Global South World - global economy https://www.globalsouthworld.com en-US Morocco has one of the world's highest unbanked populations at over 70% https://www.globalsouthworld.com/article/morocco-has-one-of-the-world-s-highest-unbanked-populations-at-over-70 https://www.globalsouthworld.com/article/morocco-has-one-of-the-world-s-highest-unbanked-populations-at-over-70?feed=global%20economy Tue, 15 Apr 2025 17:55:26 Z Despite rapid advances in fintech and mobile money platforms, financial access remains out of reach for hundreds of millions, especially in developing nations.

A recent analysis published by Global Finance reveals alarming statistics about global financial exclusion and highlights the countries where the highest percentages of adults remain unbanked.

According to the report, Morocco tops the global list, with 71% of its adult population unbanked, followed closely by Vietnam (69%), Egypt (67%), and the Philippines (66%).

Other nations in the top 10 include Mexico (63%), Nigeria (60%), Peru (57%), Colombia (54%), Indonesia (51%), and Argentina (51%).

The data paints a broader global challenge: more than 1.6 billion adults worldwide remain without access to basic banking services such as savings accounts, loans, and insurance—according to figures from the World Bank .

In North Africa, for example, gender gaps in account ownership remain wide. In South and Southeast Asia, mobile phone adoption is high, yet mobile banking services often go underutilised due to a lack of awareness or digital barriers.

The road to financial inclusion

Financial experts emphasise the importance of expanding digital banking services, improving financial education, and designing inclusive banking systems that serve low-income and marginalised populations.

"It fosters economic growth and employment, promotes economic empowerment of women, and contributes to eliminating poverty. Financial inclusion supports entrepreneurship and business growth," according to a report by the World Bank Group .

As the global economy becomes increasingly digital, bridging this gap will be critical—not just for growth but for equity.

]]> Global South World World Visualized World Visualized Over 1.6 billion adults worldwide remain unbanked, according to the World Bank—meaning they have no access to even the basic #financial services such as savings, insurance, or credit. Inability to store #money (1) The evolving landscape of global sovereign wealth funds https://www.globalsouthworld.com/article/the-evolving-landscape-of-global-sovereign-wealth-funds https://www.globalsouthworld.com/article/the-evolving-landscape-of-global-sovereign-wealth-funds?feed=global%20economy Thu, 13 Mar 2025 15:30:01 Z Sovereign wealth funds (SWFs) have emerged as powerful financial instruments, enabling nations to strategically invest surplus wealth for future generations. The global SWF landscape is evolving, with new players emerging and traditional dominance being challenged.

Norway's Sovereign Wealth Fund: A Global Leader

The Norwegian Government Pension Fund Global tops the list, managing an impressive $1.74 trillion, primarily accumulated from oil and gas revenues. This fund has shifted towards technology-driven investments, with stakes in Apple, Microsoft, and Nvidia generating record-breaking profits. Recently, the country hinted it was looking at tapping money from the funds to support Ukraine.

China's Growing Influence

China's two major funds, collectively controlling $2.39 trillion, are fuelling the country's global infrastructure and energy initiatives, particularly through the Belt and Road Initiative. China's growing economic influence is reflected in its expanding SWF portfolio.

Middle East Dominance

The Middle East remains a dominant force in the SWF landscape, with Kuwait, the UAE, and Saudi Arabia collectively holding over $3 trillion in assets. These funds play a crucial role in economic diversification, ensuring long-term stability beyond oil revenues.

Indonesia's Rise to Prominence

A standout in this year's ranking is Indonesia's sovereign wealth fund, Badan Pengelola Investasi Daya Anagata Nusantara. With a staggering $983 billion, the fund has rapidly expanded, now surpassing some of the longest-established funds in the world . Unlike resource-driven funds, Indonesia's SWF focuses on infrastructure, digital transformation, and sustainable development, attracting global investors eager to capitalise on the nation's economic growth.

]]> Global South World World Visualized World Visualized Sovereign wealth funds (SWFs) have become powerful financial instruments, allowing nations to strategically invest surplus wealth for future generations.The Norwegian Government Pension Fund Global tops the li (2) China, India projected to be the world's top economies in 2075 https://www.globalsouthworld.com/article/china-india-projected-to-be-the-world-s-top-economies-in-2075 https://www.globalsouthworld.com/article/china-india-projected-to-be-the-world-s-top-economies-in-2075?feed=global%20economy Tue, 18 Feb 2025 20:30:01 Z According to projections by Goldman Sachs , the global economic landscape is expected to grow by more than four times, reaching $280 trillion by 2075, with emerging markets, particularly in Asia and Africa, ascending in economic prominence.

Based on real GDP measured in 2021 U.S. dollars, the outfit's analysis anticipates the following rankings for the world's largest economies by 2075:

These projections suggest a notable shift, with emerging economies such as Indonesia , Nigeria, Pakistan, and Egypt rising to prominence alongside established economic powers.

Countries like Nigeria , Pakistan, and Egypt are projected to experience substantial population growth, which will lead to larger workforces and increased economic output.

It's important to note that these projections are based on current data and trends. Unforeseen events, policy changes, and global economic shifts could alter these trajectories.

]]> Global South World The World in Maps The World in Maps Here are the Top 10 Economies by Goldman Sach’s Projections for 2075.The global economic landscape is constantly shifting. Renowned global brokerage firm Goldman Sachs has taken a step into the future with its pro Top 10 countries with the highest percentages of millionaires https://www.globalsouthworld.com/article/top-10-countries-with-the-highest-percentages-of-millionaires https://www.globalsouthworld.com/article/top-10-countries-with-the-highest-percentages-of-millionaires?feed=global%20economy Thu, 16 Jan 2025 18:55:41 Z Data from Credit Suisse and the Global Wealth Databook indicates the distribution of millionaires.

The data also reveals interesting insights into global wealth concentration.

Here are the top 10 countries with the highest percentages of millionaires relative to their adult populations:

Switzerland

Switzerland tops the list with the highest percentage of millionaires. Approximately 15.6% of the adult population in Switzerland are millionaires. The country's stable economy, robust financial sector, and favourable tax policies contribute to this high concentration of wealth.

Hong Kong

Hong Kong boasts a high percentage of millionaires, with 9.9% of its adult population falling into this category. Its status as a global financial hub and its strategic location in Asia contribute to its wealth concentration.

Australia

Australia has 9.4% of its adult population classified as millionaires. The country's strong economy, high standard of living, and significant investments in real estate and resources are key factors.

United States

The United States, with its large population, has a significant number of millionaires. About 9% of American adults are millionaires. The US economy's diversity and innovation, particularly in technology and finance, play a crucial role in wealth creation.

Netherlands

The Netherlands has a millionaire percentage of 8.6%. Its advanced economy, high level of social welfare, and strong financial sector support wealth accumulation.

Norway

In Norway, 8.2% of the adult population are millionaires. The country's strong social welfare system, high standard of living , and innovative industries contribute to this wealth distribution.

Denmark

Denmark has 8.0% of its adult population classified as millionaires. Its northern location in Europe, strong economy, and high quality of life are key factors.

New Zealand

New Zealand has 7.0% of its adult population being millionaires. The UK's diverse economy, strong financial sector, and high levels of foreign investment support wealth accumulation.

Singapore

Singapore, known for its business-friendly environment and strategic location, has 6.7% of its adult population as millionaires. The city-state's robust financial services sector and high levels of foreign investment are major contributors.

Canada

Canada has a millionaire percentage of 6.7%. Its stable economy, high quality of life, and strong real estate market help in wealth creation.

What is the percentage of millionaires in your country?

]]> Global South World World Visualized World Visualized Switzerland leads the world in millionaire density, with 15.6% of its population holding millionaire status - a total of 1.2 million individuals. Hong Kong follows closely, where 9.9% of the population are mil (1) Top 10 countries with the highest self-employment rates https://www.globalsouthworld.com/article/top-10-countries-with-the-highest-self-employment-rates https://www.globalsouthworld.com/article/top-10-countries-with-the-highest-self-employment-rates?feed=global%20economy Mon, 11 Nov 2024 18:43:03 Z With the growing unemployment rates due to the state of the global economy, it has only become common for individuals to start businesses.

In some countries, especially in Africa , it will only take a miracle to be employed in the public or private sector two or three years after tertiary education.

In this case, according to the International Labour Organisation, self-employment is gaining massive momentum globally.

According to data from the World Economic Forum and the International Labour Organisation, here are the top 10 countries with the highest self-employment rates:

Niger - 95.1%

Ethiopia - 85.6%

Afghanistan - 84.3%

Nigeria - 80.6%

India - 76.1%

Bangladesh - 59.0%

Pakistan - 55.6%

Vietnam - 53.7%

Indonesia - 52.6%

Colombia - 50.9%

]]> Global South World World Visualized World Visualized According to the International Labour Organization’s latest Global Employment Trends for Youth 2024 report, the global job outlook for young people has been improving—and it’s set to continue. However, significant BRICS countries and their GDP in trillion dollars https://www.globalsouthworld.com/article/brics-countries-and-their-gdp-in-trillion-dollars https://www.globalsouthworld.com/article/brics-countries-and-their-gdp-in-trillion-dollars?feed=global%20economy Tue, 05 Nov 2024 16:40:20 Z The BRICS nations, Brazil, Russia, India, China, and South Africa, continue to play a significant role in the global economy.

These countries collectively boast a GDP of approximately $29 trillion, making up about 27.94% of the global economy.

This impressive figure is largely driven by China's massive economic output .

As the largest economy within the BRICS framework, China’s GDP stands at around $17.96 trillion. This positions China as a central pillar within the group, contributing significantly to the overall economic strength of BRICS.

India follows with a GDP of approximately $3.39 trillion. India's economy has been growing rapidly, and it is expected to continue this trend, potentially surpassing other major economies in the coming years.

Russia's GDP is about $2.24 trillion. The country’s economy is heavily influenced by its energy sector, particularly oil and gas exports, which play a crucial role in its economic performance.

Brazil's GDP is around $1.92 trillion. Despite facing economic challenges in recent years, Brazil remains a key player in the BRICS alliance due to its vast natural resources and large market of billionaires.

BRICS' newest member, Saudi Arabia also boasts a GDP of $1.92 trillion. The Kingdom's economy is largely driven by its oil sector, but it is also making significant strides in diversifying its economic activities.

South Africa on the other hand has a GDP of approximately $0.41 trillion. Despite its smaller size, South Africa is a vital member due to its strategic importance and role as a gateway to the African continent.

The BRICS countries collectively represent a significant portion of the world's economic activity. Their combined GDP is nearly on par with that of the United States , which stands at around $26.94 trillion.

This economic power allows the BRICS nations to exert considerable influence on global economic policies and trends.

]]> Global South World World Visualized World Visualized Originally formed by Brazil, Russia, India, and China (later joined by South Africa), the BRICS group has grown into a major geopolitical force. As of January 2024, BRICS has expanded to include Iran,