored by MSCI When Float Rises, Stock Prices Often Follow Key Takeaways When companies increase their free float, stock-specific returns tend to rise the following month. When free float decreases, stock prices often fall. Stock prices are influenced by a wide range of factors, but one driver may be lesser-known: free float. This graphic, in partnership with MSCI, shows how changes in free float have historically impacted the next month’s returns. What is Free Float? Free float refers to the portion of a company’s shares that are publicly available for trading. It does not include restricted shares held by insiders, which are not typically traded on the open market. The Float Effect on Stock Prices MSCI’s analysis found that, historically, stock-specific returns tended to rise the month after an increase in free float. Stock-specific returns are net of market, industry, and style-factor influences. Conversely, stock prices often dropped after a decrease in float. Free Float ChangeAverage Stock-Specific Returns (%), Month After Free Float Change ≤ -5%-0.39 -1% to -5%+0.07 -1% to +1%-0.04 +1% to 5%+0.13 ≥ 5%+0.66 Source: MSCI. Data from Feb. 2023 to Sep. 2025. Stock-specific returns correspond to the next month of float-change disclosure and are based on the MSCI global equity risk model (EFMGEMLT). The scale of the float change mattered, with larger increases in float being associated with stronger next-month performance.  Why might stock prices go up when float increases? When there are more shares available for trading, it can make it easier to buy and sell the stock and attract more investors. On top of this, it may even boost the stock’s weight in major indexes during updates.  Investors may react early to these expected changes, driving up the price shortly after the float increase is announced.  On the other hand, when float decreases, the stock can become harder to trade and might lose ground in index weightings, leading some investors to pull back. Takeaways for Investors Free float is more than just a technical index adjustment. Asset owners and money managers can treat it as a risk and return variable, incorporating float changes into trading models and portfolio construction. Explore key insights on how free float can shape liquidity, risk, and returns. More from MSCI Investor Education2 months ago Two Markets, Two Stories: How Value Stocks Have Outperformed Internationally Value stocks outside the U.S. have outperformed their benchmark, making them a key consideration for international portfolios. 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See more visuals like this on the Voronoi app. Use This Visualization Visualizing Future Solar Power Capacity by Country 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 With 671 GW of prospective solar capacity, China alone represents nearly 35% of the global pipeline, more than the next five countries combined. Countries like Mauritania, and Colombia have entered the top 15 recently. The top 15 countries account for over 80% of all planned solar capacity. The global solar energy landscape is rapidly transforming as countries race to expand clean energy capacity. This visualization breaks down total solar power by country, combining both operational and prospective (planned) projects. The data for this visualization comes from the Global Energy Monitor’s Solar Power Tracker. It compiles every known solar project around the world, measured in megawatts alternating current (MWac), a measure of how much usable electricity a solar farm delivers to the grid. China Leads by a Massive Margin Total global solar capacity, including all projects in construction and planned, is expected to reach almost 2.9 terawatts (TWac), with 80% concentrated in just 15 countries. CountryOperational (MWac)ProspectiveTotal Capacity China447,508670,9351,118,442 U.S.121,311116,636237,947 India72,30098,442170,742 Brazil20,165139,376159,541 Spain28,014103,062131,076 Australia11,626114,147125,772 Greece1,39764,51265,908 Mauritania13347,03247,165 Philippines3,18840,35943,547 Oman1,68839,50841,196 Colombia3,45131,95535,406 Germany26,2838,87935,161 Chile9,98224,83034,812 UK9,03125,07034,100 Mexico12,78720,94333,731 Japan31,0951,58732,682 Libya46028,03928,499 Morocco79426,21927,013 Saudi Arabia3,30521,36324,668 Egypt3,12517,32020,445 Vietnam12,9027,30520,207 Rest of World104,623280,093384,716 Global Total925,1661,927,6132,852,779 China dominates both operational and planned solar power, with a total capacity exceeding 1.1 million MWac. Its prospective projects alone account for about 35% of all global planned solar. Beyond installation capacity, China also produces over 80% of the world’s solar panel materials and components. The U.S. and India Follow The United States and India follow distantly, at 237,947 MWac and 170,742 MWac of total future capacity respectively. Both countries are seeing strong growth in utility-scale projects, driven by policy support like the U.S. Inflation Reduction Act and India’s National Solar Mission. Still, their combined future capacity equals less than half of China’s. Emerging Solar Frontiers in Africa and Latin America While traditional solar leaders remain in North America, Europe, and Asia, several emerging markets are gaining momentum. Mauritania, and Colombia, for example, now appear among the top 15, each with over 35,000 MWac in planned projects. Learn More on the Voronoi App If you enjoyed today’s post, check out Mapped: The Average Cost of Electricity by U.S. State on Voronoi, the new app from Visual Capitalist.

See more visualizations like this on the Voronoi app. Use This Visualization Visualizing the State of World Debt 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 World debt reached $111 trillion in 2025, equal to 94.7% of GDP. Japan, Sudan, and Singapore have the highest debt ratios globally, while the U.S. ranks in 11th with a 125% debt-to-GDP ratio. World debt is so high that 23 countries are borrowing more than their GDP, including two countries owing more than double their annual economic output. As debt-to-GDP ratios continue to swell, servicing them is getting more expensive. Strikingly, more than 3.4 billion people live in countries where net interest payments on public debt exceed education or health funding. This graphic shows the countries with the highest debt-to-GDP ratios in 2025, based on data from the IMF’s latest World Economic Outlook. World Debt Continues to Climb Below, we rank countries by government debt as a share of GDP: RankCountryGeneral Government Gross Debt (Percent of GDP) 1 Japan230% 2 Sudan222% 3 Singapore176% 4 Venezuela164% 5 Lebanon164% 6 Greece147% 7 Bahrain143% 8 Italy137% 9 Maldives132% 10 Mozambique131% 11 United States125% 12 Senegal123% 13 France117% 14 Zambia115% 15 Canada114% 16 Ukraine109% 17 Belgium108% 18 Cabo Verde106% 19 Bhutan106% 20 United Kingdom103% 21 Sri Lanka101% 22 Spain100% 23 Barbados100% 24 China96% 25 Dominica96% 26 Saint Vincent and the Grenadines94% 27 Bolivia94% 28 Republic of the Congo93% 29 Brazil91% 30 Portugal91% 31 Laos91% 32 Jordan90% 33 Suriname89% 34 Mauritius88% 35 El Salvador88% 36 Egypt87% 37 Finland87% 38 Austria82% 39 India81% 40 Tunisia81% 41 Malawi80% 42 Argentina79% 43 South Africa77% 44 Saint Lucia77% 45 Fiji77% 46 Gabon76% 47 Guinea-Bissau76% 48 Hungary75% 49 The Gambia74% 50 The Bahamas74% 51 Rwanda73% 52 Togo72% 53 Pakistan72% 54 Yemen71% 55 Malaysia70% 56 Israel69% 57 Kenya68% 58 Grenada68% 59 Morocco67% 60 Aruba67% 61 Slovenia67% 62 Uruguay67% 63 South Sudan66% 64 Antigua and Barbuda66% 65 West Bank and Gaza66% 66 Trinidad and Tobago65% 67 Thailand65% 68 Belize65% 69 Germany64% 70 Namibia64% 71 Myanmar64% 72 Palau63% 73 San Marino63% 74 Angola62% 75 Saint Kitts and Nevis62% 76 Romania61% 77 Montenegro61% 78 Dominican Republic60% 79 Poland60% 80 Costa Rica60% 81 Panama60% 82 Slovakia60% 83 Jamaica59% 84 Ghana59% Japan takes the lead with a 230% debt ratio, declining from 235% in the IMF’s April forecast. Despite this, Japan’s new prime minister is planning to revive ‘Abenomics’ through easy monetary policy and billions in subsidies. While this likely does not bode well for its debt pile, Japanese equities surged to record highs after the election. War-torn Sudan follows next, with a 222% debt to GDP, followed by Singapore, at 176%. In Europe, Greece’s debt burden is highest overall, at 147%—nearly double the region’s average. Italy follows next, with a 137% debt ratio, falling from 2020 highs of 155%. Overall, America ranks 11th globally. As it stands, the current federal budget is projected to add $1.8 trillion each year to the $38 trillion debt pile. While the U.S. debt ratio is 125% today, it will likely only continue to rise. Learn More on the Voronoi App To learn more about this topic, check out this graphic on debt to income by U.S. state.

Published 4 hours ago on November 17, 2025 By Jenna Ross Graphics & Design Jennifer West Twitter Facebook LinkedIn Reddit Pinterest Email The following content is sponsored by Terzo Universities Where the Most Alumni Become Entrepreneurs Key Takeaways UC Berkeley has the most undergraduate alumni who have gone on to become entrepreneurs. Out of the top 20 universities producing entrepreneurs, 15 are located in the U.S. Israel’s Technion and the University of Toronto moved up the ranking the most compared to 2024. Behind every headline-grabbing startup is a story that often begins on a university campus. It’s where many founders meet their co-founders, pitch their first investors, or build the early versions of their product. So which universities turn the most alumni into entrepreneurs? This infographic was created in partnership with Terzo for our Markets in a Minute series, which features quick economic insights for executives. We explore which institutions are fueling the next generation of innovation through their alumni.  The Top Universities with Entrepreneurial Alumni To see how universities stack up, we used data from PitchBook based on an analysis of more than 173,000 VC-backed founders who raised capital between January 1, 2014, and September 1, 2025. The U.S. dominates the list, serving as the home base for 15 out of the top 20 universities. However, universities with entrepreneurial alumni are expanding outside the U.S., with Israel’s Technion (+6 gain in rank vs 2024) and the University of Toronto (+8 gain in rank vs 2024) both seeing significant jumps in the 2025 ranking. RankUniversityEntrepreneur Count 1University of California, Berkeley1,804 2Stanford University1,519 3Harvard University1,355 4University of Pennsylvania1,206 5Massachusetts Institute of Technology (MIT)1,131 6Cornell University944 7Tel Aviv University865 8University of Texas, Austin850 9University of Michigan, Ann Arbor845 10Technion - Israel Institute of Technology783 11University of Illinois, Urbana-Champaign751 12Yale University710 13University of California, Los Angeles (UCLA)679 14Columbia University671 15Princeton University656 16University of Southern California (USC)644 17University of Toronto643 18University of Waterloo639 19Indian Institute of Technology, Bombay627 20Duke University625 Since companies can have more than one founder, and founders can attend multiple schools, the same company or individual may count toward multiple universities. Based on undergraduate degrees, UC Berkeley has the most alumni who became entrepreneurs. For example, Anthony Levandowski attended UC Berkeley and later co-founded Google’s self-driving car program, now known as Waymo. While a student at Berkeley, Levandowski participated in a self-driving vehicle race put on by the Department of Defense. The early technology he and others developed during the race became the basic structure for Waymo.  Stanford and Harvard University round out the top three. Both schools offer a variety of paths to support entrepreneurs, including Stanford’s StartX accelerator program and Harvard’s Innovation Labs. Interestingly, these institutions also top the list of universities producing the most billionaires. Why The Ranking of Entrepreneurs Matters for Leaders For senior executives, the metric of alumni entrepreneurs offers more than a chance to see where their alma mater falls. It signals environments that nurture independent thinkers capable of launching high‑growth ventures.  Alumni who become entrepreneurs often have autonomy, initiative, and a bias toward innovation. Companies looking to recruit such mindsets, whether through partnerships, acquisitions or talent‑pipelines, may benefit from tracking schools that consistently produce entrepreneurs. The fact that 15 of the top 20 schools are U.S.‑based may also influence global talent strategies. Great insights, like these university trends, start with great data. NirvanAI is an all-in-one AI system that turns your company’s contract data into actionable information. See NirvanAI in action and learn how it helps you make decisions with confidence. More from Terzo Economy1 week ago Mapped: Where Workers Are Supporting the Most Seniors In many advanced economies, the number of retirees is climbing while the working-age population shrinks. What are the countries where workers are supporting the most seniors? 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