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Ranked: The Countries With the Most Data Centers
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Ranked: The Countries With the Most Data Centers
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Key Takeaways
The U.S. hosts 43% of the world’s data centers, with 4,088 total.
Germany and the UK are nearly tied for second place, separated by just one facility.
Europe’s FLAP-D corridor remains a global hub for cloud and AI infrastructure.
The U.S. is home to 43% of the world’s data centers, by far the largest share globally.
As artificial intelligence scales, countries are racing to build the infrastructure needed to support it both now and in the future.
Because AI applications require low latency, data centers are increasingly being built closer to end users—fueling a global expansion in capacity.
This treemap graph visualizes which countries have the most data centers, using data from Data Center Map as of March 2026.
Which Country Has the Most Data Centers?
Most of the world’s data centers are in the U.S., at 4,088, which is more than eight times higher than the next country. AI penetration is greater in developed countries, so it also makes sense that data center locations skew this way.
RankCountry Number of Data Centers
1 United States4,088
2 Germany507
3 United Kingdom506
4 China369
5 France346
6 Canada286
7 India278
8 Australia270
9 Japan255
10 Italy216
11 Brazil204
12 Spain195
13 Netherlands187
14 Indonesia185
15 Russia181
16 Ireland127
17 Switzerland114
18 Sweden110
19 Finland105
20 Poland99
21 Norway92
22 Denmark82
23 Türkiye76
24 Mexico64
25 Romania63
26 Austria53
27 Belgium48
28 Portugal45
29 Ukraine37
30 Bulgaria31
31 Czechia26
31 Greece26
33 Latvia24
34 Lithuania20
34 Slovenia20
36 Cyprus18
37 Hungary17
38 Luxembourg16
38 Croatia16
40 Slovakia13
40 Serbia13
42 Estonia12
42 Iceland12
42 Malta12
45 North Macedonia7
46 Moldova6
47 Georgia4
47 Bosnia and Herzegovina4
49 Monaco3
49 Azerbaijan3
51 Belarus2
Germany, which has the largest population in the European Union, is the second most data center-dense country at 507. The UK is close behind at 506.
Many data centers are clustered around the traditional FLAP-D corridor of Frankfurt, London, Amsterdam, Paris, and Dublin, which are close to metropolitan hubs and financial markets that need fast cloud and, increasingly, AI connections.
It makes sense, then, that France trails closely at 346, though China sits between it and the UK at 369 data centers.
Canada, India, and Australia—large countries with ample land to develop—are next in line, home to 270 data centers or more.
At the bottom of the dataset is Belarus, with two data centers, along with Monaco and Azerbaijan, which both have three.
The Future of Data Centers
As the world aggressively builds out its data center capacity, key questions remain around where infrastructure will go, given the finite nature of land and resources.
Some developers are investing in co-benefits for local communities to aid buy-in. In Ireland, for instance, which had a moratorium on data centers until late last year, an AWS data center feeds its excess heat into a district heating network for social housing and public buildings.
Others are exploring more radical ideas, like putting data centers into orbit.
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To learn more about AI, check out this graphic, which shows which countries use Claude.ai the most.
Ranked: Where Unemployment Is Highest in America
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Ranked: Where Unemployment Is Highest in America
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Key Takeaways
Washington, D.C. had the highest unemployment rate in December 2025 at 6.7%, far above the 4.4% national average.
Delaware saw the largest year-over-year increase, rising 1.6 percentage points from December 2024.
California, New Jersey, Delaware, and Oregon ranked among the highest-unemployment labor markets at the end of 2025.
The U.S. unemployment rate stood at 4.4% in December 2025, but conditions varied sharply across states. Washington, D.C. stood out as a clear outlier, while several coastal labor markets continued to post elevated jobless rates.
This graphic ranks U.S. states by unemployment rate in December 2025 and shows the 12-month change from December 2024, based on data from the Bureau of Labor Statistics.
Three patterns stand out: D.C. at the top by a wide margin, Delaware recording the sharpest increase, and persistently higher unemployment across parts of the West Coast.
D.C. the Clear Outlier for Unemployment
Washington, D.C. had the highest unemployment rate in the country in December 2025 at 6.7%, up 1.4% from a year earlier and well above the national average.
The data below includes unemployment rates by state in December 2024 and December 2025.
StateDec. 2025 unemployment rateDec. 2024 unemployment rate12-month change
D.C.6.75.31.4
California5.55.50
New Jersey5.44.60.8
Delaware5.23.61.6
Nevada5.25.8-0.6
Oregon5.24.30.9
Michigan5.05.2-0.2
Alaska4.84.70.1
Massachusetts4.84.10.7
South Carolina4.84.40.4
Washington4.74.40.3
Illinois4.64.9-0.3
New York4.64.40.2
West Virginia4.64.10.5
Kentucky4.55.3-0.8
Ohio4.54.50
Arizona4.33.80.5
Florida4.33.40.9
New Mexico4.34.30
Rhode Island4.34.5-0.2
Texas4.34.20.1
Arkansas4.23.60.6
Connecticut4.23.21
Louisiana4.24.6-0.4
Maryland4.23.11.1
Pennsylvania4.23.70.5
Minnesota4.13.01.1
Missouri3.93.60.3
North Carolina3.93.70.2
Colorado3.84.6-0.8
Kansas3.83.80
Mississippi3.73.60.1
Georgia3.63.60
Idaho3.63.8-0.2
Oklahoma3.63.30.3
Tennessee3.63.7-0.1
Utah3.63.30.3
Virginia3.62.90.7
Indiana3.54.4-0.9
Iowa3.53.30.2
Montana3.42.90.5
Wyoming3.43.5-0.1
Maine3.23.4-0.2
New Hampshire3.12.80.3
Wisconsin3.13.10
Nebraska32.90.1
Alabama2.73.3-0.6
North Dakota2.62.50.1
Vermont2.62.50.1
Hawaii2.23-0.8
South Dakota2.21.90.3
D.C. had a challenging 2025, being impacted more than any anywhere else by the massive federal workforce reduction which saw over 300,000 government employees dismissed through either layoffs or voluntary resignation offers.
While not all of these workers were D.C.-based, the nation’s capital was at the center of reductions in force, as over 10% of the city’s population are employed by the federal government, compared to less than 3% nationally.
Highest and Lowest Unemployment in the U.S.
After D.C., the highest unemployment rates were in California (5.5%), New Jersey (5.4%), and Delaware and Oregon (both 5.2%).
When also considering Washington (4.7%), the West Coast average unemployment rate was over 5.1%, higher than any other region nationwide.
At the other end of the ranking, Hawaii and South Dakota (both 2.2%) had the lowest unemployment rates in the country, with Hawaii also seeing a 0.8% year-over-year drop.
Biggest Changes in Unemployment in 2025
Hawaii was not alone in seeing a notable decline in unemployment. Colorado and Kentucky each posted 0.8% drops over the course of 2025, while Indiana saw a slightly larger 0.9% reduction over the same period.
Delaware had the biggest increase in unemployment between December 2024 and December 2025 at 1.6%, followed by Maryland and Minnesota (both 1.1%).
These states saw the sharpest year-over-year changes in 2025, while California stood out for having one of the country’s highest unemployment rates with no change from a year earlier.
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If you enjoyed today’s post, check out Unemployment Rates in OECD Countries on Voronoi.
Ranked: GDP Per Capita Growth in Major Economies (2000–2026)
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GDP Per Capita Growth in Major Economies (2000–2026)
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Key Takeaways
China’s GDP per capita increased more than 10x since 2000—the fastest among major economies.
Russia and India also saw large gains, with GDP per capita rising 811% and 589%, respectively.
Japan is the only country where GDP per capita declined over the past 25 years.
Over the last 25 years, economic output per person has grown at very different speeds across the world’s largest economies.
This chart ranks GDP per capita growth across 15 major economies from 2000 to 2026, based on data from the International Monetary Fund, highlighting where living standards have improved the most.
The data shows a clear divide: emerging markets like China and India recorded rapid gains in output per person, while advanced economies saw slower, more uneven growth, with Japan standing out as the only country where GDP per capita declined.
A Quarter Century of Uneven Growth
Among major economies, China leads by far, with GDP per capita rising from roughly $1.0K in 2000 to $14.7K in 2026, a 1,430% increase.
This means China added more output per person, in percentage terms, than any other major economy, fundamentally reshaping its position in the global middle class. India also recorded significant gains, with GDP per capita climbing from $0.4K to $3.1K, among the sharpest rises globally.
CountryGDP Per Capita 2000GDP Per Capita 2026Change 2000-2026
China$1.0K$14.7K1,430%
Russia$1.9K$17.3K811%
India$0.4K$3.1K589%
South Korea$12.7K$37.5K195%
Brazil$3.8K$10.7K185%
Spain$14.7K$40.6K176%
Germany$24.2K$63.6K163%
U.S.$36.3K$92.9K156%
Canada$24.3K$58.2K140%
France$22.5K$51.7K130%
Italy$20.2K$45.9K127%
UK$28.3K$60.0K112%
Mexico$7.5K$15.1K102%
Australia$20.9K$41.0K96%
Japan$39.2K$36.4K-7%
Russia saw GDP per capita jump 811%, marking a robust economic turnaround following the country’s financial collapse in 1998.
Around 2000, Russia began ramping up oil production after decades of decline, driving its economic recovery. While state control of energy assets stood at around 10% in 2000, it grew to nearly 50% in less than a decade.
Meanwhile, South Korea’s GDP per capita more than tripled to reach $37.5K, owing to its manufacturing prowess. Since 2000, it has transformed from an emerging to an advanced economy, with GDP per capita now exceeding Japan’s.
Similarly, GDP per capita in Brazil grew notably, fueled by a commodity boom in the 2000s, although growth slowed in the decade that followed.
Advanced Economies See Slower Growth
While rich nations saw comparatively lower growth than developing markets, a wide gap emerged within this group.
Overall, Spain experienced the fastest growth, with GDP per capita rising 176%. In 2025, it grew at nearly twice the rate of eurozone countries, supported by domestic consumption and tourism.
Germany, meanwhile, saw GDP per capita increase 163%, even outpacing the U.S.’s gain of 156%. Yet unlike Spain, Germany has recently faced dismal growth amid weaker exports.
Japan stands alone as the only major economy where GDP per capita is lower today than in 2000. Compared to 2000, GDP per capita has contracted 7%, due to a mix of low inflation, slow population growth, and years of economic stagnation.
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To learn more about this topic, check out this graphic on G7 vs. BRICS countries’ share of the global economy since 1980.
Charted: The Global Stock Selloff as Oil Fears Rise
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Charted: The Global Stock Selloff as Oil Fears Rise
Key Takeaways
Major global stock indexes have fallen between 5% and 10% over the past month as war rattles the Middle East.
Energy market disruptions—especially around the Strait of Hormuz—have become a central driver of volatility.
European and Asian markets saw deeper declines than U.S. equities, reflecting heightened exposure to energy shocks.
Global equities had a turbulent month as markets reacted to the economic fallout from the ongoing Iran war. According to FactSet data via the New York Times, investors grappled with rising uncertainty, supply disruptions, and the growing risk of a broader regional conflict.
Below, we break down how major stock indexes performed over the past month.
IndexLocationMonthly LowDecline (Feb 27 to Mar 27, 2026)
S&P 500–6%–6%
FTSE 100–9%–8%
DAX–11%–10%
Shanghai Composite–8%–5%
Hang Seng–8%–5%
Nikkei 225–12%–7%
Across the board, markets declined, with Frankfurt and Tokyo among the hardest hit. While New York saw relatively milder losses, nearly every index ended the period firmly in negative territory.
Energy Markets at the Center of the Storm
At the heart of the selloff is energy. The Iran war has intensified concerns over oil supply, particularly as attacks on infrastructure and shipping routes threaten global flows.
The Strait of Hormuz—a critical chokepoint for roughly a fifth of global oil shipments—has emerged as a major flashpoint. Any disruption here has immediate ripple effects across energy prices and investor sentiment.
Rising oil prices have compounded inflation concerns, forcing central banks and investors alike to reassess growth expectations. As well, institutions like the IEA are warning of a “major threat” to global growth and economists already flagging downward GDP revisions in energy-importing regions.
Why Global Markets Are Reacting Differently
Not all markets have responded equally. European indexes like Frankfurt have seen sharper drops, reflecting the region’s heavier reliance on imported energy. Similarly, Asian markets, particularly Japan, have shown heightened sensitivity due to energy dependency and trade exposure.
Meanwhile, U.S. markets have been somewhat more resilient, supported by domestic energy production and relatively diversified economic drivers.
Still, volatility remains elevated across all regions, with investors increasingly pricing in geopolitical risk.
Investor Uncertainty and What Comes Next
Beyond energy, the broader concern is uncertainty. Markets tend to dislike unpredictability, and the evolving nature of the Iran conflict, combined with risks of escalation, has made forecasting particularly difficult. Notably, many analysts had entered 2026 expecting double-digit gains for the S&P 500, making the conflict a significant curveball to those early-year projections.
Investors are closely watching for signs of stabilization, whether through diplomatic developments or improved security around key infrastructure. Until then, markets are likely to remain sensitive to headlines, especially those tied to energy supply disruptions.
Mapped: Europe’s Unemployment Rates in 2026
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Mapped: Europe’s Unemployment Rates in 2026
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Key Takeaways
Finland (10.2%) and Spain (9.8%) have the highest unemployment rates in Europe as of January 2026.
Europe’s average unemployment rate stands at 5.5%, but the gap between countries remains wide.
Russia (2.2%), Bulgaria (3.1%), and Poland (3.1%) post the continent’s lowest rates.
Europe’s labor market tells two very different stories in 2026. While some countries continue to struggle with elevated unemployment, others are operating much closer to full employment.
This map shows unemployment rates across Europe as of January 2026, using data from Eurostat and the national statistical services of Russia, Switzerland, and the United Kingdom.
The contrast is stark: Finland (10.2%) and Spain (9.8%) sit at the top of the ranking, while Russia (2.2%), Bulgaria (3.1%), and Poland (3.1%) are at the low end.
The Highest and Lowest Rates Across Europe
The data table below provides unemployment rates for Europe as of January 2026.
CountryUnemployment Rate (%)
Finland10.2
Spain9.8
Sweden8.7
France7.7
Greece7.7
Denmark7.5
Latvia6.9
Luxembourg6.9
Belgium6.4
Lithuania6.4
Estonia6.3
Romania6.0
Austria5.6
Portugal5.6
Slovakia5.6
Iceland5.3
United Kingdom5.2
Italy5.1
Ireland4.7
Croatia4.5
Hungary4.5
Norway4.5
Cyprus4.2
Germany4.0
Netherlands4.0
Slovenia3.9
Malta3.4
Czechia3.2
Switzerland3.2
Bulgaria3.1
Poland3.1
Russia2.2
Countries With Elevated Unemployment
Beyond Finland and Spain, several major European economies still sit well above the continental average. France and Greece (both 7.7%) are among the highest, highlighting ongoing challenges in parts of the region.
In these economies, slower growth and structural labor market constraints have kept unemployment elevated compared to peers. France is a clear example, remaining firmly in Europe’s higher-unemployment group.
Even as conditions improve elsewhere, these countries continue to lag behind much of the continent.
The South’s Unemployment Problem
France is far from alone in facing high unemployment. Its two main southern neighbors have long been plagued by much of the same, though both have made strides since the eurozone crisis which wrecked their finances between 2008 and 2014.
At 9.8%, Spain today has Europe’s second-highest unemployment rate, behind only Finland (10.2%). The Iberian country has only recently fallen below the 10% benchmark for the first time since the 2008 crisis began. Spain’s economy has weathered Europe’s current growth crisis better than most, aided by high public investment and EU funds.
Meanwhile, Italy outperforms the European average with its 5.1% unemployment rate as of January 2026. The EU’s third-largest economy has also made strides in its labor market since the eurozone crisis. For example, while youth unemployment remains high at 20%, this figure also represents half of the roughly 40% seen in 2014 at the tail end of the crisis.
A Different Picture Outside the EU
Several non-EU economies fall on the lower end of Europe’s unemployment range. The UK (5.2%) sits close to the continental average, while Norway (4.5%) and Switzerland (3.2%) perform better than many EU peers.
Russia stands out most at 2.2%, the lowest rate among Europe’s major economies. Together, these figures reinforce the map’s central takeaway: Europe’s labor market is not moving uniformly, but diverging across countries.
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If you enjoyed today’s post, check out Unemployment Rates in OECD Countries on Voronoi.
Ranked: The Highest-Grossing Films in History
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Ranked: The Highest-Grossing Films in History
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Key Takeaways
Avatar holds the title as the highest-grossing film in history, with nearly $3 billion in box office receipts.
James Cameron has directed three of the four highest-grossing movies.
Disney is home to most of the biggest movie successes in history.
Even as movie attendance struggles to recover from the pandemic-era onslaught of home streaming services, numerous big-budget films have raked in billions of dollars at the box office, including the most recent Avatar installment as well as two animated sequels.
This infographic ranks the 20 best-selling films of all time based on lifetime worldwide gross, using updated 2026 data from Box Office Mojo.
James Cameron’s Avatar (2009), with its over $2.92 billion in earnings, has been the highest-grossing film in history since its 2021 rerelease in China. The film previously held the title for nearly a decade before losing its position to Avengers: Endgame in 2019 for two years.
The Two-Billion Dollar Club
Including both Avatar and Endgame ($2.8 billion), only seven movies have ever passed the $2-billion mark in worldwide box office receipts.
The other five include 2022’s Avatar: The Way of Water ($2.33 billion), 1997’s Titanic and 2025’s Ne Zha 2 (both $2.26 billion), 2015’s Star Wars: Episode VII – The Force Awakens ($2.07 billion), and 2018’s Avengers: Infinity War ($2.05 billion).
The data table below lists the highest-grossing movies of all time as of March 2026.
RankMovieLifetime GrossYear
1Avatar$2,923,710,7082009
2Avengers: Endgame$2,799,439,1002019
3Avatar: The Way of Water$2,334,484,6202022
4Titanic$2,264,812,9681997
5Ne Zha 2$2,260,176,3702025
6Star Wars: Episode VII - The Force Awakens$2,071,310,2182015
7Avengers: Infinity War$2,052,415,0392018
8Spider-Man: No Way Home$1,921,426,0732021
9Zootopia 2$1,866,577,7712025
10Inside Out 2$1,698,863,8162024
11Jurassic World$1,671,537,4442015
12The Lion King$1,662,020,8192019
13The Avengers$1,520,538,5362012
14Furious 7$1,515,342,4572015
15Top Gun: Maverick$1,495,696,2922022
16Avatar: Fire and Ash$1,485,550,8052025
17Frozen II$1,453,683,4762019
18Barbie$1,447,138,4212023
19Avengers: Age of Ultron$1,405,018,0482015
20The Super Mario Bros. Movie$1,360,879,7352023
No director has more entries on the upper echelon of film history than James Cameron, who directed Titanic as well as all of the Avatar films, leaving him with three of the four highest-grossing movies in history.
Cameron notably directed the first film to gross $1 billion and the first two films to ever gross $2 billion. Today, while that club has grown to reach seven movies, Cameron clearly has the strongest double-billion track record.
The Hegemony of Franchise Films
James Cameron is notable not only for his film’s commercial successes, but also for the fact that two of his highest-grossing movies are the only non-franchise films to be found in the top-20 list. Franchise films may include spin-offs, sequels, remakes, or film adaptations of existing media properties.
Setting aside Titanic and the original Avatar, all of the other highest-grossing movies are franchise films. This includes the two Avatar sequels as well as five Marvel blockbusters, ranging from the four Avengers movies to 2021’s Spider-Man: No Way Home ($1.92 billion).
Ne Zha 2, the only non-American movie in the top 20, is a sequel to a 2019 Chinese film and was released in January of 2025 at the start of the Chinese New Year. Other recent animated hits, like 2019’s Frozen II ($1.45 billion), 2024’s Inside Out 2 ($1.7 billion), and 2025’s Zootopia 2 ($1.87 billion), are also sequels to beloved children’s films.
On the flip side, 2019’s The Lion King ($1.66 billion) was not a sequel but rather a CGI-animated remake of the 1994 Disney classic.
The Force Awakens, Jurassic World ($1.67 billion), and Furious 7 ($1.52 billion), all of which were released in 2015, are all sequels to existing franchises, as is 2022’s Top Gun: Maverick ($1.5 billion). Finally, 2023 films like Barbie ($1.45 billion) and The Super Mario Bros. Movie ($1.36 billion) are film adaptations of other media properties, in the former case a Mattel doll and in the latter case a Nintendo video game series.
The Mouse’s Decades-Long Domination
Film studios have clearly learned the value of a franchise film in keeping audiences coming back despite rising movie theater ticket prices. And given Disney’s unparalleled successes, it’s clear they’ve mastered the game best, leading to consistent chart-toppers every year compared to a few decades ago.
Following successive $4 billion acquisitions of both Marvel Entertainment in 2009 and Lucasfilm in 2012, Disney has been able to dominate the box office through its fan-favorite franchise films like Avengers and Star Wars.
In 2019, it expanded its reach by acquiring 20th Century Fox, bringing the Avatar series and the international rights to Titanic into the fold, although Paramount Pictures retains the North American rights to Titanic.
The Mouse’s competitors in the major American film studios have struggled to keep up. The only Warner Bros. film in the top 20 is Barbie, while Paramount’s only fully-owned success is Top Gun: Maverick. Notably, these two studios are also expected to combine operations soon, as Paramount attempts to acquire Warner Bros.
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If you enjoyed today’s post, check out The 15 Highest-grossing Horror Movies of All Time on Voronoi.
Mapped: The Average Elevation of Every U.S. State
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Mapped: The Average Elevation of Every U.S. State
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Key Takeaways
Colorado (6,800 ft), Wyoming (6,700 ft), and Utah (6,100 ft) have the highest average elevations in the U.S.
The 10 highest-elevation states are all located in the Western U.S., highlighting a sharp geographic divide.
Nearly half of U.S. states sit below 1,000 ft in elevation, concentrated in the East and South.
How high above sea level is your state?
From the Rocky Mountains to the coastal plains, elevation varies dramatically across the United States. This map ranks all 50 states by average elevation, based on data from the USGS via the U.S. Census Statistical Abstract.
The result is a clear west-to-east divide, shaped by tectonic forces over millions of years.
Ranked: U.S. States by Elevation
With an average elevation of 6,800 feet, Colorado ranks highest.
This is not just due to its peaks, but because much of the state sits at high altitude. Colorado is also home to some of the highest incorporated places in the country, including Alma (10,578 feet), while Denver’s elevation of 5,280 feet has earned it the nickname the “Mile High City.”
Wyoming and Utah, at 6,700 and 6,100 feet respectively, follow. All three states are located in the Rocky Mountain region and share borders.
StateAverage Elevation (ft)
Colorado6,800
Wyoming6,700
Utah6,100
New Mexico5,700
Nevada5,500
Idaho5,000
Arizona4,100
Montana3,400
Oregon3,300
Hawaii3,030
California2,900
Nebraska2,600
South Dakota2,200
Kansas2,000
North Dakota1,900
Alaska1,900
Texas1,700
Washington1,700
West Virginia1,500
Oklahoma1,300
Minnesota1,200
Iowa1,100
Pennsylvania1,100
Wisconsin1,050
Vermont1,000
New York1,000
New Hampshire1,000
Virginia950
Michigan900
Tennessee900
Ohio850
Missouri800
Kentucky750
Indiana700
North Carolina700
Arkansas650
Illinois600
Georgia600
Maine600
Connecticut500
Alabama500
Massachusetts500
Maryland350
South Carolina350
Mississippi300
New Jersey250
Rhode Island200
Florida100
Louisiana100
Delaware60
California has an average elevation of 2,900 feet, but also has significant topographical variation.
The Golden State is home to Mount Whitney, the highest point in the contiguous U.S. at 14,505 feet, and Death Valley, the lowest point in North America at 282 feet below sea level.
Meanwhile, 23 states have an average elevation below 1,000 feet. About half are located in the South, which is also home to some of the country’s fastest-sinking cities.
Houston, TX, for example, is sinking faster than any other large city in America. Groundwater pumping plays a key role in land subsidence, compounded by its low elevation of 55 feet.
States With the Lowest Elevation
With an average elevation of just 60 feet, Delaware ranks lowest nationally.
It is followed by Louisiana and Florida, each with an average elevation of about 100 feet. Many of the lowest-elevation states cluster along the Gulf Coast and Atlantic seaboard, where flat terrain meets rising seas.
In many ways, elevation is more than a geographic statistic—it plays a growing role in climate resilience, urban planning, and infrastructure risk. Lower-lying states face increasing exposure to coastal flooding and sea-level rise driven by climate change.
Meanwhile, higher-elevation states face their own challenges, including water scarcity, wildfire risk, and harsher climate conditions. Understanding elevation patterns helps explain not just where Americans live, but how environmental risks are distributed across the country.
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To learn more about this topic, check out this graphic on the 15 largest countries in the world by land area.
Charted: The U.S. Slide in Happiness Rankings Since 2011
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Charted: The U.S. Slide in Happiness Rankings Since 2011
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Key Takeaways
The U.S. fell from the 11th happiest country in 2011 to 23rd in 2025.
The sharpest drop came in 2023, when the U.S. fell eight places from 15th to 23rd.
The United States has steadily slipped in the global happiness rankings over the past decade.
While it still ranks among the top 25 in the latest World Happiness Report, the U.S. is no longer close to the leading group of Nordic countries that consistently dominate the top spots.
This visualization tracks the U.S. happiness ranking from 2011 to 2025, based on data from the World Happiness Report 2026.
Each annual ranking is based on a three-year average of life evaluation survey responses rather than a single year. For example, the 2025 ranking reflects responses from 2023–2025.
The U.S. Has Fallen Outside the Top 20 Happiest Countries
The United States has not always ranked outside the top 20 happiest countries.
It placed 11th in 2011, then generally ranked between 13th and 17th through 2016. From there, its position weakened, landing at 18th or 19th in four consecutive years from 2017 to 2020.
YearCountryHappiness RankChange vs Prev Year
2011 United States11—
2012 United States17+6
2014 United States15-2
2015 United States13-2
2016 United States14+1
2017 United States18+4
2018 United States19+1
2019 United States18-1
2020 United States19+1
2021 United States16-3
2022 United States15-1
2023 United States23+8
2024 United States24+1
2025 United States23-1
Note: No data available for 2013
The decline accelerated more recently. The U.S. dropped eight spots to 23rd in 2023, reached a low of 24th in 2024, and edged back to 23rd in 2025.
Overall, the country now ranks more than a dozen places lower than it did in 2011.
Reasons Behind the Decline in America’s Happiness
The sharp drop in 2023 reflects more than a single-year change.
Because rankings are based on three-year averages, the 2023 result captures responses from 2021 to 2023—a period shaped by the post-pandemic aftermath, rising inflation, and growing cost of living pressures.
Recent editions of the report point to several contributing factors. The World Happiness Report 2024 found that declining wellbeing among Americans under 30 played a major role. The 2025 report highlighted weakening social connection, noting that just over a quarter of U.S. adults reported eating all of their meals alone in 2023—up more than 50% since 2003. Separate analysis also links lower happiness to declining social trust.
The 2026 report adds another possible factor, suggesting that heavy smartphone-based social media use may be contributing to weaker adolescent wellbeing across English-speaking countries and Western Europe.
Taken together, the U.S. decline appears tied to weaker social ties, lower trust, and a sharper deterioration in wellbeing among younger Americans.
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If you enjoyed today’s post, check out Ranked: The World’s Happiest Countries Over Time (2019–2024) on Voronoi.
Mapped: The World’s Most Water-Stressed Countries
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Mapped: The World’s Most Water-Stressed Countries
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Key Takeaways
Some countries are using 10–30x more water than their natural supply can sustain.
Kuwait has the highest water stress level in the world at 3,850%.
The U.S. water stress level is 28.2%, making it the 58th highest water-stressed nation globally.
In some parts of the world, water use has far exceeded what nature can replenish.
This map shows water stress by country, measured as freshwater withdrawals relative to renewable water resources. Countries with scores above 100% are using more water than is naturally available each year, often relying on groundwater depletion or desalination to close the gap. Data comes from the UN Food and Agriculture Organization.
Water is essential across agriculture, manufacturing, and daily life, making these imbalances increasingly important as climate patterns shift and demand rises.
Water Stress Levels by Country
Dive into the latest data, which is from 2022, below:
RankCountryWater stress (%)
1 Kuwait3,850.5
2 United Arab Emirates1,509.9
3 Saudi Arabia974.2
4 Libya817.1
5 Qatar431.0
6 Yemen169.8
7 Algeria144.8
8 Egypt141.2
9 Turkmenistan135.2
10 Bahrain133.7
11 Israel129.7
12 Syria124.4
13 Uzbekistan123.0
14 Sudan118.7
15 Oman116.7
16 Pakistan110.0
17 Jordan105.2
18 Tunisia98.1
19 Sri Lanka90.8
20 Barbados87.5
21 South Korea85.2
22 Iran81.3
23 Eswatini77.6
24 Malta72.6
25 Tajikistan69.9
26 South Africa67.6
27 India66.5
28 Armenia62.0
29 Cabo Verde59.7
30 Iraq59.6
31 Lebanon58.8
32 Azerbaijan57.5
33 Afghanistan54.8
34 Belgium52.8
35 North Macedonia52.6
36 Saint Kitts and Nevis50.8
37 Morocco50.8
38 Kyrgyzstan50.0
39 Palestine48.1
40 Türkiye47.9
41 Zimbabwe46.1
42 Mexico44.9
43 Spain43.3
44 China41.5
45 Bulgaria40.2
46 Dominican Republic39.6
47 Japan36.6
48 Germany35.4
49 Kazakhstan34.6
50 Singapore33.3
51 Kenya33.2
52 Poland32.5
53 Ethiopia32.3
54 Cyprus30.5
55 Italy29.8
56 Indonesia29.7
57 Timor-Leste28.3
58 United States28.2
59 Philippines27.8
60 North Korea27.7
61 Denmark25.3
62 Somalia24.5
63 Cuba23.9
64 Thailand23.0
65 Mauritius23.0
66 Czechia22.0
67 France21.4
68 Trinidad and Tobago20.3
69 Greece20.3
70 Rwanda20.2
71 Puerto Rico19.5
72 Vietnam18.1
73 Malawi17.5
74 The Netherlands16.7
75 Senegal16.3
76 Maldives15.7
77 United Kingdom14.4
78 Saint Lucia14.3
79 Haiti13.4
80 Mauritania13.2
81 Estonia13.0
82 Tanzania13.0
83 Moldova12.6
84 Jamaica12.4
85 Portugal12.3
86 El Salvador12.1
87 Uruguay12.1
88 Madagascar11.3
89 Eritrea11.2
90 Niger11.0
91 Argentina10.5
92 Burundi10.2
93 Dominica10.0
94 Nigeria9.7
95 Chile9.0
96 Austria8.7
97 Antigua and Barbuda8.5
98 Nepal8.3
99 Hungary8.1
100 Ireland8.1
101 New Zealand8.0
102 Mali8.0
103 Saint Vincent and the Grenadines7.9
104 Burkina Faso7.8
105 Romania7.6
106 Venezuela7.5
107 Finland7.1
108 Grenada7.1
109 Ecuador6.8
110 Switzerland6.5
111 Djibouti6.3
112 Ghana6.3
113 Ukraine6.3
114 Costa Rica5.9
115 Uganda5.8
116 Myanmar5.8
117 Guatemala5.7
118 Serbia5.7
119 Bangladesh5.7
120 Slovenia5.6
121 Côte d'Ivoire5.1
122 Peru4.8
123 Laos4.8
124 Albania4.8
125 Australia4.7
126 Belarus4.7
127 Honduras4.6
128 Chad4.3
129 South Sudan4.2
130 Georgia4.2
131 Russia4.1
132 Luxembourg4.0
133 Suriname4.0
134 Canada3.7
135 Colombia3.6
136 Sweden3.6
137 Brunei3.5
138 Malaysia3.4
139 Mongolia3.4
140 Togo3.4
141 Guyana3.3
142 Zambia2.8
143 Lesotho2.6
144 Slovakia2.4
145 Botswana2.2
146 Nicaragua2.2
147 Gambia2.2
148 Lithuania2.2
149 Bosnia and Herzegovina2.1
150 Norway2.0
151 Sao Tome and Principe1.9
152 Angola1.9
153 Paraguay1.8
154 Mozambique1.8
155 Cameroon1.6
156 Croatia1.5
157 Brazil1.5
158 Guinea-Bissau1.5
159 Bhutan1.4
160 Guinea1.4
161 Belize1.3
162 Cambodia1.0
163 Latvia1.0
164 Benin1.0
165 Panama0.9
166 Comoros0.8
167 Gabon0.5
168 Sierra Leone0.5
169 Iceland0.4
170 Central African Republic0.3
171 Namibia0.3
172 Fiji0.3
173 Liberia0.3
174 DRC0.2
175 Bolivia0.2
176 Equatorial Guinea0.2
177 Papua New Guinea0.1
178 Congo0.0
Some countries operate at 10–30x their natural water budget.
Kuwait leads by a wide margin, using the equivalent of 3,850% of its renewable water supply. The United Arab Emirates follows at 1,509.9%, highlighting a heavy reliance on desalination and non-renewable groundwater.
High water stress countries are clustered around the Middle East and North Africa, given they have naturally arid climates, meaning a slow supply of natural water. Some countries also have water intensive agriculture industries, which adds pressure.
Saudi Arabia is the third most water stressed country, at 974.2% its natural resources, while Libya and Qatar follow at 817.1% and 431%.
Even at a more modest level, countries are still overdrawn. Pakistan and Jordan hover above the 100% mark, at 110% and 105% respectively.
China uses 41.5% of its renewable water resources, while the U.S. is at 28.2%.
Elsewhere, Papua New Guinea, Bolivia and DRC have huge water reserves but are relatively underdeveloped economies, meaning water stress is negligible. The DRC, for example, is home to 62% of the Congo Basin, which is the world’s second-largest river system.
Congo is the only country in the dataset with zero water stress.
A Reliance on Artificial Water
Countries that cash in their full water budget rely on non-renewable sources to plug that gap.
One tactic is fossil groundwater mining, which is where water from deep underground is pumped up but for use but there isn’t enough rainwater to replenish aquifers. While this is practiced in the Middle East and North Africa, it’s also widespread across the U.S. and China.
Countries in arid regions like the Middle East are leaders in desalination technology, which converts saltwater into drinking water. This process is typically energy intensive and expensive but recent advances in technology have made it more viable, making it an interesting investment theme.
As climate patterns shift and demand continues to rise, water availability is becoming a more critical constraint on growth.
Countries operating beyond their natural water limits will likely need to expand desalination, manage demand more aggressively, or invest in more efficient infrastructure—turning water into a key economic and strategic issue in the years ahead.
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To learn more about water, check out this graphic which visualizes all the world’s water.
Mapped: Where U.S. Home Prices Are Rising—and Falling
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Mapped: Where U.S. Home Prices Are Rising—and Falling
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Key Takeaways
Chicago led major metros with a 4.0% year-over-year home price increase in 2025, while Honolulu recorded the steepest decline at -8.1%.
Price declines were concentrated in Western and Sun Belt markets, led by Miami (-4.3%), Denver (-3.2%), and Phoenix (-2.3%).
U.S. home prices are no longer moving in one direction.
This map shows year-over-year price changes across each state’s largest metro area as of December 2025. While prices are still rising in a majority of cities, a growing number—particularly in the West and Sun Belt—are now seeing declines.
The result is a housing market that’s increasingly split: steady gains in more affordable regions, and cooling in many of the markets that surged the most during the pandemic.
Data comes from Zillow’s January 2026 Market Report.
Midwest Strength: Chicago and Beyond
Overall, price growth has slowed considerably compared to the double-digit gains seen during the pandemic-era housing boom. While several Midwestern and Northeastern metros continue to post modest increases, many Sun Belt and Western markets are experiencing declines.
StateLargest Metro AreaHome Value (Dec 2025)YoY Value Change
HawaiiHonolulu, HI$620K-8.1%
IowaDes Moines, IA$290K-6.5%
FloridaMiami, FL$468K-4.3%
ColoradoDenver, CO$558K-3.2%
NevadaLas Vegas, NV$426K-2.7%
GeorgiaAtlanta, GA$374K-2.7%
ArizonaPhoenix, AZ$444K-2.3%
TexasHouston, TX$302K-2.2%
VermontBurlington, VT$501K-1.6%
WashingtonSeattle, WA$732K-1.5%
OregonPortland, OR$537K-1.1%
KansasWichita, KS$277K-1.1%
TennesseeNashville, TN$445K-0.8%
North CarolinaCharlotte, NC$381K-0.8%
MainePortland, ME$540K-0.7%
CaliforniaLos Angeles, CA$946K-0.5%
District of ColumbiaWashington, DC$568K-0.4%
NebraskaOmaha, NE$300K0.0%
MarylandBaltimore, MD$392K0.6%
AlabamaBirmingham, AL$253K0.6%
New JerseyNewark$472K0.7%
OhioColumbus, OH$319K0.9%
MontanaBillings, MT$386K1.0%
OklahomaOklahoma City, OK$240K1.0%
South DakotaSioux Falls, SD$323K1.1%
IndianaIndianapolis, IN$285K1.1%
New HampshireManchester, NH$424K1.3%
South CarolinaColumbia, SC$299K1.4%
LouisianaNew Orleans, LA$254K1.4%
West VirginiaCharleston, WV$160K1.6%
MinnesotaMinneapolis, MN$376K1.6%
MassachusettsBoston, MA$713K1.7%
VirginiaVirginia Beach, VA$362K1.7%
New MexicoAlbuquerque, NM$387K1.8%
UtahSalt Lake City, UT$557K1.9%
IdahoBoise, ID$549K1.9%
MississippiJackson, MS$270K1.9%
KentuckyLouisville, KY$271K2.1%
PennsylvaniaPhiladelphia, PA$376K2.6%
Rhode islandProvidence, RI$505K2.7%
MissouriKansas City, MO$314K2.8%
MichiganDetroit, MI$256K2.8%
WyomingCheyenne, WY$375K3.1%
DelawareWilmington, DE$318K3.2%
AlaskaAnchorage, AK$400K3.4%
New YorkNew York, NY$708K3.9%
North DakotaFargo, ND$310K4.0%
IllinoisChicago, IL$336K4.0%
WisconsinMilwaukee, WI$366K4.8%
ConnecticutHartford, CT$379K4.9%
ArkansasLittle Rock, AR$269K5.5%
Chicago stood out in 2025, posting a 4.0% year-over-year gain. With a typical home value of roughly $336k, the city remains more affordable than coastal peers like New York ($708K) or Los Angeles ($946K).
Limited housing inventory and steady demand have helped support prices. Other Midwestern metros—including Milwaukee (+4.8%), Detroit (+2.8%), and Columbus (+0.9%)—also recorded gains, reflecting relative affordability and stable local economies.
Sharpest Declines in the West and Sun Belt
Honolulu posted the steepest drop, with prices falling 8.1% year over year. Yet at $620K, it remains one of the most expensive large metros in the country.
Florida and Mountain West markets also saw notable declines. Miami fell 4.3%, Denver dropped 3.2%, and Phoenix declined 2.3%. These areas experienced rapid price acceleration earlier in the cycle, leaving them more exposed as borrowing costs rose.
High Prices, Slower Growth on the Coasts
Coastal markets remain among the priciest in the U.S., but growth has largely stalled. Los Angeles saw prices dip 0.5%, while Seattle fell 1.5%. In Boston, values edged up just 1.7% to over $713K.
New York was a relative bright spot among large coastal cities, posting a 3.9% gain and maintaining the second-highest typical home value in the dataset. Meanwhile, Washington, D.C. recorded a slight 0.4% decline.
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Ranked: The World’s Most Surveilled Cities
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Ranked: The World’s Most Surveilled Cities
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Key Takeaways
Indian cities dominate the rankings, with Hyderabad (79 cameras per 1,000 people) leading globally.
Eight of the top 10 cities are Asian. The other two most surveilled cities are in Russia.
China has 700 million cameras (494 per 1,000 people), though per-city data is unavailable.
Surveillance is becoming a defining feature of modern cities, but the level of monitoring varies significantly from one urban center to the next.
In Los Angeles, the number of cameras exceeds 46,000. Hyderabad, India has around 900,000. This visualization ranks major global cities by the number of CCTV cameras per 1,000 people using data from Comparitech, showing where surveillance is most concentrated.
As governments and municipalities expand surveillance for security and smart city initiatives, these rankings offer a snapshot of where camera density—and public surveillance—is highest today.
Cities With the Most Cameras Per Capita
At the top of the list, Hyderabad, India leads globally with 79 cameras per 1,000 people, followed by Indore (72) and Bangalore (41). Collectively, they hold over 1.7 million cameras.
It’s worth noting that data for specific cities in China is unavailable owing to government secrecy. However, it’s estimated to have 494 cameras per capita, or nearly one camera for every two people.
The table below shows the number of CCTV cameras per capita, highlighting the scale of public surveillance around the world.
RankCityCountryCameras Per1,000 PeopleNumber ofCCTV Cameras
1Hyderabad India79900,000
2Indore India72251,500
3Bangalore India41585,300
4Lahore Pakistan28410,300
5Seoul South Korea24243,400
6Moscow Russia20250,000
7Kabul Afghanistan1890,000
8Singapore Singapore18113,000
9Saint Petersburg Russia18102,000
10Baghdad Iraq15120,000
11London United Kingdom13131,900
12Los Angeles United States1246,800
13Busan South Korea1242,800
14Istanbul Turkey11179,000
15New York City United States1080,300
16Delhi India9313,300
17Chennai India9106,600
18Ho Chi Minh City Vietnam879,100
19Kuwait City Kuwait724,900
20Bangkok Thailand781,100
21Pune India752,100
22Kochi India724,000
23Lucknow India727,200
24Hong Kong Hong Kong648,000
25Mexico City Mexico6136,900
26New Taipei Taiwan627,200
27Ankara Turkey631,400
28Rome Italy522,500
29Sydney Australia526,200
Pakistan’s capital, Lahore, ranks fourth globally at 28 cameras per 1,000 people. With 410,300 cameras in total, facial recognition is often linked to national databases in real time.
Moscow, Russia ranks in sixth globally, with 20 cameras per capita. As one of the most pervasive surveillance systems worldwide, Moscow is blanketed in 250,000 cameras, which use facial recognition to identify protestors, journalists, and dissidents.
Across the West, London is the most highly surveilled cities, ranking in 11th overall. Following next in line is Los Angeles, with the number of cameras increasing by roughly 34% since 2022.
The Rise of Surveillance Infrastructure
Beyond Los Angeles, several cities have mirrored this expansion of surveillance systems in public spaces.
Notably, the number of cameras jumped 104% in Hyderabad, 17% in Moscow, and 3.6% in London since 2022. At the same time, these systems are increasingly using machine learning algorithms to identify patterns, automate profiles, and detect “suspicious activity”.
Not only do vast networks of cameras allow government authorities to detect traffic or parking violations, they provide access to people’s movements, raising questions of privacy and data accumulation in an age of AI-powered monitoring.
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To learn more about this topic, check out this graphic on the countries that have banned ChatGPT.
How Global Government Debt Grew to $111 Trillion (2000–2025)
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How Global Government Debt Grew to $111 Trillion
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Key Takeaways
Global government debt rose from $19.7T in 2000 to $111T in 2025.
The sharpest increases followed the 2008 financial crisis and 2020 pandemic.
The U.S. and China drove a growing share of the total over time.
Global government debt has crossed a new milestone. Gross public debt worldwide reached $111 trillion in 2025, more than five times the $19.7 trillion recorded in 2000.
This visualization uses data from the IMF to trace that trajectory through a stacked area chart, breaking down world public debt by the U.S., the EU, Japan, China, the rest of advanced economies, and emerging market and developing economies from 2000 to 2025.
The U.S. and China Now Hold Over Half of All Government Debt
Two countries dominate the picture. The United States carries $38.3 trillion in public debt, while China holds $18.7 trillion. Combined, they account for roughly 51% of the global total.
The data table below shows the government debt from 2000 to 2025 in U.S. dollars for the U.S., China, the EU, Japan, and rest of the world:
Year U.S. Gov't Debt ($T) EU Gov't Debt ($T) Japan Gov't Debt ($T) China Gov't Debt ($T)Other Countries' Gov't Debt ($T) World Total Gov't Debt ($T)
2000$4.90$5.90$5.10$0.20$3.60$19.70
2001$5.66$4.86$6.35$0.33$5.02$22.21
2002$6.11$5.31$6.45$0.38$5.28$23.52
2003$6.75$6.65$7.23$0.44$5.83$26.91
2004$8.12$7.66$8.29$0.52$6.49$31.07
2005$8.58$8.03$8.44$0.60$6.94$32.58
2006$8.92$8.28$8.01$0.70$7.33$33.24
2007$9.40$9.21$7.92$1.04$8.25$35.81
2008$10.91$10.73$9.24$1.24$9.12$41.23
2009$12.61$11.21$10.52$1.76$9.38$45.47
2010$14.39$11.80$11.86$2.05$11.09$51.19
2011$15.60$13.10$13.66$2.53$12.65$57.53
2012$16.85$12.77$14.18$2.94$13.21$59.94
2013$17.73$13.68$11.96$3.57$13.80$60.73
2014$18.48$14.05$11.42$4.21$14.46$62.61
2015$19.29$11.88$10.15$4.61$14.21$60.13
2016$20.19$12.02$11.63$5.69$14.60$64.14
2017$20.86$12.39$11.41$6.74$15.83$67.23
2018$22.23$13.09$11.71$7.84$16.60$71.48
2019$23.43$12.51$12.10$8.66$17.16$73.85
2020$28.33$14.15$13.06$10.43$18.97$84.92
2021$29.66$15.48$12.78$12.76$21.39$92.07
2022$31.03$14.30$10.58$13.81$22.06$91.78
2023$33.33$15.27$10.11$14.98$23.77$97.46
2024$35.84$16.04$9.49$16.56$24.74$102.67
2025$38.29$17.55$9.83$18.67$26.60$110.93
The U.S. trajectory accelerated sharply in 2020, when pandemic-era spending pushed federal debt from $23.4 trillion to $28.3 trillion in a single year. It has continued climbing since, driven by elevated deficits, rising interest costs, and no meaningful fiscal consolidation.
China’s path has been different in character but equally striking in scale. Starting from just $0.2 trillion in 2000, Chinese public debt grew at approximately 18% per year, roughly 14 times the global average in dollar terms. Much of this reflects local government borrowing to fund infrastructure and property development.
How the Global Debt Landscape Has Shifted Since 2000
The chart highlights several distinct phases in the buildup of global debt:
2000–2007: Debt Stabilization. Total public debt grew modestly from $19.7 trillion to $35.8 trillion, largely in line with global GDP growth.
2008–2009: Financial Crisis Surge. The global financial crisis triggered a sharp jump in sovereign borrowing as governments bailed out banks and launched stimulus programs. Global debt rose from $35.8 trillion to $45.5 trillion in two years.
2010–2012: European Debt Crisis. EU sovereign debt reached $13.1 trillion in 2011 as Greece, Italy, and Spain faced spiraling borrowing costs. Austerity measures followed across the eurozone.
2013–2019: Cheap Borrowing Era. Low interest rates allowed governments to sustain higher debt loads without immediate fiscal pressure. Global debt drifted from $60.7 trillion to $73.9 trillion.
2020: Pandemic Debt Explosion. COVID-19 pushed global debt from $73.9 trillion to $84.9 trillion in a single year, the largest one-year increase on record.
2022–2025: High Debt, Rising Costs. With interest rates elevated, the cost of servicing this debt has risen sharply, particularly for the U.S. and emerging economies.
Japan and the EU: Diverging Paths
Japan’s debt peaked at $14.2 trillion in 2012 and has since declined to $9.8 trillion, partly due to yen depreciation against the dollar (debt is denominated in yen but measured here in USD). In domestic terms, Japan’s debt-to-GDP ratio remains among the highest in the world at over 230%.
The EU followed a similar pattern of post-crisis consolidation, with debt falling from a peak of $15.5 trillion in 2021 to $14.3 trillion in 2022 before climbing again to $17.6 trillion in 2025 as member states increased defense and energy spending.
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Mapped: Which States Have Produced the Most Billionaires?
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Mapped: Which States Have Produced the Most Billionaires?
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Key Takeaways
New York leads the U.S. in billionaire births, with 90—more than California and Texas combined.
On a per-capita basis, New York still ranks first, while Massachusetts and Missouri stand out as overperformers.
The U.S. has produced more billionaires than any other country, and some states have generated far more than others.
This map shows where America’s billionaires were born, based on a 2026 PlayersTime analysis of the Forbes Real-Time Billionaires List.
It covers 1,647 billionaires with available birthplace data and compares both each state’s total billionaire births and its rate per 1 million people.
Most Billionaires Born Per Capita
Adjusting for population by taking each state’s figure per one million people, there are some surprising results, such as the strong showing of both Massachusetts (3.2) and Missouri (2.6). These states outperform all but one of their peers in terms of per-capita billionaire births.
The data table below lists the states in which the most billionaires have been born by both sheer total and on a per-capita basis.
StateBillionaires per 1 million peopleTotal number of billionaires
New York4.590
Massachusetts3.223
Missouri2.616
Hawaii2.13
Illinois2.025
Nebraska2.04
Maryland1.912
Iowa1.96
New Mexico1.94
Pennsylvania1.823
Rhode Island1.82
Michigan1.717
Montana1.72
Wyoming1.71
Oklahoma1.56
New Jersey1.413
Connecticut1.45
Alaska1.41
California1.351
Ohio1.315
Arkansas1.34
North Dakota1.31
Wisconsin1.27
Oregon1.25
Texas1.032
Kansas1.03
Georgia0.910
Indiana0.96
Minnesota0.95
Louisiana0.94
Nevada0.93
Tennessee0.86
Utah0.83
Virginia0.76
Mississippi0.72
Washington0.65
West Virginia0.61
North Carolina0.44
Alabama0.42
Kentucky0.42
South Carolina0.42
Florida0.37
Colorado0.21
Arizona0.11
Delaware00
Idaho00
Maine00
New Hampshire00
South Dakota00
Vermont00
If Massachusetts and Missouri surprise, then New York (4.5) certainly does not. Despite being one of the most populous states, as well as being home to the poorest congressional district in the country, the Empire State manages to outperform the other 49 states even by per-capita measurements.
In large part, this is owing to New York City, which has birthed more billionaires than anywhere else worldwide.
The Biggest Billionaire Birthplace States
Unsurprisingly given its high per-capita rate and population, New York scores the top spot in sheer numbers (with 90) as well.
Among the analyzed billionaires, more billionaires were born in the Empire State than in the next two most prominent states, California (51) and Texas (32), combined, despite the fact that both of those states are more populous than New York and house massive industries such as energy and technology.
In light of this, New York’s sky-high position reflects not only its namesake city’s central role in the global economy, but also its historic wealth centers like Westchester Country, which has the highest property taxes in the country.
The Richest Person Born in the U.S.
Per Forbes, the world’s richest man as of 2026 is Elon Musk, who was born in South Africa before making his fortune in the United States. Musk’s net worth is over $800 billion as of 2026.
However, runner-up and Google cofounder Larry Page, who has a net worth of nearly $250 billion, was born in Lansing, Michigan, making him the richest individual worldwide to be born in the United States.
Following Page, the next richest U.S.-born individual would be Amazon founder Jeff Bezos, fourth on the Forbes list, who was born in Albuquerque, New Mexico and currently has a net worth of roughly $225 billion.
Learn More on the Voronoi App
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Warren Buffett vs. the S&P 500: Growth of $100 (1965–2025)
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Warren Buffett vs. the S&P 500: Growth of $100 (1965–2025)
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Key Takeaways
A $100 investment in Berkshire Hathaway at the start of 1965 would be worth roughly $6.1 million by the end of 2025, versus about $45.5k for the S&P 500.
Berkshire compounded at 19.7% annually, nearly twice the S&P 500’s 10.5%.
Buffett’s edge was not just consistency, but the much larger average gains Berkshire delivered in its positive years.
Anyone lucky enough to invest $100 in Berkshire Hathaway at the start of 1965 would be sitting on significant returns, but just how much would they have outperformed the S&P 500?
This graphic compares Berkshire Hathaway and the S&P 500 from 1965 to 2025, based on data from Berkshire Hathaway’s 2025 annual report.
Berkshire Hathaway’s Returns Compared to the Market
A $100 investment in Berkshire Hathaway in 1965 would be worth $6.1 million investment at the end of 2025, significantly outperforming the S&P 500’s dollar return of $45,500.
The data table below shows the performance of Berkshire Hathaway between 1965 and 2025 versus the S&P 500 index.
Berkshire figures are based on per-share market value, while S&P 500 numbers are total returns with dividends reinvested.
Year$100 invested in Berkshire Hathaway in 1965$100 invested in the S&P 500 in 1965Berkshire Hathaway Annual ReturnS&P 500 Annual Return
1964$100$1000.0%0.0%
1965$150$11050.0%10.0%
1966$144$97-4.0%-11.8%
1967$164$12713.9%30.9%
1968$291$14177.4%11.0%
1969$347$12919.2%-8.5%
1970$331$134-4.6%3.9%
1971$598$15480.7%14.9%
1972$647$1838.2%18.8%
1973$630$156-2.6%-14.8%
1974$323$115-48.7%-26.3%
1975$331$1572.5%36.5%
1976$760$195129.6%24.2%
1977$1,116$18046.8%-7.7%
1978$1,278$19214.5%6.7%
1979$2,587$227102.4%18.2%
1980$3,436$30032.8%32.2%
1981$4,529$28531.8%-5.0%
1982$6,267$34638.4%21.4%
1983$10,592$42369.0%22.3%
1984$10,306$449-2.7%6.1%
1985$19,963$59193.7%31.6%
1986$22,797$70114.2%18.6%
1987$23,846$7374.6%5.1%
1988$37,987$85959.3%16.6%
1989$70,124$1,13184.6%31.7%
1990$53,925$1,096-23.1%-3.1%
1991$73,123$1,43135.6%30.6%
1992$94,913$1,53929.8%7.5%
1993$131,834$1,69538.9%10.1%
1994$164,793$1,71725.0%1.3%
1995$259,384$2,36257.4%37.6%
1996$275,466$2,9066.2%23.0%
1997$371,604$3,87634.9%33.4%
1998$565,581$4,98552.2%28.6%
1999$453,030$6,032-19.9%21.0%
2000$573,537$5,48326.6%-9.1%
2001$610,816$4,8306.5%-11.9%
2002$587,605$3,763-3.8%-22.1%
2003$680,447$4,84315.8%28.7%
2004$709,706$5,3714.3%10.9%
2005$715,384$5,6340.8%4.9%
2006$887,791$6,52424.1%15.8%
2007$1,142,588$6,88328.7%5.5%
2008$779,245$4,336-31.8%-37.0%
2009$800,284$5,4852.7%26.5%
2010$971,545$6,31321.4%15.1%
2011$925,883$6,446-4.7%2.1%
2012$1,081,431$7,47716.8%16.0%
2013$1,435,059$9,90032.7%32.4%
2014$1,822,525$11,25627.0%13.7%
2015$1,594,709$11,414-12.5%1.4%
2016$1,967,871$12,78323.4%12.0%
2017$2,398,835$15,57021.9%21.8%
2018$2,466,002$14,8852.8%-4.4%
2019$2,737,262$19,57411.0%31.5%
2020$2,802,957$23,1762.4%18.4%
2021$3,632,632$29,82729.6%28.7%
2022$3,777,937$24,4284.0%-18.1%
2023$4,374,851$30,85315.8%26.3%
2024$5,490,438$38,56625.5%25.0%
2025$6,088,896$45,46910.9%17.9%
Warren Buffett delivered a return of more than 6,088,000% on Berkshire’s stock as he transformed a struggling textile maker into the most valuable company in the world that isn’t either a tech giant or a state oil producer.
Put differently, the world’s greatest investor turned the same initial investment of just $100 into about 134 times as much wealth as the broader market over the same six-decade span.
How Warren Buffett Outperformed the S&P 500
The formula behind the success is simple in theory, but incredibly difficult in practice: buy high-quality businesses at attractive prices.
The 95-year-old legendary value investor is not afraid to accumulate large positions in companies he likes and then hold them “forever”.
Examples include American Express, first purchased in 1964; Coca-Cola in 1988; Moody’s in 2000; and Apple in 2016, all of which remain part of Berkshire’s portfolio.
Berkshire’s structure as a publicly traded holding company allowed shareholders to compound wealth alongside him without paying recurring management or performance fees.
Had Buffett charged hedge-fund-style fees, the ending value would likely have been only a few hundred thousand dollars rather than $6.1 million, depending on the exact fee model used.
Did Buffett Beat the Market Consistently?
Over the 61-year period, Berkshire posted positive returns in 50 years—slightly more often than the S&P 500. More importantly, its gains were much larger in winning years, averaging 32% versus 19% for the index.
Despite this long-term dominance, Buffett did experience periods of underperformance.
While Buffett outperformed the S&P 500 in every decade from 1965 to 2015, from 2015 to 2025 the S&P 500 returned 304% compared to Berkshire Hathaway’s 234%.
As the world’s largest public conglomerate, Berkshire’s sheer size—combined with a long bull market led by mega-cap AI stocks—has made it harder for the Oracle of Omaha to find great companies at attractive prices.
Many of the market’s biggest AI winners, like Nvidia, Meta, and Palantir, also fall outside his “circle of competence”.
Even so, Buffett’s long-term record of outsized returns is arguably the most extraordinary example of wealth creation in financial market history, helping cement his place among the world’s richest people.
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To learn more about legendary money managers check out this graphic which visualizes Jim Simons’ Medallion Fund’s returns vs. the S&P 500.
Charted: U.S. War Support Hits Record Lows
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Charted: U.S. War Support Hits Record Lows
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Key Takeaways
U.S. support for new wars has fallen to its lowest level on record.
WWII saw near-unanimous backing at 97%, versus just 41% for Iran in 2026.
Public approval has steadily weakened since the early 2000s.
Major crises can still drive spikes, but support fades faster than before.
At the start of World War II, 97% of Americans supported military action. In 2026, just 41% back the Iran conflict, the lowest level recorded for any U.S. intervention.
This graphic compares initial public approval across major U.S. conflicts since 1941 based on polling data from the New York Times, highlighting how war support has evolved, from near-unanimous backing during global conflicts to far more divided sentiment today.
A Broad Downward Trend in War Support
Public support for U.S. military interventions has generally declined over the past 85 years.
During the 1940s and 50s, U.S. wars saw strong majority backing. World War II (97%), and the Korean War (76%) each had widespread approval at the outset.
The table below shows how public trust in military intervention has clearly weakened, especially in the post-Iraq and post-Afghanistan era. Data on initial public support for the Vietnam War is not available for comparison.
ConflictInitial Public Support forU.S. Military InterventionYearPresident
Iran War41%2026Donald Trump
Libya Intervention47%2011Barack Obama
Iraq War76%2003George W. Bush
Afghanistan War92%2001George W. Bush
Kosovo58%1999Bill Clinton
Persian Gulf War82%1991George H. W. Bush
Panama80%1989George H. W. Bush
Grenada53%1983Ronald Reagan
Korean War75%1950Harry S. Truman
World War II97%1941Franklin D. Roosevelt
Support for the Libya intervention stood at just 47% in 2011, and the 2026 Iran conflict sits even lower at 41%, suggesting a growing reluctance among Americans to back new wars.
For Iran in particular, approval ratings are hindered by several strategic and domestic factors. First, the purpose of the war is opaque, with Iran posing no immediate threat or danger to the American public preceding the attacks. Secondly, ambiguity surrounding how—and when—it will end complicates measurements of success.
Beyond these variables, affordability and the cost of living ultimately remain the most central political concerns among Americans, rather than foreign policy.
Moments That Drove War Support Higher
While the long-term trend points downward, major events can still trigger sharp spikes in support.
The clearest example is the Afghanistan War, which began in the aftermath of 9/11. Initial approval reached 92%, reflecting a moment of national unity and urgency. Yet by 2021, 47% said America’s longest war in history was a mistake.
Similarly, the Iraq War in 2003 launched with 76% support, though public opinion would later shift significantly as the conflict dragged on.
These cases show that context matters, especially when Americans perceive a direct threat. But even these surges have become less durable over time, with support often eroding faster than previous conflicts in history.
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To learn more about this topic, check out this graphic on the world’s most militarized economies by three metrics.
Mapped: Where $200K Incomes Are Most Common in America
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Mapped: Where $200K Incomes Are Most Common in America
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Key Takeaways
More than 1 in 4 households in D.C. earn $200K+, the highest in the U.S.
In top states like Massachusetts and New Jersey, roughly 1 in 5 households reach this level.
In parts of the South, fewer than 1 in 15 households earn $200K or more.
Earning $200,000 a year may sound like a high bar, but in some parts of the U.S., it’s far more common than you might expect.
In Washington, D.C., 26.6% of households earn $200K+, more than double the national average of 12.5%. In many Northeastern and West Coast states, the share is closer to 20%.
This map, based on the latest U.S. Census Bureau data, shows where $200K incomes are concentrated, and where they remain relatively rare.
The Top States for Households Earning $200K and Above
In the highest-ranking parts of the country, $200K household incomes are increasingly common. D.C. leads at 26.6%, while Massachusetts (22.5%), New Jersey (21.8%), California (21.0%), and Maryland (20.8%) all exceed 20%.
At the top end, the share of $200K households is roughly 3–4 times higher than in the lowest-ranking states.
RankStateShare of Households Earning $200K and Above
1District of Columbia26.6%
2Massachusetts22.5%
3New Jersey21.8%
4California21.0%
5Maryland20.8%
6Connecticut19.4%
7Washington19.3%
8Hawaii18.5%
9Colorado17.9%
10Virginia17.5%
11New York17.3%
12New Hampshire17.0%
13Rhode Island14.6%
14Alaska14.6%
15Utah14.4%
16Illinois14.1%
17Minnesota13.8%
18Texas13.2%
19Delaware12.9%
20Oregon12.6%
21Georgia12.3%
22Arizona12.2%
23Pennsylvania11.9%
24Florida11.9%
25Nevada11.5%
26Vermont11.2%
27North Carolina11.1%
28Maine10.3%
29North Dakota10.1%
30Kansas10.0%
31Tennessee9.5%
32Idaho9.5%
33South Carolina9.5%
34Wisconsin9.4%
35Michigan9.4%
36Montana9.3%
37Ohio9.2%
38Missouri9.1%
39Nebraska8.9%
40New Mexico8.9%
41South Dakota8.7%
42Indiana8.5%
43Wyoming8.4%
44Alabama8.3%
45Iowa8.3%
46Louisiana8.0%
47Kentucky7.5%
48Oklahoma7.4%
49Arkansas6.6%
50Mississippi6.0%
51West Virginia5.9%
While Texas has the second-highest number of $200K households after California, exceeding 1.5 million, its share still trails wealthier coastal states, at 13.2%.
A similar pattern is seen in Florida (11.9%), which also falls below the national average. Despite an influx of wealthy residents during the pandemic, drawn by its tax advantages, most households fall within the $75,000 to $99,999 income bracket.
Where High Incomes Are Least Common
At the other end of the spectrum, $200K incomes make up a small share of households:
West Virginia: 5.9%
Mississippi: 6.0%
Arkansas: 6.6%
Seven of the 10 lowest-ranking states are in the South, highlighting a persistent regional income divide.
West Virginia, for instance, has one of the lowest median household incomes nationally, at $60,789 in 2024. Mississippi, meanwhile, saw real median household incomes grow just 5.6% between 2010 and 2024, far below the national average of 22%.
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To learn more about this topic, check out this graphic on the number of billionaires in every U.S. state.
Mapped: The World’s Riskiest Markets in 2026
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Mapped: The World’s Riskiest Markets in 2026
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Key Takeaways
Four countries—Belarus, Lebanon, Sudan, and Venezuela—top the global risk ranking at 30.9%.
The U.S. sits at 4.5%, higher than several developed peers.
Only 19 countries globally have risk premiums below 5%.
Not all markets offer the same tradeoff between risk and return.
This map shows equity risk premiums around the world—based on estimates from NYU professor Aswath Damodaran. These premiums reflect the extra return investors demand to invest in each country, with higher values signaling greater perceived risk.
The gap is stark. While a handful of stable economies sit near 4–5%, countries facing conflict or economic collapse can exceed 30%, highlighting how dramatically risk perceptions diverge across global markets.
The World’s Riskiest Countries
Check out the data, which is as of January 2026, although Türkiye was updated in February:
CountryEquity Risk Premium
Belarus30.9%
Lebanon30.9%
Sudan30.9%
Venezuela30.9%
Bolivia19.8%
Cuba19.8%
Myanmar19.8%
North Korea19.8%
Sri Lanka19.8%
Syria19.8%
Ukraine19.8%
Yemen19.8%
Ecuador17.2%
Haiti17.2%
Malawi17.2%
Mozambique17.2%
Niger17.2%
Somalia17.2%
Ethiopia15.9%
Gabon15.9%
Guinea15.9%
Laos15.9%
Liberia15.9%
Maldives15.9%
Mali15.9%
Republic of Congo15.9%
Zambia15.9%
Zimbabwe15.9%
Argentina13.9%
Belize13.9%
Burkina Faso13.9%
Cameroon13.9%
Egypt13.9%
Ghana13.9%
Guinea-Bissau13.9%
Iran13.9%
Iraq13.9%
Kenya13.9%
Pakistan13.9%
Senegal13.9%
Solomon Islands13.9%
Suriname13.9%
Tunisia13.9%
Angola12.6%
Bosnia and Herzegovina12.6%
DRC12.6%
El Salvador12.6%
Kyrgyzstan12.6%
Madagascar12.6%
Moldova12.6%
Nigeria12.6%
Sierra Leone12.6%
St. Vincent & the Grenadines12.6%
Tajikistan12.6%
Togo12.6%
Uganda12.6%
Bahrain11.4%
Bangladesh11.4%
Barbados11.4%
Cambodia11.4%
Cape Verde11.4%
Gambia11.4%
Nicaragua11.4%
Papua New Guinea11.4%
Rwanda11.4%
Swaziland11.4%
Algeria10.1%
Bahamas10.1%
Benin10.1%
Cook Islands10.1%
Fiji10.1%
Honduras10.1%
Mongolia10.1%
Montenegro10.1%
Namibia10.1%
Tanzania10.1%
Albania8.9%
Armenia8.9%
Jamaica8.9%
Jordan8.9%
Macedonia8.9%
Nepal8.9%
Türkiye8.9%
Uzbekistan8.9%
Costa Rica8.1%
Côte d'Ivoire8.1%
Dominican Republic8.1%
Georgia8.1%
Libya8.1%
Russia8.1%
Serbia8.1%
South Africa8.1%
St. Maarten8.1%
Trinidad and Tobago8.1%
Vietnam8.1%
Brazil7.5%
Guatemala7.5%
Morocco7.5%
Sharjah7.5%
Aruba7.1%
Azerbaijan7.1%
Colombia7.1%
Curacao7.1%
Greece7.1%
India7.1%
Mauritius7.1%
Montserrat7.1%
Oman7.1%
Panama7.1%
Paraguay7.1%
Romania7.1%
Hungary6.7%
Indonesia6.7%
Italy6.7%
Mexico6.7%
Philippines6.7%
Andorra6.3%
Botswana6.3%
Bulgaria6.3%
Guyana6.3%
Israel6.3%
Kazakhstan6.3%
Peru6.3%
Thailand6.3%
Turks and Caicos Islands6.3%
Uruguay6.3%
Croatia5.8%
Cyprus5.8%
Latvia5.8%
Malaysia5.8%
Portugal5.8%
Slovakia5.8%
Slovenia5.8%
Spain5.8%
Bermuda5.3%
Chile5.3%
Lithuania5.3%
Malta5.3%
Poland5.3%
China5.1%
Estonia5.1%
Guernsey 5.1%
Iceland5.1%
Japan5.1%
Kuwait5.1%
Belgium5.0%
Brunei5.0%
Cayman Islands5.0%
Czechia5.0%
France5.0%
Hong Kong5.0%
Ireland5.0%
Isle of Man5.0%
Jersey5.0%
Macao5.0%
Saudi Arabia5.0%
Taiwan5.0%
United Kingdom5.0%
Abu Dhabi4.9%
South Korea4.9%
Qatar4.9%
United Arab Emirates4.9%
Austria4.6%
Finland4.6%
United States4.5%
Australia4.2%
Canada4.2%
Denmark4.2%
Germany4.2%
Liechtenstein4.2%
Luxembourg4.2%
Netherlands4.2%
New Zealand4.2%
Norway4.2%
Singapore4.2%
Sweden4.2%
Switzerland4.2%
To estimate the investment risk premium, Damodaran looked at each country’s credit rating and how much extra interest investors want when lending to it. For countries where government bonds aren’t available or traded, he based his estimate on the differences in equity returns of two emerging markets indices.
As a last step, he added that country risk premium to his estimate of a mature market equity risk premium.
The riskiest countries are those that experience war, sanctions, and economic collapse. Belarus, Lebanon, Sudan, and Venezuela each have the highest equity risk premiums of 30.9%.
Belarusians have faced intense political repression as they responded to the contested re-election of Alexander Lukashenko in 2020. Lebanon is considered a failed state as governance and the economy have collapsed, while armed groups are present on the streets.
There has been a civil war in Sudan since 2023, causing a devastating humanitarian crisis. Meanwhile, Venezuela has a long history of instability; the mismanagement of its oil industry and the economy sent the once-prosperous nation into disarray.
Cuba, Ukraine, Syria, and Yemen, which have also experienced conflict or sanctions, are among a cluster of countries with risk premiums of 19.8%.
Countries Considered Safer Investment Bets
Some of the safest countries include Canada, Germany, Switzerland, Singapore, Sweden, and the Netherlands, with risk premiums at 4.2%. Investors likely treat them interchangeably.
The U.S. has a slightly higher premium at 4.5%, which may reflect recent political polarization and higher equity volatility. Indeed, “Sell America” dominated investor conversations earlier this year amid economic uncertainty, questions around the independence of the Federal Reserve, and the depreciation of the dollar.
Still, it is one of just 19 countries that have risk premiums below 5%.
Europe is not homogeneous. Southern countries, where economies were hit by the 2009 debt crisis, have higher risk premiums. Spain and Portugal sit at 5.8%, Italy at 6.7%, and Greece is 7.1%.
How Investors Back Riskier Markets
Only certain kinds of investors are willing to place risky bets.
Pension funds, for instance, tend to have a low risk tolerance as they are using the public’s pension savings to invest. Investment mandates can also limit how much a fund is allowed to allocate to emerging markets or high-risk strategies. In practice, they can access riskier markets indirectly via diversified funds, where they are able to hedge their bets.
No matter the size of the reward, emerging markets investors tend to focus on countries showing signs of stability, economic and business reform, and an alignment with global long-term themes.
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To learn more about investment in emerging markets, check out this graphic, which ranks foreign direct investment scores.
Mapped: Europe’s GDP Growth Forecasts for 2026
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Mapped: Europe’s GDP Growth Forecasts for 2026
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Key Takeaways
Europe’s largest economies are forecast to grow below 1% in 2026.
Germany and France are both projected at 0.9%, while Italy lags at 0.8%.
Eastern and Southeastern Europe lead growth, with several countries above 3–5%.
Europe’s gross domestic product (GDP) is projected to grow by only 2.3% on average in 2026, held back by sluggish growth in major eurozone markets such as France, Germany, and Italy. However, other regions are expected to see faster economic expansion, especially in Southern and Eastern Europe.
This map showcases forecasted European GDP growth rates for 2026 utilizing data from the International Monetary Fund (IMF).
Across the Old Continent, growth is constrained by high regulation, weak demand, and a difficult global environment, with heavy export-led economies like Germany particularly impacted.
Germany’s Years-Long Hangover
Germany, the third-largest economy worldwide, is facing deep structural problems with its market structure. Following two consecutive years of recession, Europe’s largest economy barely grew at all in 2025, and is expected to see just 0.9% growth in 2026, ahead of only two other European Union (EU) member states.
The data table below provides a 2026 forecast of European GDP growth.
CountryReal GDP Growth (%)
Albania3.6
Andorra1.6
Armenia4.9
Austria0.8
Azerbaijan2.5
Belarus1.4
Belgium1
Bosnia and Herzegovina2.7
Bulgaria3.1
Croatia2.7
Cyprus2.8
Czechia2
Denmark2.2
Estonia1.5
Finland1.3
France0.9
Georgia5.3
Germany0.9
Greece2
Hungary2.1
Iceland2.3
Ireland1.3
Italy0.8
Kosovo4
Latvia2.2
Liechtenstein1.5
Lithuania2.9
Luxembourg2.1
Malta3.9
Moldova2.2
Montenegro3.2
Netherlands1.2
North Macedonia3.2
Norway1.6
Poland3.1
Portugal2.1
Romania1.4
Russia1
San Marino1.3
Serbia3.6
Slovakia1.7
Slovenia2.3
Spain2
Sweden1.9
Switzerland1.3
Turkey3.7
Ukraine4.5
United Kingdom1.3
Between 2005 and 2019, Germany experienced what has been termed the “labor market miracle,” an era of economic expansion powered by high employment growth, low interest rates, and cheap energy. However, this period came to an abrupt end with the COVID-19 pandemic and especially with Russia’s invasion of Ukraine, which sent energy prices skyrocketing and all but halted German growth.
Germany’s post-COVID economic situation is a perfect storm of challenges. Energy prices have remained high owing to Russia’s ongoing war in Ukraine and escalating conflicts in the Middle East. German industry, the pride of the country, is increasingly being squeezed by both U.S. tariffs as well as massive Chinese competition. Major trade deals and deregulation efforts are being hamstrung by political gridlock in both Berlin and Brussels, the latter being the EU’s political capital.
Today, the EU’s modest growth forecast for 2026 can be attributed in no small part to the severe economic woes faced by its main economic engine. So long as Germany is not able to modernize its economy and restore its prior growth levels from previous decades, the EU as a whole will face severe headwinds.
Europe’s Other Major Economies
Beyond Berlin, the news remains grim for the other major economies of Europe.
France is projected to match Germany’s sluggish growth of just 0.9%, while Italy is tied with Austria for the continent’s slowest growth (0.8%). Russia (1%) is still held back by the high interest rates and low domestic demand of its wartime economy, while the United Kingdom (1.3%) fares only slightly better.
Spain has been touted as the eurozone’s newest star, with the Iberian country becoming the fastest-growing Western major economy on the backs of high post-COVID public investment and strong renewable energy resources. While the forecast of 2% for 2026 represents a slowdown from the 2.8-3.5% seen in recent years, Spanish fortunes have flipped as dramatically as their German counterparts’ from the eurozone crisis of the 2010s.
The Rise of Europe’s East and South
Of course, Spain is far from the only country rewriting its reputation in real time. Poland (3.1%) is another EU heavyweight in the making, while the tiny island country of Malta’s impressive 3.9% is likely to be the highest economic expansion in the bloc.
Outside of the EU, countries in Eastern Europe and the Caucasus emerge as major growth hubs, led by Georgia (5.3%), Armenia (4.9%), and war-torn Ukraine (4.5%).
Turkey, the top economy of the Eastern Mediterranean, faces a growth projection of 3.7%, although its results are tampered by an inflation rate hovering around 30% following peaks in 2022 and 2024.
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If you enjoyed today’s post, check out Comparing Electricity Prices for Household Consumers in Europe on Voronoi.
Ranked: Countries With the Most Patents
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Ranked: Countries With the Most Patents
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Key Takeaways
China leads the world with 5.7 million active patents, far ahead of any other country.
The U.S. (3.5M) and Japan (2.1M) rank second and third, respectively.
Together, the top three countries hold more patents than the rest of the world combined.
A handful of countries dominate global patent activity, with a steep drop-off after the top ranks. China alone accounts for a massive share, holding millions more active patents than any other country.
This visualization ranks countries by total active patents using the latest available data from the World Intellectual Property Organization for 2024.
China Is Miles Ahead on Active Patents
China leads with 5.7 million active patents, followed by the United States and Japan, and together the top three exceed the rest of the world combined.
Country Number of Active Patents
China5,688,867
United States3,519,879
Japan2,085,215
South Korea1,312,294
Germany963,941
France757,026
United Kingdom744,130
Italy382,444
Switzerland268,054
The Netherlands246,254
Russia243,943
India228,402
Spain217,849
Canada201,063
Ireland198,100
Belgium187,149
Luxembourg163,418
Australia163,069
Sweden152,158
Austria134,163
Monaco120,437
Poland111,782
Mexico111,190
Denmark109,551
Brazil106,827
South Africa104,012
Finland96,416
Türkiye89,401
Indonesia84,540
Portugal81,509
Hong Kong73,249
Norway55,349
Czechia50,433
Singapore49,667
Iran44,453
Israel41,001
Malaysia38,168
Hungary35,950
Greece27,510
Romania27,474
Thailand24,635
New Zealand23,867
Viet Nam23,291
Slovakia21,189
Chile21,079
Ukraine20,445
Slovenia18,517
Philippines15,463
Saudi Arabia14,739
Croatia13,431
Bulgaria13,311
Argentina13,053
Lithuania12,414
Estonia10,684
Latvia10,493
Iceland9,501
Serbia9,368
Colombia9,009
Zambia8,562
Malta7,385
Algeria7,039
Macao5,777
North Macedonia5,528
Iraq5,141
Egypt5,107
Morocco4,917
United Arab Emirates4,587
Peru4,539
Ghana3,326
Kazakhstan2,837
Bangladesh2,203
Pakistan2,157
Panama2,076
Mongolia1,656
Costa Rica1,462
Belarus1,371
Uzbekistan1,255
Dominican Republic1,194
Uruguay1,138
Sri Lanka1,007
El Salvador918
Georgia836
Trinidad and Tobago830
Syria666
Bahrain571
Qatar569
Jamaica451
Honduras446
Cuba421
Namibia415
Azerbaijan403
Zimbabwe403
Oman355
Ethiopia322
Paraguay257
Moldova255
Madagascar232
Guatemala218
Ecuador215
Venezuela208
Kyrgyzstan186
Sao Tome and Principe153
Kuwait74
Bosnia and Herzegovina69
Barbados63
Andorra48
Saint Vincent and the Grenadines20
Armenia17
Uganda17
Cyprus10
Bhutan6
Myanmar4
South Korea takes the fourth spot for most active patents, with 1.3 million. It underscores Asia’s strong presence among the world’s leading innovation hubs.
It’s unsurprising to see these countries in the top ranks, given the size of their economies and populations, though South Korea becomes an outlier through this lens.
Germany is the top European country, at 963,941, but active patents dip significantly from there to 757,026 for France.
Myanmar, which brought in its first ever law dedicated to patent protection and innovation in 2024, sits at the bottom of the dataset with four patents. It is only one of two — the other being Bhutan, which has six active patents — to have fewer than 10 active patents.
Most Countries Contribute Little to Global Innovation
Global patent ownership is highly concentrated, with a small number of countries accounting for the majority of innovation output.
While countries like China, the U.S., and Japan dominate the landscape, most nations contribute relatively small numbers of active patents. This gap highlights differences in research capacity, industrial scale, and investment in innovation.
Learn More on the Voronoi App
To learn more about innovation, check out this graphic which ranks top startup hubs.
Half the World’s Oil Comes From Just Five Countries
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Half the World’s Oil Comes From Just Five Countries
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Key Takeaways
The U.S. was the world’s largest crude oil producer in 2025 at 13.58 million barrels per day, ahead of Russia (9.87) and Saudi Arabia (9.51).
Middle Eastern countries produced 32.1% of global crude oil in 2025.
Just five countries produced half of the world’s oil in 2025, with the U.S., Russia, and Saudi Arabia alone accounting for nearly 40% of global supply.
That level of concentration means a small number of countries have an outsized influence on global oil supply.
This visualization shows global crude oil production including lease condensate by country in a single chart with countries organized and colored by region.
The data for this visualization comes from the U.S. Energy Information Administration, and is a Jan-Nov 2025 annualized average of crude oil and lease condensate production by country, the latest data available as of March 9, 2026.
U.S., Russia, and Saudi Arabia Lead Crude Oil Production
The U.S. was the world’s largest producer of crude oil and lease condensate in 2025, producing 13.58 million barrels per day (mb/d), comfortably ahead of Russia at 9.87 mb/d and Saudi Arabia at 9.51 mb/d. Combined together, those three countries were responsible for 39% of global crude oil production in 2025.
The data table below shows the world’s crude oil production in 2025 by country in million barrels per day (mb/d) and each country’s share of global production:
CountryCrude Oil and Lease Condensate 2025 Production (million barrels per day) Share of 2025 Global Production (%)
United States13.5816.08
Russia9.8711.69
Saudi Arabia9.5111.26
Canada4.945.85
Iraq4.395.20
China4.345.14
Iran4.194.96
United Arab Emirates3.824.52
Brazil3.754.43
Kuwait2.583.05
Kazakhstan2.072.45
Norway1.852.19
Mexico1.722.04
Nigeria1.611.90
Libya1.361.61
Qatar1.311.55
Algeria1.141.35
Angola1.031.22
Oman1.001.18
Venezuela0.971.15
Argentina0.790.93
Colombia0.750.88
Guyana0.730.87
United Kingdom0.610.73
India0.600.71
Indonesia0.580.69
Azerbaijan0.560.67
Malaysia0.520.61
Egypt0.510.60
Ecuador0.440.52
Australia0.250.29
Congo-Brazzaville0.240.28
Gabon0.240.28
Turkmenistan0.190.23
Ghana0.180.22
Bahrain0.180.22
Vietnam0.160.19
Thailand0.160.19
Chad0.130.15
Turkiye0.130.15
South Sudan0.110.13
Niger0.100.12
Brunei0.100.12
Senegal0.100.12
Italy0.080.10
Equatorial Guinea0.080.09
Syria0.070.09
Denmark0.070.09
Cameroon0.060.07
Pakistan0.060.07
Cote d'Ivoire0.050.06
Romania0.050.06
Trinidad and Tobago0.050.06
Peru0.050.05
Germany0.030.04
Papua New Guinea0.030.04
Sudan0.030.04
Uzbekistan0.030.04
Belarus0.030.03
Cuba0.030.03
Tunisia0.030.03
Hungary0.020.03
Netherlands0.020.03
Israel0.020.02
Bolivia0.020.02
Poland0.020.02
Congo-Kinshasa0.020.02
Yemen0.020.02
Mongolia0.010.02
Albania0.010.01
Suriname0.010.01
Serbia0.010.01
France0.010.01
Croatia0.010.01
Austria0.010.01
New Zealand0.010.01
Burma0.010.01
Kyrgyzstan0.010.01
Guatemala0.010.01
After that top tier, production drops sharply. Canada ranked fourth at 4.94 million barrels per day, followed by Iraq (4.39) and China (4.34). In other words, the U.S. alone almost produced more crude than Canada, Iraq, and China combined.
Iran was the seventh-largest producer of crude oil in 2025, pumping 4.19 mb/d which equates to 5% of the world’s production last year.
The Middle East is the Largest Oil-Producing Region
While the U.S. was the single biggest producer, the Middle East remained the largest regional bloc in the ranking. Countries from the region produced 32% of the world’s crude oil in 2025, or nearly one-third of the global total.
Saudi Arabia, Iraq, Iran, the United Arab Emirates, and Kuwait all landed in the top 10. That clustering helps explain why Middle Eastern supply continues to play an outsized role in global oil balances, even with the U.S. holding the top spot individually.
The war in Iran has led to significant disruption in crude oil production and trade in 2026, with many Middle Eastern countries’ production facilities shut down or destroyed.
Even if the war were to end soon, many facilities will require significant reinvestment and time to repair, along with high levels of uncertainty across the key energy trade route that is the Strait of Hormuz.
After the Top 10, Oil Production Falls Off Quickly
The concentration of output in a few countries and regions becomes even clearer lower down the ranking of oil producers. The top 10 countries accounted for 72.2% of global production, meaning all remaining producers combined contributed less than 28%.
That long tail includes countries such as Kazakhstan, Norway, Mexico, Nigeria, Libya, and Guyana, each of which adds meaningful barrels to the market without approaching the scale of the leading producers.
The result is a global crude market where a handful of countries still matter most for overall supply trends.
Learn More on the Voronoi App
To learn more about the world’s crude oil, check out this graphic which shows the top countries by crude oil reserves on Voronoi.
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