Use This Visualization Statuegraphic: The Story of Marcus Aurelius’ Epic Battles Key Takeaways The Column of Marcus Aurelius was completed in 193 AD to commemorate the emperor’s campaigns during the Marcomannic Wars. Standing 39.7 meters (130 feet) tall in Rome’s Piazza Colonna, the column is wrapped in a spiraling frieze that visually narrates Aurelius’ military victories. Restoration work in 2025 used lasers to clean the column’s marble, revealing fresh detail from a monument that has stood for nearly two millennia. The Column of Marcus Aurelius, one of Rome’s most iconic imperial monuments, immortalizes the Roman emperor’s campaigns during the Barbarian Wars. The visual featured above is sourced from a meticulous 18th-century engraving by Giovanni Battista Piranesi, archived in the David Rumsey Historical Map Collection, that reproduces the towering structure in incredible detail. We’ve provided additional context on the graphic. The Story Told in Marble The narrative on the Column of Marcus Aurelius unfolds in a continuous spiral from bottom to top. Across 21 intricately carved drums of white Carrara marble, Roman soldiers fortify camps, cross rivers, battle Germanic tribes, and emerge victorious, all under the command of the stoic emperor himself. Unlike Trajan’s Column, which emphasized conquest and administration, the Marcus Aurelius column takes on a more somber tone. It features scenes of execution, slavery, burning villages, and even divine intervention, reflecting the brutal realities of warfare in the 2nd century AD. Historical and Artistic Legacy Completed in 193 AD, the column was originally crowned with a statue of Marcus Aurelius, which was lost to time. In 1588, Pope Sixtus V replaced it with a statue of the Apostle Paul, which is still in place today. Despite centuries of weathering, pollution, and urban development, the column remains a centerpiece of Rome’s Piazza Colonna. Incredibly, laser restoration efforts completed in 2025 have peeled back centuries of grime to reveal newly vivid carvings and detail. This project brought new life to a 1,800-year-old narrative, allowing viewers to better appreciate the craftsmanship and complexity of the ancient storytelling. A Monument to an Era of Crisis Marcus Aurelius ruled during a turbulent period marked by plague, border conflict, and economic strain, a theme we also explore in our data-driven piece on currency and the collapse of the Roman Empire. This column, completed posthumously, is both a tribute and a testament to those challenges, preserved in marble for the world to study.

See more visualizations like this on the Voronoi app. Use This Visualization U.S. Population Growth Projections to 2055 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 2025, the U.S. population is forecast to grow 0.2% amid record-low fertility rates and an aging population. Over the next 30 years, population growth is expected to decline to zero. By 2048, population will peak, as net immigration growth and natural population decline (deaths > births) cancel each other out. U.S. population growth is slowing, and is projected to grind to a halt by 2048. Today, historically low fertility means births only marginally exceed deaths. Not only that, within the next decade that balance is projected to flip, with deaths surpassing births by an increasing margin. This graphic shows U.S. population growth projections through to 2055, based on analysis from the Congressional Budget Office. U.S. Population Growth in Decline In the table below, we show the rate of population growth in America since 2005 along with forecasts to mid-century: YearOverall Population GrowthBirths Minus DeathsNet Immigration 20051.1%0.5%0.6% 20061.2%0.6%0.6% 20070.9%0.6%0.3% 20080.6%0.5%0.1% 20090.8%0.5%0.3% 20100.8%0.5%0.3% 20110.8%0.5%0.3% 20120.6%0.4%0.2% 20130.7%0.4%0.3% 20140.9%0.4%0.5% 20150.9%0.4%0.5% 20160.7%0.4%0.3% 20170.7%0.3%0.4% 20180.5%0.3%0.2% 20190.4%0.3%0.1% 20200.4%0.1%0.3% 20210.5%0.0%0.5% 20220.9%0.1%0.8% 20231.2%0.2%1.0% 20240.9%0.1%0.8% 20250.2%0.1%0.1% 20260.3%0.1%0.2% 20270.3%0.1%0.2% 20280.3%0.1%0.2% 20290.3%0.0%0.3% 20300.3%0.0%0.3% 20310.3%0.0%0.3% 20320.3%0.0%0.3% 20330.2%0.0%0.3% 20340.2%-0.1%0.3% 20350.2%-0.1%0.3% 20360.2%-0.1%0.3% 20370.2%-0.1%0.3% 20380.2%-0.1%0.3% 20390.2%-0.1%0.3% 20400.1%-0.2%0.3% 20410.1%-0.2%0.3% 20420.1%-0.2%0.3% 20430.1%-0.2%0.3% 20440.1%-0.2%0.3% 20450.1%-0.2%0.3% 20460.1%-0.2%0.3% 20470.1%-0.3%0.3% 20480.0%-0.3%0.3% 20490.0%-0.3%0.3% 20500.0%-0.3%0.3% 20510.0%-0.3%0.3% 20520.0%-0.3%0.3% 20530.0%-0.3%0.3% 20540.0%-0.3%0.3% 20550.0%-0.3%0.3% In 2024, there were 3.6 million births in America, falling from 4.1 million in 2005. Overall, population growth from births exceeding deaths was just 0.1% last year, while in 2005 it stood at 0.5%. At the same time, fertility rates sank from 2.6 births per woman to 1.6 in 2024. With natural increase fading, net immigration has become a far more important driver of population growth in recent years. Without it, the U.S. population would begin contracting as early as 2033. Moreover, average population growth is projected to fall from 0.9% annually between 1974 and 2024 to less than one-fifth of that pace through 2055. Over the same period, net immigration is forecast to average 1.1 million people per year, up from 920,000 annually between 2010 and 2019. Learn More on the Voronoi App To learn more about this topic, check out this graphic on America’s fastest-growing states.

See more visuals like this on the Voronoi app. Use This Visualization Mapped: The World’s Most Expensive Cappuccinos 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 Zurich and Copenhagen top the list, with cappuccinos costing nearly $6.80 on average. Even among the world’s most expensive cities, cappuccino prices vary widely across regions. Coffee is a daily ritual for millions of people around the world. Yet the price of a simple cappuccino can vary dramatically depending on where you order it. Local wages, rents, taxes, and currency strength all shape what consumers ultimately pay for their caffeine fix. This visualization ranks the most expensive cappuccinos among the 69 major cities covered in Deutsche Bank’s Mapping the World’s Prices 2025 report. It covers cappuccino prices in 2025, expressed in U.S. dollars for comparability. Swiss and Nordic Cities Lead the Rankings Zurich and Copenhagen share the top spot, with an average cappuccino price of $6.77. Switzerland’s high wages and cost of living, combined with a strong currency, push everyday purchases higher. Geneva also ranks among the most expensive cities at $5.86, reinforcing Switzerland’s position as one of the costliest places in the world for daily consumption. RankCityEconomyCappuccino Price (USD) 1Zurich Switzerland$6.77 2Copenhagen Denmark$6.77 3New York United States$5.95 4San Francisco United States$5.90 5Geneva Switzerland$5.86 6Abu Dhabi United Arab Emirates$5.84 7Los Angeles United States$5.78 8Chicago United States$5.67 9Boston United States$5.62 10Dubai United Arab Emirates$5.53 11Edinburgh United Kingdom$5.28 12London United Kingdom$5.19 13Helsinki Finland$5.13 14Stockholm Sweden$5.10 15Hong Kong Hong Kong$5.09 16Doha Qatar$5.08 17Vienna Austria$4.96 18Singapore Singapore$4.96 19Oslo Norway$4.90 20Amsterdam Netherlands$4.79 U.S. Cities Cluster Near the Top Several U.S. cities appear prominently in the rankings. New York ($5.95) and San Francisco ($5.90) lead the pack, followed closely by Los Angeles, Chicago, and Boston. Despite differences in geography and culture, cappuccino prices across these U.S. cities fall within a relatively narrow range, suggesting similar cost structures in large urban markets. Europe’s Price Range—and Italy’s Exception European cities show a wider spread. While London ($5.19), Stockholm ($5.10), and Helsinki ($5.13) rank among the pricier options, Vienna and Amsterdam sit below $5.00. Notably, Italy stands apart. Even the most expensive cappuccino in Italy—found in Milan—costs just $2.15, while in Rome the average price is only $1.79. Learn More on the Voronoi App If you enjoyed today’s post, check out Which Countries Drink the Most Wine? on Voronoi, the new app from Visual Capitalist.

See more visuals like this on the Voronoi app. Use This Visualization Mapped: Chances of a White Christmas Across the U.S. 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. A white Christmas is one of those holiday experiences that feels universal—until you look at the weather history and actual odds of snowfall on Christmas Day across the United States. This map shows the historic probability across the U.S. of seeing at least one inch of snow on the ground on December 25, using data from the NOAA National Centers for Environmental Information (NCEI) is based on the latest U.S. Climate Normals (1991–2020). These “normals” are three-decade averages built from observations at nearly 15,000 stations, offering a consistent baseline for what’s typical in different parts of the country. Latitude Matters Most For a Snow on Christmas Day If you want the simplest rule of thumb for a white Christmas, head north. The northern Plains, Upper Midwest, and large stretches of the interior Northeast generally sit in higher probability bands than the rest of the country. The data table below features state averages of NOAA’s full 5,000+ row dataset of specific station probabilities of at least one inch of snow: StateAverage probability of at least one inch of snow on Christmas day Alabama0.1% Alaska84.3% Arizona4.1% Arkansas1.3% California4.4% Colorado48.7% Connecticut35.2% Delaware6.5% Florida0.0% Georgia0.4% Hawaii0.0% Idaho62.1% Illinois27.2% Indiana26.0% Iowa46.9% Kansas15.0% Kentucky6.6% Louisiana0.1% Maine74.4% Maryland11.2% Massachusetts35.8% Michigan64.8% Minnesota75.2% Mississippi0.2% Missouri13.7% Montana56.7% Nebraska35.1% Nevada17.8% New Hampshire70.1% New Jersey13.7% New Mexico11.3% New York55.9% North Carolina3.1% North Dakota77.3% Ohio26.8% Oklahoma3.1% Oregon14.4% Pennsylvania34.2% Rhode Island26.9% South Carolina0.6% South Dakota55.5% Tennessee2.8% Texas0.8% Utah46.2% Vermont76.9% Virginia8.6% Washington26.9% West Virginia26.8% Wisconsin66.3% Wyoming56.0% Areas around the Great Lakes can also improve their odds thanks to lake-effect snow, which can build persistent snowpack when cold air is in place. Meanwhile, the further south you go, the more quickly the map shifts into darker shades—signaling that a white Christmas is historically uncommon. Mountains Upgrade White Christmas Probabilities Elevation can change the forecast more than any state line. The Rockies and the Sierra Nevada stand out as some of the most reliable places for holiday snow cover, with many high-altitude areas reaching the upper probabilities of Christmas Day snowfall. The Cascades and ranges across Idaho also show strong odds, reinforcing how quickly temperatures drop with height. Even in the East, the Appalachians make a visible difference—higher terrain can hold onto snow that the surrounding lowlands doesn’t. Why the South and Coasts Often Miss White Christmas Across the Gulf Coast, Deep South, and much of the Sun Belt, the map largely sits in the 0–10% range. Warmer winter temperatures mean snow is rarer to begin with—and even when it does fall, it’s less likely to stick around long enough to still be on the ground by Christmas morning. Coastal climates often tilt milder as well, especially where ocean air moderates winter cold. And for non-contiguous states, the story is mixed: Alaska’s station network is too sparse to confidently fill in the entire map, while Hawaii’s odds remain firmly at zero. In other words, the classic “white Christmas” is real—but it’s also highly regional. If snow is the goal, history suggests two reliable strategies: chase colder latitudes, or climb into the mountains. Learn More on the Voronoi App For more Christmas-related visualizations, check out this graphic which ranks Spotify’s most streamed Christmas songs on Voronoi.

Charted: The Christmas Tree Market in the U.S. 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. Real Christmas trees still make up a $2 billion market in the U.S., despite competition from artificial trees. The Fraser Fir dominates sales with 35% market share, followed by Douglas and Noble Firs. Oregon leads U.S. production, and Canada plays a key role in filling seasonal shortfalls. Each December, millions of Americans venture out to find the perfect Christmas tree, and for a large portion of them, nothing beats a real evergreen. Despite rising demand for artificial trees, the real Christmas tree market in the U.S. remains vibrant, with 21.6 million trees sold in 2023 alone, according to data compiled by USDA’s Ag Census and industry groups. This visualization by Made Visual Daily breaks down the U.S. market by tree breed and regional production, using datasourced from the USDA and the National Christmas Tree Association. The Fraser Fir leads all other varieties, accounting for 35% of the market thanks to its excellent needle retention and sturdy branches—ideal for holding ornaments. The Douglas Fir and Noble Fir follow with 27% and 17% market share respectively. StateShare of U.S. Christmas Tree Production Oregon31.9% North Carolina21.3% Michigan11.9% Washington6.2% Pennsylvania4.8% Other States23.9% On the production side, Oregon supplies nearly a third of all U.S. trees, followed by North Carolina, Michigan, and Washington. Real vs. Artificial: A Shifting Holiday Tradition While over 21 million real trees were sold in 2023, that’s down significantly from past decades. In the 1990s, Americans were buying upwards of 35 million real trees annually. Today, many households are opting for reusable artificial trees due to convenience, cost, or concerns over sustainability. Despite the slow decline, there are an estimated 350 million Christmas trees currently growing on U.S. farms. Imports and Supply Chain Realities Even with robust domestic production, the U.S. often turns to Canada to make up for supply gaps—especially in years when droughts or wildfires affect yields in Oregon or North Carolina. Canadian tree farms, particularly in Quebec and Nova Scotia, are key players in the North American market. While prices have risen slightly due to inflation and logistical challenges, supply has remained stable. Tree shortages feared during the pandemic have largely abated, though growers continue to manage tighter inventories to avoid oversupply. Where Your Decorations Come From Christmas trees are just one part of a complex global supply chain behind the holidays. From lights to ornaments, much of what decorates American homes is produced overseas. For more on this, see our article: Where Do Your Christmas Decorations Come From?

See more visuals like this on the Voronoi app. Use This Visualization The Top 20 Countries with the Most Internet Users 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 China and India alone account for more than 2.3 billion internet users, far surpassing every other country. Large populations, not penetration rates, largely determine which countries rank highest by total users. In 2025, 74% of the world’s population, or about 6 billion people, is online, up from 71% (5.8 billion) a year earlier. While internet use continues to grow, more than a quarter of the global population remains offline. Access also varies sharply by income level, with 94% of people in high-income countries using the internet compared with just 23% in low-income countries. This visualization ranks the top 20 countries by total number of internet users, highlighting how sheer population scale often outweighs connectivity rates. The data for this visualization comes from Datareportal. China and India Dominate by Scale China ranks first with roughly 1.30 billion internet users, representing more than 90% of its population. India follows with just over 1.03 billion users, despite a much lower internet penetration rate of 70%. Together, these two countries account for more internet users than the rest of the top 20 combined. RankCountryInternet users 1 China1,296,394,000 2 India1,026,954,000 3 U.S.323,888,000 4 Indonesia230,448,000 5 Brazil184,997,000 6 Russian federation135,676,000 7 Pakistan116,839,000 8 Mexico110,345,000 9 Nigeria108,700,000 10 Japan106,933,000 11 Egypt98,211,000 12 Philippines98,025,000 13 Vietnam85,621,000 14 Bangladesh82,806,000 15 Germany78,454,000 16 Turkey77,466,000 17 Iran73,751,000 18 United kingdom68,090,000 19 Thailand67,826,000 20 France63,449,000 Emerging Markets Beyond the top two, the rankings show how large emerging markets, including Indonesia, Brazil, Pakistan, and Nigeria, now rival or surpass many advanced economies in total internet users, underscoring a continued shift in the center of global online activity toward the Global South. Despite rapid global growth, Africa remains underrepresented among the world’s largest online populations. Nigeria is the only African country in the top 10, and just two African nations appear in the top 20, reflecting lower internet penetration rates and persistent gaps in infrastructure, affordability, and access across much of the continent. Learn More on the Voronoi App If you enjoyed today’s post, check out The World’s Data Centers on Voronoi, the new app from Visual Capitalist.

See more visuals like this on the Voronoi app. Use This Visualization Mapped: The World’s Longest Animal Migrations 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 Traveling up to 59,652 miles (96,000 km) each year, the Arctic Tern experiences two summers annually, following continuous daylight between the Arctic and Antarctic. Gray and Humpback Whales depend on predictable ocean temperatures, feeding in cold, plankton-rich Arctic waters and breeding in warm tropical lagoons thousands of kilometers away. The world’s great migrations are among nature’s most astonishing phenomena. Every year, millions of animals embark on journeys that span oceans, continents, and even hemispheres. This visualization maps some of the longest known migration routes on Earth. From the Arctic Tern’s pole-to-pole flight to the epic oceanic travels of whales and turtles, these journeys connect ecosystems across the globe and shape entire food webs. The data for this visualization comes from multiple sources, including Current Biology, NOAA, and National Geographic. 1. The Arctic Tern: The Ultimate Global Traveler The Arctic Tern is the undisputed migration champion. Traveling between 31,000 and 59,000 miles (50,000–96,000 km) each year, the Arctic Tern experiences two summers. Scientists have tracked these terns following continuous daylight, timing their flights to chase the sun’s warmth and maximize feeding opportunities. Over its lifetime (up to 34 years), an Arctic Tern can fly the equivalent of three round trips to the Moon. AnimalReturn Trip (km)Distance (miles)Example of Route Arctic tern50,00031,070Arctic breeding grounds → Antarctic pack-ice zone and back Bar-tailed godwit30,00018,640Pacific circuit: Alaska → New Zealand → China → Alaska Northern wheatear30,00018,640Alaska → East Africa Gray whale20,00012,430Sakhalin (Russia) → Mexico Humpback whale20,00012,430Samoa → Antarctic waters Leatherback turtle20,00012,430Pacific or Atlantic transoceanic routes (e.g., W. Pacific → California Current) Bluefin tuna20,00012,430Mediterranean spawning areas → North American feeding grounds Globe skimmer dragonfly15,0009,320India East Africa across the Indian Ocean (Multigenerational) Monarch butterfly9,000 5,590Eastern North America → Mexico and back (Multigenerational) Caribou1,000 620Annual forest tundra migration Zebra500 310Botswana river valley → Namibia grazing areas Distances represent approximate annual migration distances (round trip), which may vary by population and individual. 2. Ocean Voyagers: Whales Marine mammals such as Gray and Humpback Whales migrate thousands of miles between icy feeding grounds and tropical breeding lagoons. Gray Whales travel up to 12,000 miles (20,000 km) annually between the Bering Sea and Baja California, while some Humpback populations cover comparable round-trip distances between tropical breeding grounds and Antarctic feeding areas. Their migrations are finely tuned to ocean productivity and temperature, making them key indicators of marine ecosystem health. 3. Feathered and Winged Flyers: Birds and Insects in Motion Beyond the terns, species like the Bar-tailed Godwit and Northern Wheatear make record-breaking non-stop flights, crossing entire oceans without stopping to feed. Many bird species achieve extraordinary nonstop ocean crossings by accumulating substantial fat reserves for fuel and employing energy-efficient flight techniques like dynamic soaring. In addition, other physiological adaptations—such as the ability to temporarily reduce the size of internal organs to lighten their load—help enable these long-distance journeys. Some bird species have also been observed entering brief periods of reduced brain activity while in flight, though the role this plays in nonstop migration is still being studied. Even smaller creatures like the Globe Skimmer Dragonfly traverse up to 11,000 miles between India and Africa. 4. Land Migrations On land, animals like Caribou and Wildebeest follow ancient migration paths dictated by seasonal changes. Some caribou herds can migrate over 1,000–2,500 miles (1,600–4,000 km) annually, among the longest terrestrial migrations on Earth, while the Serengeti’s Wildebeest migration—a circular movement of almost a thousand miles—is among the most visually dramatic wildlife events on Earth. Similarly, Zebras migrate roughly 310 miles each year, traveling from Botswana’s river valleys to grazing areas across the border in Namibia. Learn More on the Voronoi App If you enjoyed today’s post, check out Ranked: Countries With the Largest Forests in 2025 on Voronoi, the new app from Visual Capitalist.

See more visuals like this on the Voronoi app. Use This Visualization Ranked: The Best Countries at Math 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 Singapore leads the world in math performance. Asian economies make up the global top five. The United States falls below the OECD average, ranking 33rd out of the 35 countries on this ranking. Math skills are a foundational input into modern economies. They support innovation, productivity, and long-term competitiveness. As technology and data-driven work become more central, countries with stronger math outcomes often gain an edge. This infographic ranks countries by their average math scores among 15–16 year-olds. The data for this visualization comes from the OECD’s PISA 2022 assessment. PISA measures how well students can apply math knowledge to practical problems, offering a global comparison of education systems. Scores typically range from below 400 to above 600. Top performers in this dataset score well above the OECD average of 472. East Asia Sets the Global Benchmark Singapore ranks first with an average math score of 575. Macau (SAR), Taiwan, Hong Kong (SAR), Japan, and South Korea also appear near the top of the ranking. These economies have consistently prioritized math education through rigorous programs and high academic expectations. RankCountryAverage PISA Score 1 Singapore575 2 Macau552 3 Taiwan547 4 Hong Kong540 5 Japan536 6 South Korea527 7 Estonia510 8 Switzerland508 9 Canada497 10 Netherlands493 11 Ireland492 12 Belgium489 13 Denmark489 14 United Kingdom489 15 Poland489 16 Australia487 17 Austria487 18 Czech Republic487 19 Slovenia485 20 Finland484 21 Latvia483 22 Sweden482 23 New Zealand479 24 Germany475 25 Lithuania475 26 France474 27 Spain473 28 Hungary473 29 Portugal472 OECD average472 30 Italy471 31 Norway468 32 Malta466 33 U.S.465 34 Slovakia464 35 Croatia463 Europe’s Strong, Steady Performers Several European countries cluster just above or around the 500 mark. Estonia leads the region, followed closely by Switzerland and the Netherlands. Ireland, Belgium, Denmark, and Poland also post solid results. How North America Compares Canada ranks ninth overall with a score of 497, standing out as one of the strongest performers outside East Asia and Europe. The United States ranks lower at 465, below the OECD average. Countries from Africa, the Middle East, and Latin America are absent from the list, reflecting long-standing gaps in educational performance across regions. Learn More on the Voronoi App If you enjoyed today’s post, check out Ranked: Productivity of the World’s Largest 30 Economies (2005-2025) on Voronoi, the app from Visual Capitalist.

See more visuals like this on the Voronoi app. Use This Visualization Mapped: South America’s Most Populated Cities 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 São Paulo is South America’s largest city, with nearly 23 million people, far ahead of any other urban center. Brazil dominates the ranking, accounting for more than half of the continent’s 50 most populated cities. South America is home to some of the world’s fastest-growing and most densely populated urban areas. This map highlights South America’s most populated cities, showing where people are concentrated and how urban growth varies by country. The data for this visualization comes from World Population Review (2025). Brazil’s Urban Dominance Brazil stands out as the continent’s urban heavyweight. São Paulo alone approaches 23 million residents, making it not only South America’s largest city but one of the largest in the world. In fact, São Paulo’s population exceeds that of well-known megacities like Mexico City, Moscow, Beijing, and New York. Rio de Janeiro follows closely, reinforcing Brazil’s central role in the region’s urban landscape. RankCityCountryPopulation 1São Paulo Brazil22,990,000 2Buenos Aires Argentina15,752,300 3Rio de Janeiro Brazil13,923,200 4Bogota Colombia11,795,800 5Lima Peru11,517,300 6Santiago Chile6,999,460 7Belo Horizonte Brazil6,351,680 8Brasilia Brazil4,990,930 9Recife Brazil4,344,050 10Fortaleza Brazil4,284,450 11Porto Alegre Brazil4,268,960 12Medellin Colombia4,172,810 13Salvador Brazil4,029,910 14Curitiba Brazil3,889,140 15Asuncion Paraguay3,627,220 16Campinas Brazil3,491,580 17Guayaquil Ecuador3,244,750 18Caracas Venezuela3,015,110 19Goiania Brazil2,927,080 20Cali Colombia2,916,790 21Belem Brazil2,453,800 22Manaus Brazil2,434,640 23Maracaibo Venezuela2,432,440 24Barranquilla Colombia2,396,400 25Valencia Venezuela2,030,790 26Quito Ecuador2,017,260 27La Paz Bolivia1,997,370 28Santa Cruz de la Sierra Bolivia1,955,356 29Montevideo Uruguay1,788,170 30Cordoba Argentina1,640,600 31Rosario Argentina1,631,090 32Natal Brazil1,575,050 33Cochabamba Bolivia1,460,280 34Joao Pessoa Brazil1,447,780 35Bucaramanga Colombia1,411,010 36Maceio Brazil1,387,920 37Joinville Brazil1,374,630 38Florianopolis Brazil1,323,850 39Barquisimeto Venezuela1,281,730 40Maracay Venezuela1,270,320 41Mendoza Argentina1,257,180 42Guarulhos Brazil1,169,577 43Cartagena Colombia1,105,540 44Aracaju Brazil1,081,930 45Teresina Brazil1,068,550 46San Miguel de Tucuman Argentina1,051,040 47Valparaiso Chile1,024,430 48Nova Iguacu Brazil1,002,118 49Ciudad Guayana Venezuela991,388 50Arequipa Peru983,715 Beyond these megacities, Brazil places numerous cities throughout the top 50, including Belo Horizonte, Brasília, Recife, and Fortaleza. Population is not concentrated in a single part of the country, with major cities spread from the south near Uruguay to the north near Venezuela. Major Hubs Across the Southern Cone Argentina, Colombia, and Peru also feature prominently. Buenos Aires ranks second overall, with more than 15 million people, reflecting its status as a political, cultural, and financial hub. Colombia places multiple cities on the list, including Bogotá, Medellín, Cali, and Barranquilla. These cities serve as national anchors for commerce and transportation. Their growth mirrors broader demographic shifts from rural areas into metropolitan regions across the continent. Rising Cities Beyond the Megacities While the top five cities dominate by size, many mid-tier cities are rapidly expanding. Places like Santa Cruz de la Sierra, Campinas, and Arequipa illustrate how secondary cities are absorbing population growth as megacities become more saturated. Learn More on the Voronoi App If you enjoyed today’s post, check out The World’s Safest (and Least Safe) Countries on Voronoi, the new app from Visual Capitalist.

See more visuals like this on the Voronoi app. Use This Visualization Ranked: Top 20 Cities with the Most Billionaires 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 New York leads the world by a wide margin, home to more than 100 billionaires. Asia dominates the ranking, with Chinese and Indian cities accounting for a large share of global billionaire hubs. The global distribution of billionaire wealth is becoming increasingly concentrated in major urban centers. This infographic ranks the world’s top 20 cities by the number of resident billionaires, offering a snapshot of where extreme wealth is clustered in 2025. The data for this visualization comes from Forbes, based on Forbes’ annual global rich list. New York’s Unmatched Lead New York City ranks first by a wide margin, with 109 billionaires calling the city home. Its dominance reflects decades of financial leadership, global capital flows, and a deep concentration of investment firms, real estate wealth, and corporate headquarters. No other city comes close to this level of billionaire density. Even second-place Hong Kong trails New York by more than 30 individuals, highlighting just how unique the city’s wealth ecosystem is. RankCityCountryNumber of Billionaires 1New York United States109 2Hong Kong China (Hong Kong SAR)74 3Moscow Russia73 4Mumbai India69 5Beijing China63 6London United Kingdom62 7Shanghai China54 8Singapore Singapore52 9San Francisco United States50 10Delhi India43 11Shenzhen China37 12Los Angeles United States35 13Taipei Taiwan34 14Hangzhou China31 14Seoul South Korea31 16Paris France28 17Tokyo Japan27 18Bangkok Thailand26 18Milan Italy26 20Dallas United States24 Asia’s Growing Concentration of Wealth Asian cities account for a significant share of the ranking. Hong Kong, Mumbai, Beijing, Shanghai, Singapore, and Shenzhen all place within the top 10. China alone features multiple cities on the list, including Beijing, Shanghai, Shenzhen, Hangzhou, and Guangzhou. India also stands out with Mumbai and Delhi representing the country’s expanding billionaire class. These cities benefit from rapid economic growth, large domestic markets, and strong technology and manufacturing sectors. Europe and North America Still Matter Despite Asia’s rise, traditional wealth centers in Europe and North America remain highly competitive. London, Paris, and Milan continue to host large concentrations of ultra-wealthy residents. Expanding beyond the top 20, U.S. cities such as Dallas, Chicago, and Palm Beach illustrate how billionaire wealth is distributed across America’s finance, technology, energy, and real estate hubs. Smaller but influential cities like Palo Alto highlight the outsized role of tech-driven wealth creation. 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 app from Visual Capitalist.

See more visuals like this on the Voronoi app. Use This Visualization Where People Trust Each Other Most—and Least in the World 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 Social trust is highest in Northern Europe, led by Sweden and the Netherlands. Middle-income countries tend to report much lower trust in others. This visualization shows the share of people across 25 countries who believe that “most people can be trusted,” offering a snapshot of how trust varies around the world. The data for this visualization comes from the Pew Research Center. It is based on nationally representative surveys of more than 37,000 adults conducted in early 2025. High Trust in Northern Europe Northern European countries dominate the top of the ranking. Sweden leads the list, with 83% of respondents saying most people can be trusted. The Netherlands follows closely at 79%, while Canada and Germany both exceed 70%. These countries tend to have strong institutions, low corruption, and robust social safety nets. High levels of trust make cooperation easier, reducing friction in economic and civic life. Divided Views in Major Economies Several large, high-income economies fall closer to the middle of the distribution. In the United States, 55% of people say most people can be trusted, while 44% say they cannot. The UK, Japan, and South Korea show similar splits, with trust still outweighing distrust, but by narrower margins. CountryCan Be TrustedCannot Be TrustedIncome Group Sweden83%17%High-income Netherlands79%20%High-income Canada73%26%High-income Germany72%27%High-income Australia69%31%High-income Japan65%32%High-income UK64%34%High-income South Korea62%37%High-income Spain57%41%High-income United States55%44%High-income Poland50%48%High-income Israel49%43%High-income Hungary46%54%High-income Greece45%53%High-income France44%54%High-income Italy43%56%High-income Indonesia53%47%Middle-income India38%60%Middle-income Nigeria31%68%Middle-income Argentina28%71%Middle-income South Africa27%72%Middle-income Brazil22%77%Middle-income Kenya20%80%Middle-income Mexico18%82%Middle-income Turkey14%84%Middle-income Low Trust in Many Middle-Income Countries Trust levels are substantially lower across most middle-income countries in the survey. Turkey ranks last overall, with just 14% saying most people can be trusted. Mexico, Kenya, and Brazil also report trust levels below 25%. In these countries, respondents are far more likely to say that most people cannot be trusted. Pew notes that lower income levels and less access to education are closely linked to reduced trust. Economic insecurity and weaker institutions may make people more guarded in their interactions. 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.

Prediction Consensus: What the Experts See Coming in 2026 We analyzed over 2,000 predictions from articles, reports, podcasts, and interviews to see what experts are predicting for the coming year. Below, we dig into a few of the top themes. For the seventh straight year, we’ve sifted through the forecast landscape to bring you the Prediction Consensus, a synthesis of what analysts, thought leaders, and industry experts expect for the year ahead. This year, we analyzed over 2,000 individual predictions from a wide variety of sources including Morgan Stanley, Goldman Sachs, the IMF, The Economist, Deloitte, Microsoft, Gartner, and dozens more. By mapping where these forecasts overlap, we’ve distilled the noise into 25 high-conviction themes displayed in our “Bingo Card” format, with the number of dabs reflecting the volume of supporting predictions. To get the full analysis of the Prediction Consensus and to see what’s ahead for 2026, become a member of VC+ or purchase the full Global Forecast Series report and package. The General Vibe of 2026 If 2025 was a year of adjustment—markets recalibrating to higher rates, geopolitics reshuffling around a second Trump administration and tariffs, and AI moving from hype to deployment—then 2026 is shaping up as a year of consolidation and consequence. The consensus mood is cautiously optimistic but shot through with uncertainty. Morgan Stanley describes 2026 as “The Year of Risk Reboot,” a period where market focus shifts from macro anxieties to micro fundamentals, creating fertile ground for risk assets. The policy backdrop is unusually supportive: fiscal stimulus, continued (if slower) monetary easing, and deregulation form what analysts call a “policy triumvirate” rarely seen outside of recessions. Yet The Economist strikes a more sober tone, warning that 2026 will be defined by uncertainty as Trump’s reshaping of geopolitical norms continues to ripple worldwide. The old rules-based order is drifting further, and the line between war and peace grows ever more blurred through gray-zone provocations, cyber incursions, and an ambient rivalry between nations. In short: risk assets may thrive, but the world beneath them remains turbulent. AI: Once Again, the Big Story For the third consecutive year, artificial intelligence dominates the prediction landscape, but the narrative has evolved. Where 2024 forecasts centered on whether AI hype was justified and 2025 focused on deployment at scale, the 2026 conversation is about integration and consequences. From Tool to Partner Across industries, AI is moving beyond answering questions to actively collaborating with people and amplifying their expertise. This is the year of the agentic AI build-out. Deloitte predicts that by year-end 2026, as many as 75% of companies may be investing in agentic AI (autonomous systems that can plan, act, and adapt with limited human oversight). These AI agents are set to become “digital colleagues,” helping small teams punch above their weight. Microsoft envisions a future where a three-person marketing team can launch a global campaign in days, with AI handling data crunching and content generation while humans steer strategy. After years of anticipation, productivity gains from AI are finally expected to materialize in measurable ways. Morgan Stanley points to AI-driven efficiency as one of six key drivers of their bullish earnings outlook. Software and internet companies are expected to see generative AI revenue grow more than 20-fold over the next three years. Of course, AI will impact the job market in other ways as well. Professional and knowledge-worker classes that previously felt insulated are now beginning to feel anxiety around job security. Market Predictions: Riding the AI Wave Conveniently, AI also dominates the market story. The consensus is unmistakably bullish, though tempered by valuation concerns and awareness of concentration risks. S&P 500: Double-Digit Gains Expected Wall Street strategists are clustered in a tight range for year-end 2026 S&P 500 targets: FirmTargetImplied Upside Morgan Stanley7,80015% JPMorgan7,50011% UBS7,50011% CFRA7,40010% Bank of America7,1005% The bull case from JPMorgan sees the index potentially topping 8,000 if the Fed eases more than expected. Morgan Stanley calls it their most bullish outlook in years, driven by returning operating leverage, AI efficiency gains, accommodative tax and regulatory policy, and contained interest rates. Importantly, analysts expect earnings to do the heavy lifting in 2026. Bank of America’s Savita Subramanian projects 14% EPS growth but notes that P/E multiples may actually contract by 10 points, meaning the market climbs a wall of valuation skepticism. Morgan Stanley forecasts S&P 500 EPS of $317 in 2026 (17% growth). Gold’s Super-Cycle Continues Gold remains a favorite. Morgan Stanley targets $4,500 per ounce—about 9% upside from current levels. The World Gold Council notes that gold achieved over 50 all-time highs in 2025 and may post its fourth-strongest annual return since 1971. The drivers are structural: central bank buying, geopolitical hedging, and concerns about fiscal sustainability. In a “doom loop” scenario of accelerating fiscal deterioration, gold could surge 15-30% from current levels. Economic Predictions: Soft Landing, With Caveats The IMF projects global growth at 3.2% in 2025 and 3.1% in 2026—below the pre-pandemic average of 3.7% but not recessionary. Morgan Stanley expects similar numbers: 3.0% global growth in 2025, 3.2% in 2026 and 2027. Advanced economies are expected to grow around 1.5-1.6%, while emerging markets hold above 4%. The consensus is a soft landing: growth moderates, inflation continues its gradual descent, and central banks ease policy—but not aggressively. The “Higher for Longer” Era Fades Central bank policy is expected to continue normalizing. Morgan Stanley’s base case has the Fed cutting to 3.0-3.25% by mid-year and then pausing for an extended period. The BoE is expected to bring rates to 2.75% before pausing. The ECB, facing below-target inflation and sluggish growth, may cut further than markets currently price. Japan remains the outlier: the only major developed market central bank potentially hiking, with the BoJ expected to reach 0.75% by December before pausing. Geopolitical & Trade Predictions: Tariffs and Tensions Tariffs Become the New Normal Perhaps no theme generates more consensus than this: the tariff regime is here to stay. Trump’s reciprocal tariffs are bringing in close to $300 billion in revenue annually, and while they may face legal challenges (Barclays expects the Supreme Court to deem them illegal), the effective tariff rate has peaked at 12.1%—the highest since 1934. The economic impact is being absorbed more gracefully than many feared. UBS expects a “soft patch” in early 2026 as tariffs affect U.S. prices, followed by a broadening and strengthening of growth from Q2 onward. But the structural shift is profound: trade may reroute permanently, supply chains are diversifying, and the U.S. is explicitly using tariffs as a tool of economic leverage. China Leans on Exports and Manufacturing Facing deflation, a property crisis, and slowing domestic growth, China is pivoting to manufacturing and export dominance. The country is positioning itself as a more reliable partner, particularly in the Global South, striking trade agreements as the U.S. retreats from multilateralism. Morgan Stanley expects China’s real GDP to expand 5% in 2026, helped by front-loaded government support. But the strategy creates global tensions: industrial overcapacity could flood world markets, and tariff battles may intensify. Gray-Zone Provocations Increase The Economist warns that Russia and China will test American commitment to allies through “gray-zone” provocations in northern Europe and the South China Sea. Tensions will rise in the Arctic, in orbit, on the sea floor, and in cyberspace. This “ambient rivalry” short of outright war but beyond normal peacetime friction is expected to accelerate. Great-power competition will increasingly involve space-based intelligence, drone technology, and AI-powered cyber operations. Assessing the Consensus History teaches humility about forecasting. Previous years have contained unforeseen developments, and there’s no reason to expect 2026 to unfold precisely as consensus expects. What’s valuable isn’t the specific predictions, but themes where informed observers are concentrating their attention. Examples include the transition from AI experimentation to building out infrastructure to support its widespread use. Or stablecoins becoming mainstream financial instruments. Some of these themes will prove accurate; others will be derailed by events. But taken together, they sketch the landscape that institutions, investors, and policymakers are navigating as they position for the year ahead.

Published 3 hours ago on December 18, 2025 By Jenna Ross Graphics & Design Harrison Schell Twitter Facebook LinkedIn Reddit Pinterest Email The following content is sponsored by Terzo View the full-size version of this graphic Stock Markets in 2025: The Ups, Downs, and Returns Globally Key Takeaways Japan had the highest return of 24% as of December 17, 2025. The U.S. had a 14% return, the second lowest among major stock markets in 2025. Amid trade shocks and strained geopolitical ties, stock markets in 2025 faced a test of resilience. How long did it take them to recover, and which key moments contributed to market rebounds?In this graphic, we explore the performance of major stock markets and the milestones that fueled ups and downs throughout the year. It’s the year-end feature of our Markets in a Minute series with Terzo, which delivers quick economic insights for C-suite executives. Ranking the Returns of Stock Markets in 2025 Using price return data in each market’s local currency, the table below shows the leaders and laggards in 2025 as of December 17. Japan led with a 24% return, four percentage points above the UK in second place.  MarketYTD Return as of Dec. 17, 2025 Japan+24% UK+20% Europe+17% China+16% U.S.+14% India+9% Source: Yahoo Finance, TradingView. U.S. = S&P 500 Index, Europe = Euro Stoxx 50 Index, China = CSI 300 Index, Japan = Nikkei 225 Index, India = Nifty 50 Index, UK = FTSE 100 Index. The chart uses weekly data. Meanwhile, the U.S. had a return of 14%, the second lowest compared to other major stock markets in 2025. The Liberation Day Drop On April 2, the Trump administration announced sweeping tariffs to reduce trade deficits and boost American industry. All of the major stock markets saw declines as investors reassessed trade and growth prospects. If we zoom in to daily data (as opposed to the weekly data shown in the graphic), Japan and Europe were tied for the largest decline. The UK experienced the longest time to recovery.  MarketLiberation Day DropTrading Days to Recovery Europe-13%21 Japan-13%14 U.S.-12%18 UK-11%27 China-8%25 India-4%6 The drop is measured from the market’s close on April 1—just before the Liberation Day announcement—to its subsequent low. Recovery is defined as the number of days it took to return to the April 1 closing value. On the other hand, India had the lowest and shortest drop in response to Liberation Day tariffs. Only 12% of India’s economy is dependent on exporting goods, and merchandise exports to the U.S. make up just 2.1% of the country’s GDP. Rebounds Around the World All major stock markets in 2025 rallied in the wake of Liberation Day.  In Japan, the stock market hit a record high on October 6 after Sanae Takaichi was elected as the leader of the ruling party, putting her on track to become the country’s prime minister. The rally was based on investors’ expectations of stronger government spending and stable monetary policy under Takaichi’s leadership.  The U.S. saw strong gains after reaching a trade agreement with China. American markets were also fueled by rate cuts, earnings growth, and strong consumer spending. This is a special year-in-review edition of our Markets in a Minute series, which delivers quick economic insights for C-suite executives. Explore the full series for more visual market breakdowns. More from Terzo Markets1 week ago Mapped: The Biggest Housing Bubble Risks Globally Which global cities are most at risk of a housing bubble? This new map ranks the world’s most overheated real estate markets. 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See more visualizations like this on the Voronoi app. Use This Visualization Visualizing $261 Trillion in Global Investment Assets 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. makes up 64% of global stock market capitalization, a share sitting at historically elevated levels. European equities and bonds make up 18% of the global investable asset universe. America commands a significant share of global investment assets, with U.S. equities and bonds accounting for 47% of the world portfolio. This dominance is driven in part by the S&P 500’s strong long-term performance and the outsized influence of major U.S. tech firms. At the same time, the dollar’s status as the world’s reserve currency underpins demand for U.S. fixed income. This graphic shows the global portfolio of investable assets, based on data from Goldman Sachs Investment Research. The Global Portfolio of Investment Assets in 2025 Below, we show the value of each asset category in 2025: Asset Class2025 Value U.S. equities$81.8T Asia equities (ex Japan)$15.3T Europe equities (ex UK)$14.1T Japan equities$6.4T UK equities$3.8T Other equities$6.4T U.S. bonds$41.5T Europe bonds$28.0T Asia bonds (ex Japan)$20.3T Other bonds$6.8T Gold$15.7T Private markets$13.1T Real estate$5.2T Crypto$2.6T Total$261T Global equities total $127.9 trillion, and the U.S. alone accounts for 64% of global stock market capitalization. In recent years, AI-driven optimism has pushed U.S. stocks higher, lifting America’s share to its highest level in decades. By comparison, the U.S. represented only about 40% of global equities following the global financial crisis. Meanwhile, Asia ex-Japan ranks a distant second, representing 12% of global investable assets. Yet within the region, performance has diverged sharply. India’s main stock exchange has generated 16% annualized returns over the past five years, while China’s Shanghai Stock Exchange has returned just 2.8% over the same period. Turning to fixed income, global bond markets stand at $96.6 trillion. Here again, the U.S. leads with a 43% share, while Europe follows with 29%. Beyond stocks and bonds, gold stands at $15.7 trillion in value, accounting for 6% of the global portfolio. Cryptocurrencies, meanwhile, remain a small slice of the total, making up 1% of global assets with a market capitalization of $2.6 trillion. Learn More on the Voronoi App To learn more about this topic, check out this graphic on the world’s biggest stock exchanges.

See more visuals like this on the Voronoi app. Use This Visualization The World’s Largest Cities by Population, 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 Asian megacities dominate the rankings, with Jakarta, Dhaka, and Tokyo leading the world in population. Rapid urban growth is increasingly concentrated in Africa and South Asia, while some mature cities are slowing or shrinking. Population growth, migration, and economic opportunity continue to pull millions into major metropolitan areas. At the same time, aging populations and limited space are beginning to slow growth in several long-established megacities. This visualization ranks the largest urban centers on Earth, showing where people are clustering today, and where future growth is likely to occur. The data for this visualization comes from the UN World Urbanization Prospects 2025 report. Defining Cities: There are multiple ways to define city boundaries, for example using administrative boundaries or urban agglomerations. This study by the UN uses satellite mapping of urban footprints to define cities as continuous areas with at least 50,000 people and a population density of 1,500 or more people per square kilometer. Data & Discussion Asia remains the epicenter of global urban population. Indonesia’s capital, Jakarta ranks as the world’s largest city in 2025 with nearly 42 million people, followed closely by Dhaka, Bangladesh, and Tokyo. China and India alone account for a significant share of the top 30 cities, including Shanghai, Guangzhou, New Delhi, and Mumbai. These megacities benefit from large domestic populations, economic concentration, and long-standing roles as regional hubs. RankCityCountryPopulation (2025) 1Jakarta Indonesia41.9M 2Dhaka Bangladesh36.6M 3Tokyo Japan33.4M 4New Delhi India30.2M 5Shanghai China29.6M 6Guangzhou China27.6M 7Cairo Egypt25.6M 8Manila Philippines24.7M 9Kolkata India22.6M 10Seoul South Korea22.5M 11Karachi Pakistan21.4M 12Mumbai India20.2M 13São Paulo Brazil18.9M 14Bangkok Thailand18.2M 15Mexico City Mexico17.7M 16Beijing China17.0M 17Lahore Pakistan15.2M 18Istanbul Türkiye15.0M 19Moscow Russia14.5M 20Ho Chi Minh City Vietnam14.1M 21Buenos Aires Argentina14.0M 22New York City U.S.13.9M 23Shenzhen China13.9M 24Bengaluru India13.2M 25Osaka Japan13.0M 26Lagos Nigeria12.8M 27Los Angeles U.S.12.7M 28Luanda Angola11.4M 29Chennai India11.2M 30Kinshasa DRC10.9M Rapid Growth in Africa and South Asia While Asia dominates in size, the fastest growth is increasingly happening elsewhere. Luanda, Angola’s capital, is the fastest-growing city with an annual rate of about 11% since 2000, driven by high birth rates and rural-to-urban migration. Other African cities like Lagos and Kinshasa are also climbing the rankings, reflecting the continent’s young population and accelerating urbanization. Slowing and Shrinking Megacities Not all large cities are growing fast. Several mature urban centers, including Osaka and Mexico City, are seeing slower growth or outright population decline. Aging populations, lower fertility rates, and limited housing supply are key factors. In high-income countries, urban growth is increasingly shaped by productivity gains rather than population expansion, marking a shift from past decades. Learn More on the Voronoi App If you enjoyed today’s post, check out The Most Populous Countries by the Year 2100 on Voronoi, the new app from Visual Capitalist.

See more visuals like this on the Voronoi app. Use This Visualization Countries With the Most Income Growth for Immigrants 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 Immigrants in Germany see the strongest wage growth, with annual earnings rising by 48% over five years. U.S. immigrant incomes typically grow by 43% between year one and year five. New Zealand and the Netherlands are the only OECD countries where immigrant earnings decline after five years. As immigrants settle into a new country, their earnings typically rise as they gain work experience and integrate into the labor market. However, the pace of earnings growth for immigrants varies across developed economies. While some countries offer strong upward mobility, others show little wage progression or even wage declines over the first five years. This graphic shows the change in immigrants’ average real annual earnings between their first and fifth year in the host-country labor market using data from the OECD’s International Migration Outlook 2025. Where Immigrant Earnings Rise the Fastest Across most OECD countries in the dataset, immigrant earnings grow significantly in the first five years. The table below ranks countries by the percentage increase in average real earnings for immigrants: CountryYear One Earnings (USD)Year Five Earnings (USD)% Change Germany$17,004$25,22448% Sweden$15,936$22,90844% U.S.$27,375$39,16343% Finland$25,872$36,80442% Italy$14,892$19,23629% Canada$29,557$37,61827% Spain$14,304$18,20427% Colombia$2,904$3,63625% Denmark$37,932$46,71623% Austria$10,620$12,81621% France$18,936$22,56019% Portugal$9,300$10,84817% Norway$59,752$67,87714% New Zealand$48,120$45,432-6% Netherlands$26,592$24,864-6% Germany leads the ranking, with a 48% increase in immigrant earnings from year one to year five of entry. Germany is the largest destination for immigrants in the European Union, and around 20% of its population is foreign-born. In the United States, the world’s top destination country for immigrants, earnings rise from $27,375 in year one to $39,163 in year five, an increase of 43% or nearly $12,000. On the other hand, the Netherlands and New Zealand buck the trend of growth in immigrant earnings. In both countries, immigrants on average earn slightly less after five years than they did in their first year, with income falling by 6%. Overall, immigrants across the 15 OECD countries see their earnings rise by an average of 24% within five years. The Immigrant–Native Earnings Gap Based on data from 2000 to 2019, the OECD found that immigrants at entry earned 34% less than native-born workers of the same age and sex. Almost two-thirds of this gap was due to the concentration of immigrants in lower-paying sectors and firms, and the gap narrowed significantly over time. By the fifth year, the gap decreased by 13 percentage points to 21%, and by the tenth year, the gap more than halved, but remained persistent. Much of this convergence came from immigrants shifting into better-paying firms and sectors as they gained experience and credentials, and increased their number of working hours. Learn More on the Voronoi App If you enjoyed today’s post, see The Best Migration Destinations in 2025 on Voronoi.

See more visualizations like this on the Voronoi app. Use This Visualization Housing Affordability in the U.S., by Income Level (2019 vs. 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 Housing affordability has grown significantly out of reach for many Americans compared to 2019 given price growth and elevated mortgage rates. Households earning $100,000 have seen the share of affordable options contract from 65% of listings in 2019 to 37% in 2025. Americans face a lack of affordable homes, even as for-sale inventory climbed 20% since 2024. In the post-pandemic era, higher mortgage rates and a housing market boom have pushed many buyers out of the market. Today, households earning $75,000—a bracket often including professions liks teachers, nurses, and trades workers—can only afford 21% of listings, down from 49% in March 2019. This graphic shows U.S. housing affordability by income level in 2025, based on data from the National Association of Realtors. The State of Affordable Homes in 2025 For the analysis, affordability was determined using typical mortgage underwriting practices. Specifically, it used a 30-year fixed-rate mortgage, with 30% of income for financing, taxes, and insurance. It also includes mortgage insurance for down payments under 20%. Household IncomeShare of Listings Buyers Can Afford March 2025Share of Listings Buyers Can AffordMarch 2019 Less than $15K1%4% $25K2%9% $35K4%16% $50K9%28% $75K21%49% $100K37%65% $125K52%75% $150K63%81% $200K76%89% $250K84%92% $500K94%97% $500K+100%100% As we can see, households earning $50,000 could afford 28% of listings in 2019, but now it has shrunk to just 9%. Households earning $50,000 represent a third of the U.S. population, with homes under around $170,000 in their price range. Similarly, the share of affordable homes for many other lower-income households has contracted by at least three-quarters. Yet even higher income households have seen notable contractions. In 2019, a household earning $150,000 could afford 82% of new listings, but now it has fallen to 62%. Ultimately, about 480,000 fewer listings are accessible to this income tier in just six years, based on a maximum affordable price of $510,000. Learn More on the Voronoi App To learn more about this topic, check out this graphic on North America’s least affordable housing markets in 2025.

See more visualizations like this on the Voronoi app. Use This Visualization Visualizing the $117 Trillion World Economy 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 U.S., China, and Germany are the top three countries by GDP in 2025. India ranks in fifth, averaging 6.4% in real GDP growth since 2000. America’s $30.6 trillion economy is greater than China, Germany, and Japan combined, with real GDP set to rise 2% this year. In comparison, India’s economy is projected to grow 6.6%, among the fastest rates across the world’s largest economies. It is only surpassed by Ireland, as frontloading of exports is expected to expand GDP by a striking 9.1% in 2025. This graphic shows the state of the world economy in 2025, based on projections from the IMF’s latest World Economic Outlook. Ranked: The Biggest Countries in the World Economy Below, we rank the 50 largest economies globally, highlighting their historical growth trends: RankCountryGDP 2025Real GDPGrowth2000-2025 CumulativeReal GDP Growth2000-2025Average AnnualReal GDP Growth 1 U.S.$30.6T2.0%69.0%2.1% 2 China$19.4T4.8%585.7%8.0% 3 Germany$5.0T0.2%27.8%1.0% 4 Japan$4.3T1.1%16.6%0.6% 5 India$4.1T6.6%364.1%6.4% 6 UK$4.0T1.3%44.6%1.5% 7 France$3.4T0.7%35.0%1.2% 8 Italy$2.5T0.5%9.8%0.4% 9 Russia$2.5T0.6%107.3%3.0% 10 Canada$2.3T1.2%59.4%1.9% 11 Brazil$2.3T2.4%75.1%2.3% 12 Spain$1.9T2.9%50.6%1.7% 13 Mexico$1.9T1.0%44.4%1.5% 14 South Korea$1.9T0.9%131.3%3.4% 15 Australia$1.8T1.8%92.7%2.7% 16 Türkiye$1.6T3.5%228.3%5.0% 17 Indonesia$1.4T4.9%233.4%4.9% 18 Netherlands$1.3T1.4%43.9%1.5% 19 Saudi Arabia$1.3T4.0%154.1%3.9% 20 Poland$1.0T3.2%138.5%3.6% 21 Switzerland$1.0T0.9%54.9%1.8% 22 Taiwan$884B3.7%144.2%3.7% 23 Belgium$717B1.1%46.4%1.6% 24 Ireland$709B9.1%243.3%5.2% 25 Argentina$683B4.5%54.2%1.9% 26 Sweden$662B0.7%56.8%1.8% 27 Israel$611B2.5%132.1%3.5% 28 Singapore$574B2.2%196.8%4.5% 29 UAE$569B4.8%155.9%3.9% 30 Austria$566B0.3%36.0%1.3% 31 Thailand$559B2.0%116.2%3.2% 32 Norway$517B1.2%47.5%1.6% 33 Philippines$494B5.4%234.5%5.0% 34 Vietnam$485B6.5%372.0%6.4% 35 Bangladesh$475B3.8%318.5%5.9% 36 Malaysia$471B4.5%196.2%4.5% 37 Denmark$460B1.8%40.8%1.4% 38 Colombia$438B2.5%135.8%3.5% 39 Hong Kong SAR$428B2.4%92.2%2.7% 40 South Africa$426B1.1%67.2%2.1% 41 Romania$423B1.0%134.4%3.5% 42 Pakistan$410B2.7%158.7%3.9% 43 Czechia$383B2.3%77.0%2.4% 44 Iran$357B0.6%110.2%3.1% 45 Egypt$349B4.3%185.5%4.3% 46 Chile$347B2.5%125.5%3.4% 47 Portugal$338B1.9%26.3%1.0% 48 Peru$318B2.9%170.7%4.2% 49 Finland$315B0.5%30.4%1.1% 50 Kazakhstan$300B5.9%288.2%5.6% As we can see, the U.S. economy has grown nearly 70% in the past quarter-century, in inflation-adjusted terms. On an annual basis, the average growth rate was 2.1%, the third-fastest across the 10 largest economies today. For perspective, India has grown at more than triple this rate over the last 25 years, helping grow its GDP to $4.1 trillion. By next year, it is forecast to surpass Japan as the fourth-biggest economy. Germany, on the other hand, has seen notably sluggish growth for decades. In both 2023 and 2024, the economy contracted, while growth is expected to be just 0.2% this year. Along with weak productivity growth, its manufacturing sector has been in decline since 2018. Similarly many European countries have averaged less than 2% growth over the last 25 years. Italy, the eighth-biggest economy, has averaged just 0.4% GDP growth, while in France, it has been just 1.2%. Learn More on the Voronoi App To learn more about this topic, check out this graphic on the U.S. states with the fastest GDP growth since 1998.

See more visualizations like this on the Voronoi app. Use This Visualization America’s Data Center Capacity Shortfall 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 Rapid growth in power-hungry AI models is expected to push U.S. data center demand beyond available capacity through 2028. The projected power gap—10 gigawatts (GW) by 2028—is comparable to the electricity needed to power roughly 7.5 million homes for an entire year. Hyperscalers like Google, Meta, and Amazon are set to spend a combined $325 billion on capital expenditures this year, mainly for data centers. But this massive spending is being met with constraints in the physical world. This year, data center capacity faces about an 11 GW shortfall. Supply chain pressures, from limited land and grid capacity to ongoing chip shortages, remain headwinds to data center buildouts. This graphic shows U.S. data center supply and demand through to 2028, based on estimates from Goldman Sachs. U.S. Data Center Capacity Supply and Demand Below, we show how data center supply faces a huge shortfall in the coming years: YearU.S. Data Center CapacityDemand (GW)U.S. Data Center CapacitySupply (GW)Data Center CapacityShortfall (GW) 202324.014.2-9.8 202429.721.1-8.6 2025P38.126.7-11.4 2026P49.840.5-9.3 2027P62.753.0-9.7 2028P77.067.0-10.0 For perspective, a large data center is estimated to need as much power as 400,000 electric vehicles annually. As AI adoption grows, “inferencing” will see higher demand. This is when AI responds to a query, rather than training the models themselves. When data centers are located closer to cities, it creates faster responses, but there is a shortage of land and electricity needed to support this. Moreover, data center vacancy rates are at all-time lows of 3%. When it comes to power needs, natural-gas turbines face yearslong waits and long construction timelines. In turn, tech companies are looking to alternative—and sometimes more expensive sources—such as smaller natural-gas turbines that are more readily accessible. Even so, the data center shortfall is forecast to be 9.3 GW in 2026, rising to 10 GW by 2028. Learn More on the Voronoi App To learn more about this topic, check out this graphic on the world’s data centers.

See more visualizations like this on the Voronoi app. Use This Visualization Visualizing $2.4 Trillion in Energy Transition Spending 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 energy transition investment hit a record $2.4 trillion in 2024, up 20% from 2022-2023 average spending levels. Electric vehicle investment surged 33% to reach $763 billion, while solar power climbed 49% versus the previous benchmark. Energy transition spending is booming worldwide, as EVs and renewable power expand their market share. While average global spending in renewable energy was $662 billion between 2022 and 2023, it grew to $807 billion in 2024. Not only that, 92% of new U.S. electricity additions will be powered by clean sources this year and next. This graphic shows global energy transition investment in 2024, based on data from the Climate Policy Institute and IRENA. Global Energy Transition Investment by Category Below, we show investment across key categories in the energy transition, from wind energy and power grids to battery storage: CategoryGlobal Investment 2024(USD)Growth vs 2022/2023Average Solar PV$554B49% Solar Thermal$12B-32% Wind Energy$196B-11% Other Renewables$19B-61% Electric Vehicles$763B33% EV Charging Infrastructure$39B27% Power Grids$359B14% Energy Efficiency$346B3% Battery Storage$54B73% Green Hydrogen$8B-20% Global Total$2.4T20% Overall, EVs and solar power were the two largest categories, driving 55% of the total last year. China accounted for 49% global investment in battery EVs in 2024, supported by government policies. At the same time, nearly 1.8 million EV charging points were built, more than the rest of the world combined. Meanwhile, investment in battery storage was the fastest-growing segment, rising 73% in 2024 versus the 2022-2023 average. What’s more, investment was 11 times higher than 2019-2020 levels given lower costs and efficiency improvements. Investment in power grids also saw meaningful growth, rising 14% to reach $359 billion. Globally, spending is forecast to continue rising to support EVs and renewable energy generation. In contrast, wind energy spending declined to $196 billion given permitting timelines and rising financing costs, particularly for offshore wind. As a result, many offshore wind projects were canceled in the U.S., and are expected to continue looking ahead. Learn More on the Voronoi App To learn more about this topic, check out this graphic on future solar power capacity by country.