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The World’s Billionaire Population, by Country


The Relationship Between Wealth and Happiness, by Nation

All through historical past, the pursuit of happiness has been a preoccupation of mankind.

After all, we people should not simply content material with measuring our personal happiness, but in addition our happiness in relation to the folks round us—and even different folks around the globe. The annual World Happiness Report, which makes use of international survey information to report how folks consider their very own lives in additional than 150 international locations, helps us do exactly that.

The components that contribute to happiness are as subjective and particular because the billions of people they affect, however there are just a few which have continued to resonate over time. Household. Love. Goal. Wealth. The primary three examples are powerful to measure, however the latter might be analyzed in a data-driven manner.

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

Wealth and Happiness

To crunch the numbers, we checked out information from Credit score Suisse, which breaks down the typical wealth per grownup in numerous international locations around the globe.

The desk beneath seems at 146 international locations by their happiness rating and wealth per grownup:

Nation Median Wealth per Grownup (US$) Happiness Rating
🇫🇮 Finland 73,775 7.8
🇩🇰 Denmark 165,622 7.6
🇮🇸 Iceland 231,462 7.6
🇨🇭 Switzerland 146,733 7.5
🇮🇱 Israel 80,315 7.4
🇸🇪 Sweden 89,846 7.4
🇳🇴 Norway 117,798 7.4
🇳🇱 Netherlands 136,105 7.4
🇱🇺 Luxembourg 259,899 7.4
🇦🇹 Austria 91,833 7.2
🇳🇿 New Zealand 171,624 7.2
🇦🇺 Australia 238,072 7.2
🇩🇪 Germany 65,374 7.0
🇺🇸 United States 79,274 7.0
🇮🇪 Eire 99,028 7.0
🇨🇦 Canada 125,688 7.0
🇨🇿 Czech Republic 23,794 6.9
🇬🇧 United Kingdom 131,522 6.9
🇧🇪 Belgium 230,548 6.8
🇫🇷 France 133,559 6.7
🇧🇭 Bahrain 14,520 6.6
🇨🇷 Costa Rica 14,662 6.6
🇦🇪 United Arab Emirates 21,613 6.6
🇸🇮 Slovenia 67,961 6.6
🇸🇦 Saudi Arabia 15,495 6.5
🇺🇾 Uruguay 22,088 6.5
🇷🇴 Romania 23,675 6.5
🇽🇰 Kosovo 46,087 6.5
🇸🇬 Singapore 86,717 6.5
🇹🇼 Taiwan 93,044 6.5
🇪🇸 Spain 105,831 6.5
🇮🇹 Italians 118,885 6.5
🇱🇹 Lithuania 29,679 6.4
🇸🇰 Slovakia 45,853 6.4
🇶🇦 Qatar 83,680 6.4
🇲🇹 Malta 84,390 6.4
🇧🇷 Brazil 3,469 6.3
🇵🇦 Panama 13,147 6.3
🇬🇹 Guatemala 30,586 6.3
🇪🇪 Estonia 38,901 6.3
🇳🇮 Nicaragua 3,694 6.2
🇰🇿 Kazakhstan 12,029 6.2
🇷🇸 Serbia 14,954 6.2
🇨🇱 Chile 17,747 6.2
🇱🇻 Latvia 33,884 6.2
🇨🇾 Cyprus 35,300 6.2
🇺🇿 Uzbekistan 7,821 6.1
🇸🇻 El Salvador 11,372 6.1
🇲🇽 Mexico 13,752 6.1
🇵🇱 Poland 23,550 6.1
🇭🇺 Hungary 24,126 6.1
🇲🇺 Mauritius 27,456 6.1
🇰🇼 Kuwait 28,698 6.1
🇭🇷 Croatia 34,945 6.1
🇦🇷 Argentina 2.157 6.0
🇭🇳 Honduras 15,380 6.0
🇵🇹 Portugal 61,306 6.0
🇯🇵 Japan 122,980 6.0
🇵🇭 Philippines 3.155 5.9
🇯🇲 Jamaica 5,976 5.9
🇲🇩 Moldova 7,577 5.9
🇹🇭 Thailand 8,036 5.9
🇬🇷 Greece 57,595 5.9
🇰🇷 South Korea 89,671 5.9
🇰🇬 Kyrgyzstan 2,238 5.8
🇲🇳 Mongolia 2,546 5.8
🇨🇴 Colombia 4,854 5.8
🇧🇾 Belarus 12,168 5.8
🇧🇦 Bosnia and Herzegovina 15,283 5.8
🇲🇾 Malaysia 8,583 5.7
🇩🇴 Dominican Republic 22,701 5.7
🇵🇾 Paraguay 3,644 5.6
🇧🇴 Bolivia 3,804 5.6
🇵🇪 Peru 5.445 5.6
🇨🇳 China 24,067 5.6
🇻🇳 Vietnam 4,559 5.5
🇷🇺 Russia 5,431 5.5
🇪🇨 Ecuador 5,444 5.5
🇹🇲 Turkmenistan 9,030 5.5
🇲🇪 Montenegro 30,739 5.5
🇳🇵 Nepal 1,437 5.4
🇹🇯 Tajikistan 1,844 5.4
🇦🇲 Armenia 9,411 5.4
🇧🇬 Bulgaria 17,403 5.4
🇭🇰 Hong Kong SAR 173,768 5.4
🇱🇾 Libya 6,512 5.3
🇧🇩 Bangladesh 3,062 5.2
🇿🇦 South Africa 4,523 5.2
🇮🇩 Indonesia 4,693 5.2
🇦🇿 Azerbaijan 5,022 5.2
🇨🇮 Côte d’Ivoire 6,621 5.2
🇦🇱 Albania 15,363 5.2
🇲🇰 North Macedonia 51,788 5.2
🇬🇲 The Gambia 658 5.2
🇱🇷 Liberia 1,464 5.1
🇱🇦 Laos 1,610 5.1
🇩🇿 Algeria 2,302 5.1
🇺🇦 Ukraine 2,529 5.1
🇲🇦 Morocco 3,874 5.1
🇨🇬 Congo 582 5.1
🇸🇳 Senegal 1,570 5.0
🇬🇪 Georgia 4,223 5.0
🇬🇦 Gabon 4,685 5.0
🇲🇿 Mozambique 345 5.0
🇳🇪 Niger 492 5.0
🇨🇲 Cameroon 941 5.0
🇬🇭 Ghana 2,198 4.9
🇮🇶 Iraq 6,378 4.9
🇻🇪 Venezuela 7,341 4.9
🇮🇷 Iran 7,621 4.9
🇬🇳 Guinea 938 4.9
🇹🇷 Turkey 8,001 4.7
🇧🇫 Burkina Faso 622 4.7
🇰🇲 Comoros 1,466 4.6
🇳🇬 Nigeria 1,474 4.6
🇰🇭 Cambodia 2,031 4.6
🇺🇬 Uganda 646 4.6
🇧🇯 Benin 890 4.6
🇵🇰 Pakistan 2,187 4.5
🇳🇦 Namibia 3.677 4.5
🇰🇪 Kenya 3,683 4.5
🇹🇳 Tunisia 6,177 4.5
🇲🇱 Mali 869 4.5
🇲🇲 Myanmar 2,458 4.4
🇱🇰 Sri Lanka 8,802 4.4
🇨🇩 DR Congo 356 4.4
🇪🇬 Egypt 6,329 4.3
🇹🇩 Chad 355 4.3
🇲🇬 Madagascar 666 4.3
🇲🇷 Mauritania 1.037 4.2
🇾🇪 Yemen 1,223 4.2
🇪🇹 Ethiopia 1,527 4.2
🇯🇴 Jordan 10,842 4.2
🇹🇬 Togo 468 4.1
🇮🇳 India 3,194 3.8
🇲🇼 Malawi 606 3.8
🇿🇲 Zambia 692 3.8
🇹🇿 Tanzania 1,433 3.7
🇭🇹 Haiti 193 3.6
🇸🇱 Sierra Leone 370 3.6
🇧🇼 Botswana 3,680 3.5
🇱🇸 Lesotho 264 3.5
🇷🇼 Rwanda 1,266 3.3
🇱🇧 Lebanon 18,159 3.0
🇸🇸 South Sudan 2.677 2.9
🇦🇫 Afghanistan 734 2.4

Whereas the outcomes do not definitively level to wealth contributing to happiness, there’s a robust correlation throughout the board. Broadly talking, the world’s poorest international locations have the bottom happiness scores, and the richest report being the happiest.

Regional and Nation-Stage Observations

Whereas lots of the international locations comply with an apparent pattern (extra wealth = extra happiness), there are nuances and outliers price exploring.

  • In Latin Americafolks self-report extra happiness than the pattern between wealth and happiness would predict.
  • On the flip facet, many countries within the Center East report barely much less happiness than ranges of wealth would predict.
  • Political turmoil, an financial disaster, and the devastating explosion in Beirut have resulted in Lebanon scoring far worse than can be anticipated. Over the previous decade, the nation’s rating has fallen by practically two full factors.
  • Hong Kong has seen its happiness rating sink for years now. Inequality, protests, instability, and now COVID-19 outbreaks have positioned the area in an uncommon zone on the chart: wealthy and sad.

Inspecting Inequality and Happiness

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

The Gini Coefficient is a device that permits us to do exactly that. This measure seems at revenue distribution throughout a inhabitants, and applies a rating to that inhabitants. Merely put, a rating of 0 can be “excellent equality”, and 1 can be “excellent inequality” (ie a person or group of recipients is receiving the complete revenue distribution).

Mixed with the identical happiness scale as earlier than, that is how international locations form up.

Data visualization showing the relationship between inequality and happiness around the world

Whereas there isn’t a ironclad conclusion that may be derived from this dataset, there are massive image observations price highlighting.

The 15 International locations With the Highest Earnings Inequality

International locations with Excessive inequality Happiness Rating Gini Rating
🇿🇦 South Africa 5.2 0.63
🇳🇦 Namibia 4.5 0.59
🇿🇲 Zambia 3.8 0.57
🇨🇴 Colombia 5.8 0.54
🇲🇿 Mozambique 5.0 0.54
🇧🇼 Botswana 3.5 0.53
🇿🇼 Zimbabwe 3.0 0.50
🇵🇦 Panama 6.3 0.50
🇨🇷 Costa Rica 6.6 0.49
🇧🇷 Brazil 6.3 0.49
🇬🇹 Guatemala 6.3 0.48
🇭🇳 Honduras 6.0 0.48
🇧🇫 Burkina Faso 4.7 0.47
🇪🇨 Ecuador 5.5 0.47
🇨🇲 Cameroon 5.0 0.47
Common 5.2 52

First, international locations with decrease revenue inequality are inclined to additionally report extra happiness. The 15 international locations on this dataset with the best inequality (proven above) have a median happiness rating of 1.3 decrease than the 15 international locations with the bottom inequality (proven beneath).

The 15 International locations With the Lowest Earnings Inequality

International locations with low inequality Pleased Rating Gini Rating
🇸🇰 Slovakia 6.4 23.2
🇧🇾 Belarus 5.8 24.4
🇸🇮 Slovenia 6.6 24.4
🇦🇲 Armenia 5.4 25.2
🇨🇿 Czech Republic 6.9 25.3
🇺🇦 Ukraine 5.1 25.6
🇲🇩 Moldova 5.9 26
🇦🇪 United Arab Emirates 6.6 26
🇮🇸 Iceland 7.6 26.1
🇧🇪 Belgium 6.8 27.2
🇩🇰 Denmark 7.6 27.7
🇫🇮 Finland 7.8 27.7
🇳🇴 Norway 7.4 27.7
🇰🇿 Kazakhstan 6.2 27.8
🇭🇷 Croatia 6.1 28.9
Common 6.5 26

Subsequent, fascinating regional variations emerge.

Regardless of excessive revenue inequality, many Latin American international locations report ranges of happiness just like many much-wealthier European nations.

The Backside Line

Individuals have been looking for understanding on happiness for millennia now, and it is unlikely that slicing and dicing datasets will crack the code. Nonetheless although, very similar to the pursuit of happiness, the pursuit of understanding is human nature.

And, in additional concrete phrases, the extra policymakers and the general public perceive the hyperlink between wealth and happiness, the extra doubtless we are able to form societies that give us a greater probability at residing a contented life.

The place does this information come from?

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

Knowledge notes: This visualization contains international locations that had obtainable information for each happiness and wealth per grownup. Credit score Suisse notes that attributable to incomplete information, the next international locations are estimates of common wealth per grownup: North Macedonia, Kosovo, Guatemala, Dominican Republic, Honduras, Uzbekistan, Côte d’Ivoire, and South Sudan. Happiness information for international locations is from the 2022 report, except: Qatar, DRC, Haiti, and South Sudan, which pull from the 2019 report. For Gini Coefficient calculations, solely international locations with information from 2014 onwards have been included. Because of this, main economies similar to India and Japan are excluded from that visualization.

Chart notes: The wealth axis was plotted logarithmically to higher present the pattern visually. This strategy is usually used when a small variety of outcomes skew the visualization, making it more durable to glean perception from. On this case, there are massive extremes between the richest and poorest international locations around the globe.

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