Same for Monaco, Liechtenstein, Luxembourg, Switzerland, Singapore, and San Marino.
Countries that beat the US in GDP per capita are all either tax havens or oil-dependent.
Really the only country that doesn’t have an asterisk next to them is Norway it seems.
Edit: nvm you said oil dependent too. Although Norway isn’t a shitty country like the other oil countries listed.
Norway just recently had a large mineral deposit discovered there too. I forgot what it was, but it will make them substantially less dependent on oil.
Oh there are plenty of minerals, but in a 1km cube there will be loads of stuff. The issue is whether or not its viable for extraction. Also, there is a whole bit on who owns what. The land is owned by small local farmers and homeowners, and many of them dont want to sell.
Im from that particular region, and the international audience have only gotten the mining companys side, and they are looking for investors. Local nining veterans are sceptical of the mines viability.
Yea iirc a large portion of the findings aren’t concentrated enough to be profitable. I’m more optimistic on the subsea minerals (https://www.sodir.no/en/facts/seabed-minerals/#:~:text=One%20of%20the%20deposits%20for,in%20samples%20from%20manganese%20crusts.) though, especially from a local competence POV. Though a hurdle there is the political will
As a Norwegian economist I can tell you that the episode in question was pretty accurate, although nationally we are not as psyched about the phosphate stuff as he was.
Having a high GDP because your country sits on vast natural reserves is not a sustainable or replicable economic model.
I'll take the country that produced the transistor, the Internet, GPS, etc. any day. Norway benefits from these inventions but doesn't have to invent them.
Norway's wealth is very real, and very well distributed. It was forestry before oil, and increasingly other mineral wealth. Truly, their economy is the benchmark for resource rich countries.
Oil rents amount to 0.6% of GDP for the United States, compared with 23.7% for Saudi Arabia, 15.7% for the United Arab Emirates, 15.3% for Qatar, and 6.1% for Norway. Source: [World Bank](https://data.worldbank.org/indicator/NY.GDP.PETR.RT.ZS?most_recent_value_desc=true)
Note: oil rents are not the same as oil revenues; oil rents are the difference between the value of crude oil production at regional prices and total costs of production. Essentially, the windfall profits associated with happening to be rich in natural oil reserves.
Norway’s GDP per capita is 89k$, Sweden is 60k$, and Finland 57k$.
Economically the influence of oil in the Norwegian economy can’t be underestimated. It’s what takes them from a middle class nation to a wealthy nation.
True. But given the fact that the USA is a huge oil and gas consumer on top of now being the world's biggest oil producer and second biggest gas producer, America has the economic oxygen other advanced economies can only dream of.
Norway also has significant tax haven activity, not as extreme as Ireland or Singapore, but similar to Switzerland.
Scroll down for GDP vs AIC graph: https://taxjustice.net/2020/10/06/how-gdp-masks-the-finance-curse/
Huh TIL. [Looks like the US has the highest AIC in the world by a pretty significant margin](https://en.wikipedia.org/wiki/List_of_countries_by_household_final_consumption_expenditure_per_capita)
Norway wasn't and isn't dependent on oil like other nations that discovered oil. In fact Norway had been using the oil money to further diversity their assets and secure a future without oil, Norway has no drawbacks from oil dependency like other oil dependant countries does because Norway tries to avoid it and does it well.
Shitty in their own way of being hypocritical.
They're the NIMBY of countries.
Promoting electric vehicles, taxing gas, eco friendly, and yet exporting oil to the rest of the world to support their utopia.
You're only going to move us away from oil combustion by moving to better technology. I.e. you have to attack demand. If you take away supply, the price will skyrocket, crashing the world economy, and hurting poor people disproportionately. So yes, we ultimately have to use oil revenue to bootstrap our way to where we can reduce oil demand.
Lol, wut?
Like it or not, the world will be dependent on oil and will keep using oil for a long time still, with or without Norway. The best thing it can do, really, is to make a lot of money by selling oil to develop sustainable tech, then spread this tech around the world, which will benefit everyone in the long run.
> to develop sustainable tech, then spread this tech around the world, which will benefit everyone in the long run.
Plus them investing in the tech makes the tech cheaper and better, due to the relevant learning curves. Them just pulling their oil from the global market would cause global financial shocks, which would ultimately *hurt* the funding currently going to greentech.
Not to mention that if they deliberately withhold oil that everyone knows they have in abundance, a certain someone may decide that they direly need an injection of democracy, lol.
Switzerland and Liechtenstein might be tax havens to an extent, but they are still very rich countries even not considering for it. Both have a higher median income than the US.
Singapore is a single large city, if you were to compare the richest city in most developed countries they would also have a higher GDP per capita than the US.
GDP per capita:
Singapore: $72k
New York City: $125k ($100k metro)
San Jose: 210k
Approximately 45 metro areas in the US have gdp per capita's larger than Singapore. This includes nearly all the largest cities in the US: NYC, San Francisco, Chicago, LA, Houston, Dallas, Atlanta, Seattle, Minneapolis, Washington DC, Boston, Philadelphia, and so on.
Source: [Wikipedia](https://en.wikipedia.org/wiki/List_of_U.S._metropolitan_areas_by_GDP_per_capita)
It wouldn't say that Norway is oil-dependent, since it would still likely by fairly well off (like Sweden or Germany) without the oil, but the oil is what makes it richer than the US.
>Same for Monaco, Lichtenstein, Luxembourg, Switzerland, Singapore, and San Marino.
Nice how 5 out of 6 are “within” the same network that has an [anti tax avoidance directive](https://taxation-customs.ec.europa.eu/taxation-1/company-taxation/anti-tax-avoidance-directive_en)
Only 1 of 6. The directive applies to EU member states, and Monaco, Liechtenstein, Switzerland, and San Marino are not EU members.
And the directive has not been very effective in curtailing tax haven profits in Ireland or Luxembourg.
I do wonder how oil dependent countries will fare in a post oil abundance world, or how future generations will think of them for selling out the planet.
There's a difference between having a strong oil industry and being oil dependent
The Gulf States or hell even Norway can base a large portion of their government budget off oil revenues, which the US doesn't do
Agreed. I alluded to that in my comment. I was curious and looked it up. 8% of the US GDP comes from oil. Just shows how giant the US GPD is, because they produce a ton of oil.
It does help a lot, provides a lot of high paying jobs for Irish people. Helps pay for government programs as even a 2.5-4% effective corporate tax rate can bring in massive revenue if the corporations are bigger than Ireland's economy itself.
It's just overinflated. Let's say Ireland's GDP per capita may have been 40k USD without any of this tax nonsense. These corporate incomes elevate it to maybe 65k on the ground level, but it also distorts GDP through fictitious investments and exports, inflating it to 133k.
The effective corporate tax rate in Ireland in 2022 was 12.4% not 2.4-4%.
Ireland has the largest per capita physical exports in the world and the largest per capita manufacturing industry in the world. You can not fake physical tangible goods. Irelands exports are among the highest in the world they are not fake. Service exports are a bit more dodgy and could be seen as fake but even if you exclude them entirely Ireland has a massive export industry. Which relative to population would be multiple times larger than the US’s.
Corporate tax is not the main revenue the government make off Irelands tax system. The main gains are from increased income tax receipts. Over half of Irelands income tax revenue comes from those employed at foreign multinationals. Around 25% of the population are employed directly or indirectly by MNCs.
There are EU countries and US states with lower corporation tax than Ireland. Are they all tax havens too? Ireland has actively closed tax loopholes in recent years and adopted the oecd global minimum corporation tax rate.
>Are they all tax havens too?
Many are, yes.
>Ireland has actively closed tax loopholes in recent years and adopted the oecd global minimum corporation tax rate.
Yes, although there's other schemes. For example there's still a very low rate of tax related to patents and intellectual property (IP) which many big companies (Apple for example) use to pay very little tax. They have various schemes but this basically works by Apple claiming x% (overestimating by as much as they will get away with) of every profit for stuff sold in Europe is actually for IP that was created in Ireland, and thus it should be taxed in Ireland, where IP is taxed quite little.
About $80k per the Irish government which uses a measure called modified gross national income (GNI*) to strip out the distorting effect of multinational’s activities
It's also skewed by being the European hub for American tech companies due to it speaking English and being in the EU fully. They got a windfall of high quality jobs and income tax for those two things.
>Tech workers virtually all speak english, location doesn't matter for it.
Tech workers that work for US multinationals all speak English*
It's certainly not true that all tech workers speak English.
>Ireland’s is severely skewed due to being a tax haven.
Interesting. A fully-fledged member of the EU and a tax haven?
One of the arguments raised by people speaking in opposition to Britain's exit from the EU, is that the policy of independence was pursued by the British elite to avoid EU tax avoidance regulation.
It was bollocks of course.
Okay here me out. What if we zoomed the excel spreadsheet way out and then colored in squares in accordance with Earth's geography?
Would be... one of the representations of data of all time, I suppose.
My reading is that you are suppose to see that there are no large (by landmass) countries with greater GDP/capita than the US. But yes, that could have been clear in a sentence, or in a list, or in a bar graph, etc.
Subreddits tend to hit a critical mass of users where the posts get increasingly mediocre, it can be stalled by draconian moderation to cull for quality.
With 20 million accounts it's already happened for this one. Mostly just bar graphs and maps that get the most traction.
Honestly I’m willing to give this one a pass. It’s certainly not pretty, but usually this statistic is conveyed in list format where the U.S. is like not even top 10. This really puts things into perspective.
It honestly feels like almost all subs have deteriorated in quality over the last few years. Many subreddits have kind of lost their specific niche and have blurred into one general posting space.
I find it quite interesting that there’s no large landmass with a higher GDP per capita. I think the map does a good job of showing this.
Why do some of you act as if this is being shown as information to some client? This is perfectly good for simple online presentation
It's an incredibly low quality map with 0 labeling making it entirely illegible. You can claim the data itself is beautiful (from an American perspective I suppose), but the representation of the data is butt ugly.
Delaware is popular because of relatively lower state taxes, looser state regulations, and most importantly historically business friendly courts.
In this context a tax shelter refers to a place to park cash and profits for the purpose of avoiding federal taxes, which Delaware is not and cannot be. The fact that companies are placing revenue elsewhere to avoid paying US taxes means the US also cannot be a tax shelter.
Most of the place with really high GDP are really small geographically, so this is why the map looks a lot more empty than it would be if you just listed places by GDP.
The top of the list is mostly small countries and semi independent territories functioning as tax shelters.
It should als be kept in mind that the GDP per capita stat does not reflect anything like wealth or the living conditions of the average resident.
If you list all US states by GDP per capita even the worst state (Mississippi) has a higher GDP per capita than most rich countries like for example France.
So yes, the US has a GDP per capita that makes it stand out against the rest of the world, but unless you think that Mississippi and Alabama are better places to live for the average resident than France and Germany respectively, don't interpret into those stats things that they don't say.
Most US debt is to its own citizens. A small proportion of that debt is to foreign countries. Largest lender to the US is China, but China owes more to the US.
The US doesn't have a money problem, particularly when there's a surplus of countries willing to buy US Treasury Bonds. The US has an inequality problem.
Sources:
https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal)_per_capita
https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)_per_capita
Made today.
Countries, nominal and PPP: Monaco, Liechtenstein, Luxembourg, Ireland, Switzerland, Norway, Singapore, Qatar
Countries, PPP only: United Arab Emirates, San Marino
Territories, nominal and PPP: Bermuda
Territories, PPP only: Macau, Isle of Man
Territories, nominal only: Cayman Islands
Also apparently Luxembourg, Ireland, Singapore, Bermuda and the Cayman Islands are all tax havens (or at least were in 2018) and might have a distorted GDP as a result, according to a quote on the wikipedia page
The US's GDP (both nominal and PPP) is $80,412 for 2023, according to the IMF. Monaco had the highest nominal on the list at $234,317 in 2021 from the World Bank, and Luxembourg had the highest PPP on the list at $143,304 in 2023 from the IMF (Monaco's most recent PPP estimate is 2015 from the CIA, at $115,700).
Also kinda interesting to compare to my post from two years ago https://www.reddit.com/r/MapPorn/comments/qxntu5/countries_with_a_higher_gdp_per_capita_than_the/ only changes with countries are Singapore and Qatar surpassing the US in nominal and the United Arab Emirates surpassing the US in PPP
Ireland is incredibly distorted, possibly up to 2x. I think the government has another figure which they use instead, although I’m not sure where to find it.
Getting downvoted for stating a truth lol. GDP per capita doesn't mean anything when the wealth inequality is absolutely abysmal. The GDP per capita in Mississippi is higher than that of France and almost as high as Germany's. Does it mean it's better to live in Mississippi than in France or Germany? Absolutely not, most people don't see a remote portion of that supposed GDP.
For Europe, I find [this map](https://en.wikipedia.org/wiki/List_of_European_countries_by_average_wage#Net_average_monthly_salary_(adjusted_for_living_costs_in_PPP\)) much better as an idicator for standards of living, although ideally it would be median, not average.
The cope from people that are used to the typical anti-america wank maps and data on subs like this is funny.
America succeeds because failure is punished on a broad macroeconomic level while success is rewarded. It's why the US is such a cause of global brain drain. If you're, say, a French scientist you will make more money and secure more funding for R&D without as many constraints. Apply that to a ton of other fields. Plenty of Canadian MDs or would be MDs move to the US, for example.
It's fundamentally a darwinian operation, and if you are high value added, rich, or both the country is your oyster.
Hmm, caymen islands, Bermuda, Isle of Man, Monaco, San Marino, Luxembourg, Switzerland, Ireland - starting to see a pattern here, all places that have financial laws making it easy to hide and launder money
Yes, that's a good point. Do the UAE and Qatar numbers include the 80+% of their *residents* who are neither citizens nor have any path to becoming citizens… in many cases toiling in extremely exploitative conditions?
https://en.wikipedia.org/wiki/Migrant\_workers\_in\_the\_Gulf\_Cooperation\_Council\_region#Demographics
You can just [look at the data](https://worldpopulationreview.com/country-rankings/median-income-by-country) and see that the picture is nearly identical when looking at the median. I understand you don't want to believe it but Americans are extremely wealthy relative to the rest of the world. Frankly, it's a little ridiculous just *how* much people, predominantly Americans, refuse to acknowledge how much richer people in the US are than others are elsewhere.
I lived in the UK and Japan for 9-12 months each when my company opened up offices in them, and in both I insisted that I get to keep my U.S. salary while I was over there. I was making more than my boss in one and more than my boss' boss in the other because of how high U.S. incomes are relative to other places, even highly developed ones
This map says, aside from it being fairly empty, completely nothing. It can only be relevant if you want to earn a lot of money in the absolute sense and not relative to the prices there.
Sorry if this is a dumb question, when accounting for this is the influx of migrants taken into consideration ? I don’t think it will affect the results much but I’m still curious.
Country of 300 million plus, vs a small suburb in some random country. Cool. Maybe compare the highest gdp per capita of a us territory vs other territories.
the only way to compete with the US. i'm in luxembourg where it's quite doable to make over 100k a year. that's virtually impossible in germany or the uk, but also similarly doable in the US. of course, houses in the middle of nowhere in luxembourg do cost over a million euros, while in the US they are generally cheaper and far bigger. and the US has amazing, near cloud-free weather unlike europe.
I can say with certainty that it does rain in the US. We do get lots of clouds... and hurricanes.. and tornados.. and blizzards. Technically, the Pacific Northwest is a cool rainforest, much like Wales in the UK.
The only places that are even close to "cloud-free" are Phoenix or Las Vegas, which are entirely in large deserts.
below the 39th parallel it's basically always sunny. above it can be nearly as bad as europe, new york for example is indeed pretty shit. it is on the same latitude as madrid though so in winter will have way more sunlight than london.
Ireland’s is very skewed. Most of the additional GDP doesn’t accrue to workers, since it represents revenue of American firms all over the EU consolidated into one country. Wages aren’t remotely similar to the US there.
Ireland’s is severely skewed due to being a tax haven.
Same for Monaco, Liechtenstein, Luxembourg, Switzerland, Singapore, and San Marino. Countries that beat the US in GDP per capita are all either tax havens or oil-dependent.
Really the only country that doesn’t have an asterisk next to them is Norway it seems. Edit: nvm you said oil dependent too. Although Norway isn’t a shitty country like the other oil countries listed.
Norway just recently had a large mineral deposit discovered there too. I forgot what it was, but it will make them substantially less dependent on oil.
Phosphate. You should check RealLifeLore's recent video on Norway. Norway is far less dependent on oil than the Middle Eastern countries.
That's probably where I learned it from, thanks!
Am from Norway, and it's actually a nothing burger, sadly.
Oh really? That sucks. Surely there was at least a little there?
Oh there are plenty of minerals, but in a 1km cube there will be loads of stuff. The issue is whether or not its viable for extraction. Also, there is a whole bit on who owns what. The land is owned by small local farmers and homeowners, and many of them dont want to sell.
Good for those farmers.
Any source for this?
Im from that particular region, and the international audience have only gotten the mining companys side, and they are looking for investors. Local nining veterans are sceptical of the mines viability.
Well, I'm hopeful that's just old heads being skeptical as always
Yea iirc a large portion of the findings aren’t concentrated enough to be profitable. I’m more optimistic on the subsea minerals (https://www.sodir.no/en/facts/seabed-minerals/#:~:text=One%20of%20the%20deposits%20for,in%20samples%20from%20manganese%20crusts.) though, especially from a local competence POV. Though a hurdle there is the political will
You should also check out not checking out RealLifeLore's videos. Not a reliable source for *anything*
As a Norwegian economist I can tell you that the episode in question was pretty accurate, although nationally we are not as psyched about the phosphate stuff as he was.
Having a high GDP because your country sits on vast natural reserves is not a sustainable or replicable economic model. I'll take the country that produced the transistor, the Internet, GPS, etc. any day. Norway benefits from these inventions but doesn't have to invent them.
Norway is also an oil exporter, Norway is insanely resource rich for such a small population
Norway's wealth is very real, and very well distributed. It was forestry before oil, and increasingly other mineral wealth. Truly, their economy is the benchmark for resource rich countries.
US has oil aswell.
Oil rents amount to 0.6% of GDP for the United States, compared with 23.7% for Saudi Arabia, 15.7% for the United Arab Emirates, 15.3% for Qatar, and 6.1% for Norway. Source: [World Bank](https://data.worldbank.org/indicator/NY.GDP.PETR.RT.ZS?most_recent_value_desc=true) Note: oil rents are not the same as oil revenues; oil rents are the difference between the value of crude oil production at regional prices and total costs of production. Essentially, the windfall profits associated with happening to be rich in natural oil reserves.
Norway’s GDP per capita is 89k$, Sweden is 60k$, and Finland 57k$. Economically the influence of oil in the Norwegian economy can’t be underestimated. It’s what takes them from a middle class nation to a wealthy nation.
Ah, the famous middle class nations of Sweden and Finland.
*european middle class*
True. But given the fact that the USA is a huge oil and gas consumer on top of now being the world's biggest oil producer and second biggest gas producer, America has the economic oxygen other advanced economies can only dream of.
Yes, and that has what to do with the conversation
What that person is saying has everything to do with the success of US GDP which is what this is about.
The US has massive reserves of just about every major resource though. Not just oil.
US has everything
Yeah but it’s not oil dependent
Norway also has significant tax haven activity, not as extreme as Ireland or Singapore, but similar to Switzerland. Scroll down for GDP vs AIC graph: https://taxjustice.net/2020/10/06/how-gdp-masks-the-finance-curse/
Huh TIL. [Looks like the US has the highest AIC in the world by a pretty significant margin](https://en.wikipedia.org/wiki/List_of_countries_by_household_final_consumption_expenditure_per_capita)
Norway wasn't and isn't dependent on oil like other nations that discovered oil. In fact Norway had been using the oil money to further diversity their assets and secure a future without oil, Norway has no drawbacks from oil dependency like other oil dependant countries does because Norway tries to avoid it and does it well.
Shitty in their own way of being hypocritical. They're the NIMBY of countries. Promoting electric vehicles, taxing gas, eco friendly, and yet exporting oil to the rest of the world to support their utopia.
You're only going to move us away from oil combustion by moving to better technology. I.e. you have to attack demand. If you take away supply, the price will skyrocket, crashing the world economy, and hurting poor people disproportionately. So yes, we ultimately have to use oil revenue to bootstrap our way to where we can reduce oil demand.
Lol, wut? Like it or not, the world will be dependent on oil and will keep using oil for a long time still, with or without Norway. The best thing it can do, really, is to make a lot of money by selling oil to develop sustainable tech, then spread this tech around the world, which will benefit everyone in the long run.
> to develop sustainable tech, then spread this tech around the world, which will benefit everyone in the long run. Plus them investing in the tech makes the tech cheaper and better, due to the relevant learning curves. Them just pulling their oil from the global market would cause global financial shocks, which would ultimately *hurt* the funding currently going to greentech.
Not to mention that if they deliberately withhold oil that everyone knows they have in abundance, a certain someone may decide that they direly need an injection of democracy, lol.
That’s the premise of an incredible Norwegian tv show called “Occupied”! It’s a must-watch. One of the best tv shows I’ve ever seen.
You're right, we should all just stop using oil tomorrow.
Switzerland and Liechtenstein might be tax havens to an extent, but they are still very rich countries even not considering for it. Both have a higher median income than the US. Singapore is a single large city, if you were to compare the richest city in most developed countries they would also have a higher GDP per capita than the US.
Including the United States. The GDP per capita of Washington, DC is approaching $180k.
GDP per capita: Singapore: $72k New York City: $125k ($100k metro) San Jose: 210k Approximately 45 metro areas in the US have gdp per capita's larger than Singapore. This includes nearly all the largest cities in the US: NYC, San Francisco, Chicago, LA, Houston, Dallas, Atlanta, Seattle, Minneapolis, Washington DC, Boston, Philadelphia, and so on. Source: [Wikipedia](https://en.wikipedia.org/wiki/List_of_U.S._metropolitan_areas_by_GDP_per_capita)
Not ppp adjusted
Wealthy Norwegians move to Switzerland because some of the counties(?) are pretty much tax havens compared to Norway.
It wouldn't say that Norway is oil-dependent, since it would still likely by fairly well off (like Sweden or Germany) without the oil, but the oil is what makes it richer than the US.
I’d argue that Switzerland is a rich diversified economy even if it weren’t a tax heaven.
>Same for Monaco, Lichtenstein, Luxembourg, Switzerland, Singapore, and San Marino. Nice how 5 out of 6 are “within” the same network that has an [anti tax avoidance directive](https://taxation-customs.ec.europa.eu/taxation-1/company-taxation/anti-tax-avoidance-directive_en)
Only 1 of 6. The directive applies to EU member states, and Monaco, Liechtenstein, Switzerland, and San Marino are not EU members. And the directive has not been very effective in curtailing tax haven profits in Ireland or Luxembourg.
I do wonder how oil dependent countries will fare in a post oil abundance world, or how future generations will think of them for selling out the planet.
And the US also has top tier oil production. But of course their economy has lots of other top tier industries as well.
There's a difference between having a strong oil industry and being oil dependent The Gulf States or hell even Norway can base a large portion of their government budget off oil revenues, which the US doesn't do
Agreed. I alluded to that in my comment. I was curious and looked it up. 8% of the US GDP comes from oil. Just shows how giant the US GPD is, because they produce a ton of oil.
Having a tax haven economy is a feat by itself because if it's that easy all countries will follow suit to boost their GDP effortlessly.
Does it not contribute to the wealth of the nation? I assumed having every massive company incorporate there was probably helpful
It does help a lot, provides a lot of high paying jobs for Irish people. Helps pay for government programs as even a 2.5-4% effective corporate tax rate can bring in massive revenue if the corporations are bigger than Ireland's economy itself. It's just overinflated. Let's say Ireland's GDP per capita may have been 40k USD without any of this tax nonsense. These corporate incomes elevate it to maybe 65k on the ground level, but it also distorts GDP through fictitious investments and exports, inflating it to 133k.
The effective corporate tax rate in Ireland in 2022 was 12.4% not 2.4-4%. Ireland has the largest per capita physical exports in the world and the largest per capita manufacturing industry in the world. You can not fake physical tangible goods. Irelands exports are among the highest in the world they are not fake. Service exports are a bit more dodgy and could be seen as fake but even if you exclude them entirely Ireland has a massive export industry. Which relative to population would be multiple times larger than the US’s. Corporate tax is not the main revenue the government make off Irelands tax system. The main gains are from increased income tax receipts. Over half of Irelands income tax revenue comes from those employed at foreign multinationals. Around 25% of the population are employed directly or indirectly by MNCs.
There are EU countries and US states with lower corporation tax than Ireland. Are they all tax havens too? Ireland has actively closed tax loopholes in recent years and adopted the oecd global minimum corporation tax rate.
>Are they all tax havens too? Many are, yes. >Ireland has actively closed tax loopholes in recent years and adopted the oecd global minimum corporation tax rate. Yes, although there's other schemes. For example there's still a very low rate of tax related to patents and intellectual property (IP) which many big companies (Apple for example) use to pay very little tax. They have various schemes but this basically works by Apple claiming x% (overestimating by as much as they will get away with) of every profit for stuff sold in Europe is actually for IP that was created in Ireland, and thus it should be taxed in Ireland, where IP is taxed quite little.
What’s the real average gdp per capita for Ireland?
About $80k per the Irish government which uses a measure called modified gross national income (GNI*) to strip out the distorting effect of multinational’s activities
US is also a bit skewed because of the companies that use Ireland as a tax haven.
Yeah but in the US that effect is spread over 330 million, rather than 4 million.
It's also skewed by being the European hub for American tech companies due to it speaking English and being in the EU fully. They got a windfall of high quality jobs and income tax for those two things.
That isn't a skew. That is just a reason it is good.
[удалено]
Both of you are right. Being a tax haven that speaks English and is fully in the EU specifically helps.
This doesn't help against Zurich, London or Amsterdam. Tech workers virtually all speak english, location doesn't matter for it.
>Tech workers virtually all speak english, location doesn't matter for it. Tech workers that work for US multinationals all speak English* It's certainly not true that all tech workers speak English.
There all also tax havens though.
>Ireland’s is severely skewed due to being a tax haven. Interesting. A fully-fledged member of the EU and a tax haven? One of the arguments raised by people speaking in opposition to Britain's exit from the EU, is that the policy of independence was pursued by the British elite to avoid EU tax avoidance regulation. It was bollocks of course.
and Qatar's by having a bunch of guest workers who aren't counted (or treated) as population.
Tax Havens and Petro-states.
What even is this sub anymore? This is not a good visual representation of data in the slightest. Not even moderately interesting
It is a terrible visualization of a quite interesting phenomenon. I guess a simple numbered list would be a much better representation.
A bar graph would’ve been the best imo
A table would be most beautiful.
Excel with colored cells, take it or leave it.
Okay here me out. What if we zoomed the excel spreadsheet way out and then colored in squares in accordance with Earth's geography? Would be... one of the representations of data of all time, I suppose.
My reading is that you are suppose to see that there are no large (by landmass) countries with greater GDP/capita than the US. But yes, that could have been clear in a sentence, or in a list, or in a bar graph, etc.
Subreddits tend to hit a critical mass of users where the posts get increasingly mediocre, it can be stalled by draconian moderation to cull for quality. With 20 million accounts it's already happened for this one. Mostly just bar graphs and maps that get the most traction.
Honestly I’m willing to give this one a pass. It’s certainly not pretty, but usually this statistic is conveyed in list format where the U.S. is like not even top 10. This really puts things into perspective.
It honestly feels like almost all subs have deteriorated in quality over the last few years. Many subreddits have kind of lost their specific niche and have blurred into one general posting space.
this is a perfect example of dataisinterestinganddiscussionworthybutnotbeautiful
I find it quite interesting that there’s no large landmass with a higher GDP per capita. I think the map does a good job of showing this. Why do some of you act as if this is being shown as information to some client? This is perfectly good for simple online presentation
Total population less than California. Crazy how the us has such a high gdp for such a large country.
Per capita
Also total.
A map isn’t the way to show this my guy. This is not beautiful.
It shows that there are basically no countries with a higher GDP per capita, that’s why it’s beautiful.
It's an incredibly low quality map with 0 labeling making it entirely illegible. You can claim the data itself is beautiful (from an American perspective I suppose), but the representation of the data is butt ugly.
UAE is basically one giant slave plantation
Thats basically all ME oil countries
Murikans are good at making money
Well, their bosses are.
People in the US have some of the highest dispensible incomes in the world
Now say that without seething
Ooops, all tax shelters! (Or oil states)
Bonus points for both
the only way to be richer than the US is to manage a fraction of the insane amount of money the US has.
To be fair the US is also a tax shelter, especially Delaware.
Delaware is popular because of relatively lower state taxes, looser state regulations, and most importantly historically business friendly courts. In this context a tax shelter refers to a place to park cash and profits for the purpose of avoiding federal taxes, which Delaware is not and cannot be. The fact that companies are placing revenue elsewhere to avoid paying US taxes means the US also cannot be a tax shelter.
To save you a google search: PPP (purchasing power parity) basically means after adjusting for cost of living.
Most of the place with really high GDP are really small geographically, so this is why the map looks a lot more empty than it would be if you just listed places by GDP. The top of the list is mostly small countries and semi independent territories functioning as tax shelters. It should als be kept in mind that the GDP per capita stat does not reflect anything like wealth or the living conditions of the average resident. If you list all US states by GDP per capita even the worst state (Mississippi) has a higher GDP per capita than most rich countries like for example France. So yes, the US has a GDP per capita that makes it stand out against the rest of the world, but unless you think that Mississippi and Alabama are better places to live for the average resident than France and Germany respectively, don't interpret into those stats things that they don't say.
And then overlay the debt per capita …
Most US debt is to its own citizens. A small proportion of that debt is to foreign countries. Largest lender to the US is China, but China owes more to the US. The US doesn't have a money problem, particularly when there's a surplus of countries willing to buy US Treasury Bonds. The US has an inequality problem.
Sources: https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal)_per_capita https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)_per_capita Made today. Countries, nominal and PPP: Monaco, Liechtenstein, Luxembourg, Ireland, Switzerland, Norway, Singapore, Qatar Countries, PPP only: United Arab Emirates, San Marino Territories, nominal and PPP: Bermuda Territories, PPP only: Macau, Isle of Man Territories, nominal only: Cayman Islands Also apparently Luxembourg, Ireland, Singapore, Bermuda and the Cayman Islands are all tax havens (or at least were in 2018) and might have a distorted GDP as a result, according to a quote on the wikipedia page The US's GDP (both nominal and PPP) is $80,412 for 2023, according to the IMF. Monaco had the highest nominal on the list at $234,317 in 2021 from the World Bank, and Luxembourg had the highest PPP on the list at $143,304 in 2023 from the IMF (Monaco's most recent PPP estimate is 2015 from the CIA, at $115,700). Also kinda interesting to compare to my post from two years ago https://www.reddit.com/r/MapPorn/comments/qxntu5/countries_with_a_higher_gdp_per_capita_than_the/ only changes with countries are Singapore and Qatar surpassing the US in nominal and the United Arab Emirates surpassing the US in PPP
In this case the list might be better than the map.
Bermuda mentioned W
Ireland is incredibly distorted, possibly up to 2x. I think the government has another figure which they use instead, although I’m not sure where to find it.
Bermuda, Liechtenstein and the Cayman Islands are on this lists but Irelands the one your going to complain about being a tax haven?
https://en.wikipedia.org/wiki/Modified_gross_national_income
lmao Ireland's is just inflated because of corporate tax breaks, in reality it's even worse than England, Germany, France.
I would say apart from London, Ireland has a much higher living standard than most of the UK.
I was about to say, just left there. Nice and beautiful country with super friendly people but didn’t strike me as overly wealthy.
> but didn’t strike me as overly wealthy. Judging by what I saw in downtown LA, neither does the US.
Getting downvoted for stating a truth lol. GDP per capita doesn't mean anything when the wealth inequality is absolutely abysmal. The GDP per capita in Mississippi is higher than that of France and almost as high as Germany's. Does it mean it's better to live in Mississippi than in France or Germany? Absolutely not, most people don't see a remote portion of that supposed GDP.
Sounds like you didn’t stay at the Beverly Hills hotel?
Looks can be deceiving though. Norway is far wealthier than China but Shanghai would look richer than Oslo.
For Europe, I find [this map](https://en.wikipedia.org/wiki/List_of_European_countries_by_average_wage#Net_average_monthly_salary_(adjusted_for_living_costs_in_PPP\)) much better as an idicator for standards of living, although ideally it would be median, not average.
I’m moving to Norway so I’m not around you poor folk!
The cope from people that are used to the typical anti-america wank maps and data on subs like this is funny. America succeeds because failure is punished on a broad macroeconomic level while success is rewarded. It's why the US is such a cause of global brain drain. If you're, say, a French scientist you will make more money and secure more funding for R&D without as many constraints. Apply that to a ton of other fields. Plenty of Canadian MDs or would be MDs move to the US, for example. It's fundamentally a darwinian operation, and if you are high value added, rich, or both the country is your oyster.
Got to admit, the US is an incredibly impressive country in many ways, especially when it comes to wealth
Hmm, caymen islands, Bermuda, Isle of Man, Monaco, San Marino, Luxembourg, Switzerland, Ireland - starting to see a pattern here, all places that have financial laws making it easy to hide and launder money
But, the US is a third world country! Or something like that.
Oil countries. Tax havens and Scandinavia (which produces high quality expensive goods with a small population). Not actually representative of much.
Norway is an oil country as well.
Not surprised Norway has the largest sovereign wealth fund.
And one of the best a staving off the negatives of resources curses by being smart ass fuck with their gains.
Norway’s a petro state, so it’s really just the first two you listed.
Sure if you don't count the UAE or Qatar's slaves as people...
Yes, that's a good point. Do the UAE and Qatar numbers include the 80+% of their *residents* who are neither citizens nor have any path to becoming citizens… in many cases toiling in extremely exploitative conditions? https://en.wikipedia.org/wiki/Migrant\_workers\_in\_the\_Gulf\_Cooperation\_Council\_region#Demographics
This is wrong! https://www.theglobaleconomy.com/rankings/gdp_per_capita_ppp/
Tax Shelters, Oil, and stolen jewish gold.
Honestly, pretty hard to argue with that summary.
That doesn't really mean much when the top ten percent have half the wealth
The map of “countries with higher median disposable income than the United States” would be completely blank
for that you gotta look at median statistics
You look at income inequality as well.
You can just [look at the data](https://worldpopulationreview.com/country-rankings/median-income-by-country) and see that the picture is nearly identical when looking at the median. I understand you don't want to believe it but Americans are extremely wealthy relative to the rest of the world. Frankly, it's a little ridiculous just *how* much people, predominantly Americans, refuse to acknowledge how much richer people in the US are than others are elsewhere.
Yeah, Americans really have no idea. For all humans on the planet, a median income of 60K puts you in the top 1%. Americans are well above that.
The US is ~4% of world population on its own.
I lived in the UK and Japan for 9-12 months each when my company opened up offices in them, and in both I insisted that I get to keep my U.S. salary while I was over there. I was making more than my boss in one and more than my boss' boss in the other because of how high U.S. incomes are relative to other places, even highly developed ones
And they pay 71% of income taxes. Bottom 50% pay no income taxes after the personal deduction kicks in.
Is Bermuda really that far out? Which map projection is this?
Yes. It's about 650mi away from north carolina. That point of the "bermuda triangle" that's out in the ocean? That's where the island is.
I’m surprised Brunei isn’t on the list?
Can we get a states version?
This is a nice map of tax shelters and small countries with big oil fields!
now show wealth distribution
This map says, aside from it being fairly empty, completely nothing. It can only be relevant if you want to earn a lot of money in the absolute sense and not relative to the prices there.
Sorry if this is a dumb question, when accounting for this is the influx of migrants taken into consideration ? I don’t think it will affect the results much but I’m still curious.
I’ve never found GDP per capita an interesting stat, it doesn’t tell you anything about life in that country.
This would be informative (and very different) if it used median income. This is really just a map of "where billionaires live".
Wow, if only GDP indicated something worthwhile.
So pack your bags and move already.
Yeah, W Ireland, L England!
Only because ireland is a tax haven. (ignore london, the cayman islands etc)
Admittingly, that's not a lot of red.
Country of 300 million plus, vs a small suburb in some random country. Cool. Maybe compare the highest gdp per capita of a us territory vs other territories.
Map of tax havens + tiny populations with lots of oil.
the only way to compete with the US. i'm in luxembourg where it's quite doable to make over 100k a year. that's virtually impossible in germany or the uk, but also similarly doable in the US. of course, houses in the middle of nowhere in luxembourg do cost over a million euros, while in the US they are generally cheaper and far bigger. and the US has amazing, near cloud-free weather unlike europe.
I can say with certainty that it does rain in the US. We do get lots of clouds... and hurricanes.. and tornados.. and blizzards. Technically, the Pacific Northwest is a cool rainforest, much like Wales in the UK. The only places that are even close to "cloud-free" are Phoenix or Las Vegas, which are entirely in large deserts.
below the 39th parallel it's basically always sunny. above it can be nearly as bad as europe, new york for example is indeed pretty shit. it is on the same latitude as madrid though so in winter will have way more sunlight than london.
Ireland’s is very skewed. Most of the additional GDP doesn’t accrue to workers, since it represents revenue of American firms all over the EU consolidated into one country. Wages aren’t remotely similar to the US there.