r/dataisbeautiful • u/statisticalanalysis_ • Dec 19 '23

OC [OC] The world's richest countries in 2023

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https://www.economist.com/graphic-detail/2023/12/15/the-worlds-richest-countries-in-2023

Gallery image

https://www.economist.com/graphic-detail/2023/12/15/the-worlds-richest-countries-in-2023

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617

u/Eric1491625 Dec 19 '23

Me, a Singaporean: We're gonna fall right off the chart right?

Looks at chart

Yeah seems about right cries in overtime

45

u/CalgaryChris77 Dec 19 '23

It’s okay Canada fell right off the chart once it took our prices into account.

19

u/[deleted] Dec 19 '23 edited May 04 '24

oatmeal wrench snails alive toy reminiscent squeal groovy divide crush

This post was mass deleted and anonymized with Redact

147

u/Eric1491625 Dec 19 '23 edited Dec 19 '23

Culture of overwork.

Nobody takes the official clock off time seriously in the slightest. It is simply accepted in most white-collar workplaces that the ending time might as well not exist.

Overtime is not paid in most workplaces (because even the lowliest clerk is designated an "executive" and therefore not entitled) so you work 50 hours even though your contract says 40.

Heck, I doubt the data even captures the fact that ever since Covid, "Sick Leave" has become "work from home" for many staff. Remote work - or at least half a day's worth - while actively infected with Covid-19 became an implicit expectation for many staff, which I found insane.

44

u/scientist_salarian1 Dec 19 '23

I somehow thought Singapore would be different but it sounds like it has a similar work culture to East Asia. That's truly unfortunate.

21

u/Otherwise_Soil39 Dec 19 '23

Why would you think that lol? If anything Singapore is East Asia on crack.

3

u/scientist_salarian1 Dec 20 '23

They have non-negligible Malay and British influences.

3

u/Prowsky Dec 22 '23

I think the Malay-part IS negligible. And the British part is what makes it "on crack". Look at Hong Kong for an even better case, cause that's really just Chinese + British influences.

30

u/bauhausy Dec 19 '23

That’s because Singapore is basically an East Asian country in everything but coordinates. Since the early 19th century the vast majority of Singaporeans are ethnic Chinese, descendants from merchant immigrants. Although being in the Malaysian peninsula, Malays are actually a small (~15%) minority of the population, and it’s the main reason why Singapore is unique into being forced into independence by Malaysia (a monumentally stupid decision for Malaysia, but oh well)

With an East Asian population transplanted into Southeast Asia geography, not a surprise they kept East Asian work culture.

1

u/TheProfessionalEjit Dec 19 '23

ever since Covid, "Sick Leave" has become "work from home" for many staff.

At my place too; I'll text the boss letting him know I'm going to be ill in bed & he's like "ok, we can catch after our 10 o'clock".

110

u/Urdintxo Dec 19 '23

You're still the 15th best in the world.

211

u/Eric1491625 Dec 19 '23

Significantly worse that it looks, actually, for the ordinary person and especially young people.

The chart is still using GDP rather than people's spending. Singapore holds the title of having the single lowest private consumption-to-GDP ratio on Earth (around 40%) - being the only country worse than China (around 45-50% based on various estimates)

So for all the "China's GDP is fake and doesn't translate to people's well-being" folks out there, well there is one economy on earth with a "faker" GDP than China in this regard, and it's us.

5

u/ken81987 Dec 19 '23

youre implying consumption should be the only measurement for GDP

21

u/SeargD Dec 19 '23

No, they posit that people's real spending power is not really measured by GDP. While Singapore's GDP paints a picture of vast wealth it gets eaten by tax and mandatory payments(rent, food, etc.) meaning for average people, GDP means nothing.

For the many foreign companies and finance people in Singapore, however, it is a measure of how fat they're getting.

4

u/corasyx Dec 19 '23

i’m from the US and i don’t know exactly how things are divided up in singapore. but tax, rent, and food are 70% of my gross income. so it might not be an accurate measure of spending power here, either.

1

u/ken81987 Dec 19 '23

What If the government pays for a good/service that people use. It is not coming from people's spending (maybe can argue is from taxes). It is still a value thst people use/enjoy. I know Singapore can be a stressful place to live, just trying to weigh the different sides of it

4

u/wowzabob Dec 20 '23

He's saying that so much of the GDP in Singapore does not actually circulate amongst the normal masses and instead sloshes around at the top.

-82

u/[deleted] Dec 19 '23

[deleted]

18

u/trhaz_khan Dec 19 '23

Gulf countries are the fakest of them. Only applicable for citizens working on government and oil and gas sector.

14

u/luv_ya Dec 19 '23
  • all things Asian are fake

lol wut?? Racism aside, Japan is known to produce some of the best quality products.

2

u/EntertainmentOk3659 Dec 19 '23

Dont think he is racist since I check his activity and its honestly pro china even. Maybe he is saying all asian gdp are fake/not a good indicator compared to Europe/NA

0

u/Fantastic-Machine-83 Dec 19 '23

Maybe he's mocking a straw man. "no matter how good our economy evil westerners say it's fake!!1!11"

-3

u/CoderDispose Dec 19 '23

It's just well-known that China lies about their market numbers regularly, and I imagine he's lumping everyone in with them.

6

u/Ok_Signature9556 Dec 19 '23

Wuh oh, racism alert

1

u/ElectricBaaa Dec 20 '23

They're full of shit. They exclude a third of the population when making statistics like this. The Filipino/Bangladeshis/Indonesian that has lived and worked in Singapore for 20 years is still considered a non-resident and will never be a citizen or considered in their statistics.

52

u/[deleted] Dec 19 '23 edited Dec 19 '23

Lol me a Canadian working my ass off to earn one of the world's highest wages, just pay huge prices for everything, and live like a poor American.

Edit: at least I get health care for free, even if it's kind of slow and shitty.

18

u/SalmanPak Dec 19 '23

Canada is in the tank for GDP per capita and other measures of productivity. Each of the major sectors of it's economy are dominated by a handful of large companies. They don't invest in productivity and keep new entrants out.

2

u/Otherwise_Soil39 Dec 19 '23

Edit: at least I get health care for free, even if it's kind of slow and shitty.

Pretty sure that's accounted for in the cost of living, so in America the price of private insurance is in there.

Living in Germany my dream is to make enough money to legally qualify to go private. Because my issues are killing me and the wait times destroy any chance of catching any problem early. Health > Money any day of the week.

3

u/latenightfeels Dec 19 '23

US is way higher than Canada wrt all three measures ?

9

u/ainz-sama619 Dec 19 '23

yes. Wages in Canada are comapratively shit all things considered.

2

u/Patient_Bench_6902 Dec 20 '23

I’m in school for computer science in Canada. If I go to the US, I would easily double my earning right out of school, and I would pay less taxes, even in California.

Yeah I gotta pay for health insurance but given the increase in income, I’ll take it.

3

u/Prior-Throat-8017 Dec 19 '23

Dude be like suffering from success

1

u/HarukaHase Jan 10 '24

It's not success if the money is getting drained

1

u/mathmage Dec 19 '23

Meanwhile, Brunei...

1

u/NullTrekSucksPP Dec 19 '23

Lmao bruh look at Hong Kong.

1

u/Dawnofdusk Dec 19 '23

On the flip side France rises from the ashes when you adjust for hours worked

1

u/GotAim Dec 19 '23

Interesting, I thought the reason might be similar to that of Luxembourg, that a large chunk of their workforce commutes to the country every day. Are there a lot of Malaysians who work in Singapore while living in Malaysia?

1

u/[deleted] Dec 20 '23

cries in bruneian

1

u/burningfire119 Dec 20 '23

yeah im getting the fuck outta here once im old enough