2026-01-24 23:35:50
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Following Russia’s invasion of Ukraine and renewed concerns about global security, NATO members have accelerated military investment after years of underfunding.
This visualization ranks NATO countries by their estimated defense spending in 2025, highlighting how military budgets vary widely across the alliance. While all members now meet NATO’s 2% of GDP guideline, the absolute dollar amounts reveal stark differences in scale and capacity.
The data for this visualization comes from the latest NATO report on spending. Germany’s figure reflects 2024 spending, the most recent data available.
The United States remains the backbone of NATO’s military power, with an estimated $980 billion in defense spending. This represents roughly 62% of NATO’s total defense budget, far exceeding any other member.
| Rank | Country | 2025e Spending (USD, millions) |
|---|---|---|
| 1 |
 United States |
980,000 |
| 2 |
 Germany* |
93,747 |
| 3 |
 United Kingdom |
90,508 |
| 4 |
 France |
66,531 |
| 5 |
 Italy |
48,800 |
| 6 |
 Poland |
44,314 |
| 7 |
 Canada |
43,886 |
| 8 |
 Spain |
35,670 |
| 9 |
 Türkiye |
32,573 |
| 10 |
 Netherlands |
28,107 |
| 11 |
 Norway |
16,490 |
| 12 |
 Sweden |
15,207 |
| 13 |
 Denmark |
14,303 |
| 14 |
 Belgium |
13,739 |
| 15 |
 Romania |
9,308 |
| 16 |
 Finland |
8,587 |
| 17 |
 Greece |
7,673 |
| 18 |
 Czechia |
7,223 |
| 19 |
 Portugal |
6,391 |
| 20 |
 Hungary |
4,807 |
| 21 |
 Lithuania |
3,607 |
| 22 |
 Slovak Republic |
3,094 |
| 23 |
 Bulgaria |
2,389 |
| 24 |
 Croatia |
2,006 |
| 25 |
 Latvia |
1,653 |
| 26 |
 Slovenia |
1,513 |
| 27 |
 Estonia |
1,504 |
| 28 |
 Luxembourg |
1,350 |
| 29 |
 Albania |
570 |
| 30 |
 North Macedonia |
358 |
| 31 |
 Montenegro |
174 |
| — |
 NATO Total |
1,587,999 |
*Germany spending data is from 2024.
While European allies have increased spending significantly, the U.S. still provides the bulk of the alliance’s capabilities, from advanced weapons systems to global force projection.
Among European members, the United Kingdom ($90.5 billion), Germany ($93.7 billion), and France ($66.5 billion) lead the pack.
Germany’s rapid rise in defense spending marks a historic shift, as the country moves away from decades of military restraint. Poland also stands out, with spending of $44.3 billion, reflecting its frontline position and heightened security concerns in Eastern Europe.
Smaller NATO members contribute far less in absolute terms, but many are now spending a significant share of national resources on defense. Countries such as Estonia, Latvia, and Lithuania—each spending under $4 billion—have among the strongest commitments relative to GDP.
Outside Europe, Canada ($43.9 billion) and Türkiye ($32.6 billion) play key strategic roles within the alliance.
If you enjoyed today’s post, check out How Balanced Is Economic Growth Within Countries? on Voronoi, the new app from Visual Capitalist.
2026-01-24 21:01:21
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“Blue Zones” are regions of the world where people live longer and healthier lives, supported by habits that boost longevity.
Loma Linda, California is one of the few recognized Blue Zones, alongside Okinawa, Japan and Ikaria, Greece. Just as place can have a powerful influence on health outcomes, differences vary meaningfully across America.
This graphic shows the healthiest U.S. states, based on data from America’s Health Rankings Report by the UnitedHealth Foundation.
For the analysis, states were measured on 99 indicators such as economic hardship, smoking rates, and mortality rates. Overall values were measured in z-scores, with a score of 0 representing the national average.
Below, we show each state’s health rankings in 2025:
| Rank | State | Overall Score 2025 |
|---|---|---|
| 1 | New Hampshire | 0.99 |
| 2 | Massachusetts | 0.91 |
| 3 | Vermont | 0.91 |
| 4 | Connecticut | 0.68 |
| 5 | Utah | 0.64 |
| 6 | Minnesota | 0.63 |
| 7 | Washington | 0.61 |
| 8 | Maryland | 0.59 |
| 9 | Hawaii | 0.54 |
| 10 | Rhode Island | 0.51 |
| 11 | New Jersey | 0.51 |
| 12 | Colorado | 0.51 |
| 13 | Maine | 0.47 |
| 14 | Virginia | 0.40 |
| 15 | North Dakota | 0.37 |
| 16 | Idaho | 0.26 |
| 17 | Iowa | 0.24 |
| 18 | Delaware | 0.23 |
| 19 | Oregon | 0.21 |
| 20 | Nebraska | 0.20 |
| 21 | Wisconsin | 0.16 |
| 22 | North Carolina | 0.13 |
| 23 | South Dakota | 0.12 |
| 24 | California | 0.10 |
| 25 | New York | 0.09 |
| 26 | Pennsylvania | 0.07 |
| 27 | Kansas | 0.03 |
| 28 | Illinois | -0.03 |
| 29 | Wyoming | -0.04 |
| 30 | Florida | -0.05 |
| 31 | Montana | -0.05 |
| 32 | Arizona | -0.06 |
| 33 | Michigan | -0.08 |
| 34 | Ohio | -0.11 |
| 35 | Alaska | -0.13 |
| 36 | South Carolina | -0.18 |
| 37 | Indiana | -0.21 |
| 38 | Georgia | -0.27 |
| 39 | Missouri | -0.29 |
| 40 | Texas | -0.32 |
| 41 | New Mexico | -0.37 |
| 42 | Nevada | -0.39 |
| 43 | Kentucky | -0.50 |
| 44 | Tennessee | -0.55 |
| 45 | Oklahoma | -0.62 |
| 46 | West Virginia | -0.73 |
| 47 | Alabama | -0.75 |
| 48 | Mississippi | -0.77 |
| 49 | Arkansas | -0.83 |
| 50 | Louisiana | -0.94 |
The small state of New Hampshire leads the nation with a score of 0.99.
The state’s social and economic factors—seeing the lowest food insecurity, homicide rates, and highest high school completion—drive health outcomes. Additionally, it ranks among the top five in indicators like exercise rates and fruit and vegetable consumption.
As we can see, the Northeastern states of Massachusetts, Vermont, and Connecticut all follow next in line.
Utah, ranking in fifth, stands as a regional outlier. Notably, it ranks first nationally across indicators including smoking rates and income inequality. However, factors such as low public health funding and a lack of primary care providers weigh on its ranking.
Interestingly, Kansas and Illinois, both Midwestern states, had health scores falling closest to the national average.
Southern states, by contrast, see the lowest scores in health nationwide. Louisiana, with a score of -0.94 ranked worst overall, followed by bordering states, Arkansas (-0.83), and Mississippi (-0.77).
Beyond economic hardship, these states see some of the nation’s highest homicide rates, severe income inequality, and low levels of physical activity. Together, this highlights how health outcomes are shaped by a web of social and economic conditions.
To learn more about this topic, check out this graphic on America’s most common drugs.
2026-01-24 03:31:52
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Iran’s international trade has long been shaped by geopolitical pressures and economic sanctions, limiting its reach to a narrow group of countries willing—or able—to do business. The latest data from the World Trade Organization’s Trade Data Monitor gives a snapshot of which nations are still major trading partners for Iran in 2024.
The visualization above, created by Aneesh Anand, ranks Iran’s top export destinations by goods value. Here’s the export data:
| Rank | Export Destination | Value of goods exported (USD billions, 2024) | Region |
|---|---|---|---|
| 1 |
 China |
14.57 | Asia |
| 2 |
 Iraq |
11.69 | Middle East |
| 3 |
 UAE |
7.16 | Middle East |
| 4 |
Turkey |
6.09 | Middle East |
| 5 |
 Afghanistan |
2.29 | Asia |
| 6 |
 Pakistan |
2.27 | Asia |
| 7 |
 India |
1.96 | Asia |
| 8 |
 Oman |
1.56 | Middle East |
| 9 |
 Russia |
1.05 | Europe |
| 10 |
 Azerbaijan |
0.72 | Asia |
| -- |
Rest of the world |
6.58 | Rest |
| -- |
 Global Total |
56.0 | World |
China alone accounts for more than $14.5 billion of Iran’s $56 billion in total exports—about 26% of the total. Iraq and the UAE follow closely, with Türkiye and Afghanistan rounding out the top five. Meanwhile, exports to Europe remain extremely limited, with Russia being the only European nation in the top 10.
Iran’s export market is highly regional. Eight of its top 10 destinations are in Asia or the Middle East, reflecting both geographic proximity and limited global access due to sanctions. This includes smaller but geopolitically significant trade flows to Pakistan, India, and Azerbaijan.
Iran’s heavy economic reliance on oil shapes its export patterns and trade relationships. As we covered in Iran’s Oil Exports, China receives the lion’s share of Iran’s energy exports, despite U.S. sanctions and diplomatic tensions.
In January 2026, the U.S. announced 25% tariffs on countries that continue significant trade with Iran. These new measures target key players like Iraq, the UAE, and Türkiye, countries that collectively import nearly half of Iran’s goods. The sanctions aim to further isolate Iran economically, but they could also strain U.S. relations with regional allies.
Meanwhile, Iran’s economy is under growing domestic pressure. The country faces a toxic mix of inflation, currency devaluation, and limited investment, making exports one of the few lifelines for hard currency.
See how Iran’s oil exports are flowing to key buyers like China despite sanctions, only on the Voronoi app.
2026-01-24 01:35:38
Economic health, trade dynamics, and financial stability (among other factors) remain critical determinants of currency performance.
This graphic, created in partnership with OANDA, illustrates the 2025 performance of the most-traded currencies by region, offering an overall health check on some of the world’s most influential currencies.
The most-traded currency across North America, and the world, is the U.S. dollar (USD). According to the BIS, the USD has an average daily trading volume of $8.56 trillion.
In Europe, the euro (EUR) takes the top spot, with an average daily trading volume of $2.77 trillion.
Other leading regional currencies include the Japanese yen (East Asia & Pacific), Mexican peso (Latin America & Caribbean), Indian rupee (South Asia), UAE dirham (Middle East & North Africa), and South African rand (Sub-Saharan Africa).
After a challenging prior year, most major currencies rebounded in 2025, posting gains against the U.S. dollar.
The strongest performers were the Mexican peso, which surged 15.3%, and the South African rand, up 13.5%. The euro also staged a notable comeback, climbing 13.0% as easing inflation pressures and improving growth expectations supported the currency.
| Region | Currency | 2025 (% change) |
|---|---|---|
| North America | U.S. dollar (USD) | -9.1% |
| Middle East & North Africa | UAE dirham (AED) | 0.0% |
| South Asia | Indian rupee (INR) | -4.8% |
| Sub-Saharan Africa | South African rand (ZAR) | 13.5% |
| Europe & Central Asia | Euro (EUR) | 13.0% |
| East Asia & Pacific | Japanese yen (JPY) | 0.1% |
| Latin America & Caribbean | Mexican peso (MXN) | 15.3% |
Meanwhile, the Japanese yen finished the year essentially flat, gaining 0.1%, reflecting continued monetary policy divergence with the U.S.
In contrast to broad global gains, the U.S. dollar weakened sharply in 2025, falling 9.1% as slowing economic momentum and shifting interest rate expectations weighed on the currency.
The Indian rupee also declined, slipping 4.8% against the USD amid persistent structural challenges and capital flow pressures. The UAE dirham, which remains pegged to the U.S. dollar, finished the year flat, mirroring USD performance.
The reversal in currency performance highlights how quickly conditions can change in global FX markets. As capital rotated away from the U.S. dollar in 2025, several previously underperforming currencies staged strong recoveries.
For investors looking ahead, opportunities may emerge in tracking relative economic momentum, central bank policy shifts, and commodity-linked currencies. This is particularly the case in regions that showed resilience or renewed strength over the year.
OANDA can help you trade smarter with a wide range of global currencies, including the USD.
Note: Past performance is not indicative of future results.
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2026-01-23 23:21:07
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In 2025, an estimated five billion passengers took to the skies, with airline revenues projected to surpass $1 trillion.
Overall, the Asia-Pacific region was a leading driver of growth, with passenger travel up 10% over the year, largely driven by China and India. In 2026, passenger volume in the region is forecast to increase by another 7%.
This graphic shows the busiest domestic flights by region in 2025, based on data from OAG.
Here are the busiest domestic flight routes by scheduled seat capacity in each region:
| Region | Busiest Domestic Airline Route 2025 | Airport Codes | Number of Seats |
|---|---|---|---|
| Asia-Pacific | Jeju - Seoul Gimpo | CJU – GMP | 14.4M |
| Middle East | Jeddah - Riyadh | JED – RUH | 9.8M |
| Latin America | Bogotá - Medellin | BOG – MDE | 6.2M |
| Africa | Cape Town - Johannesburg | CPT – JNB | 5.5M |
| North America | Vancouver - Toronto | YVR – YYZ | 3.7M |
| Europe | Barcelona - Palma | BCN – PMI | 3.0M |
In 2025, scheduled seat capacity between Jeju and Seoul totaled 14.4 million, and over much of the past decade, it has been the busiest route globally.
Around 200 flights operate daily between Jeju International and Seoul Gimpo, the highest frequency of any route worldwide. Often dubbed the “Hawaii of South Korea,” Jeju continues to grow as a major tourist destination.
In the Middle East, Jeddah to Riyadh saw 9.8 million scheduled seats, rising 13% over the year. Jeddah houses Saudi Arabia’s busiest port, while the capital is a key hub for economic activity.
As we can see, Bogotá to Medellin in Colombia ranks highest in Latin America, with 6.2 million scheduled seats. Meanwhile, Cape Town to Johannesburg saw 5.5 million seats, the busiest in Africa.
When it comes to the busiest domestic flights overall in 2025, the Asia-Pacific region holds nine of the top 10 flights:
| Airline Route | Region | Number of Seats | Change vs 2024 |
|---|---|---|---|
| Jeju International - Seoul Gimpo | Asia-Pacific | 14.4M | 1% |
| Sapporo New Chitose - Tokyo Haneda | Asia-Pacific | 12.1M | 1% |
| Fukuoka - Tokyo Haneda | Asia-Pacific | 11.5M | 1% |
| Hanoi - Ho Chi Minh City | Asia-Pacific | 11.1M | 4% |
| Jeddah - Riyadh | Middle East | 9.8M | 13% |
| Melbourne - Sydney | Asia-Pacific | 9.0M | -3% |
| Tokyo Haneda - Okinawa Naha | Asia-Pacific | 8.1M | 0% |
| Mumbai - Delhi | Asia-Pacific | 7.6M | -4% |
| Beijing - Shanghai Hongqiao | Asia-Pacific | 7.5M | -3% |
| Shanghai Hongqiao - Shenzhen | Asia-Pacific | 7.1M | 5% |
High flight frequency and close proximity between major cities have helped drive the region’s airline industry. At the same time, rapid economic growth in countries such as India and Vietnam is fueling increased air traffic as incomes rise.
To learn more about this topic, check out this graphic on passport power around the world.
2026-01-23 21:12:48
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Who are the richest Americans of all time when wealth is adjusted for inflation?
While modern tech leaders dominate today’s billionaire rankings, America’s industrial past produced fortunes that still rival—or exceed—those seen today.
This graphic ranks American billionaires throughout history by their peak net worth, adjusted to 2025 dollars. The data for this visualization comes from Business Insider, drawing on Forbes’ 2007 list of history’s wealthiest individuals. Historical fortunes were calculated at peak wealth and adjusted to 2025 dollars using the U.S. Bureau of Labor Statistics inflation calculator. Net worth figures for living individuals reflect Forbes estimates as of December 29, 2025.
Elon Musk ranks first on the list, with an estimated net worth of $744.6 billion. His fortune reflects the explosive growth of Tesla and SpaceX.
| Rank | Name | Lifespan | Net Worth (2025 dollars) | Source of Wealth |
|---|---|---|---|---|
| 1 | Elon Musk | 1971– | $744.6B | CEO of Tesla and SpaceX |
| 2 | John D. Rockefeller | 1839–1937 | $499.0B | Founder of Standard Oil |
| 3 | Andrew Carnegie | 1835–1919 | $459.6B | Founder of Carnegie Steel |
| 4 | Cornelius Vanderbilt | 1794–1877 | $275.3B | Shipping & Railroads |
| 5 | Larry Page | 1973– | $257.6B | Co-founder of Google |
| 6 | Larry Ellison | 1944– | $249.4B | Co-founder of Oracle |
| 7 | Jeff Bezos | 1964– | $244.0B | Founder of Amazon |
| 8 | Sergey Brin | 1973– | $237.7B | Co-founder of Google |
| 9 | Mark Zuckerberg | 1984– | $227.4B | Co-founder of Facebook |
| 10 | John Jacob Astor | 1763–1848 | $180.0B | Fur Trade & Real Estate |
| 11 | Jensen Huang | 1963– | $165.4B | CEO of Nvidia |
| 12 | Stephen Girard | 1750–1831 | $156.3B | Banking & Trade |
| 13 | Steve Ballmer | 1956– | $148.3B | Former CEO of Microsoft |
| 14 | Warren Buffett | 1930– | $147.4B | Chairman of Berkshire Hathaway |
| 15 | Michael Dell | 1965– | $141.2B | CEO of Dell Technologies |
| 16 | Richard B. Mellon | 1870–1933 | $134.5B | Heir to the Mellon banking dynasty |
| 17 | Alexander Turney Stewart | 1803–1876 | $132.1B | Founder of A.T. Stewart & Co. |
| 18 | Rob Walton | 1944– | $131.2B | Walmart Heir |
| 19 | Jim Walton | 1948– | $128.5B | Walmart Heir |
| 20 | Alice Walton | 1949– | $119.7B | Walmart Heir |
| 21 | Frederick Weyerhaeuser | 1834–1914 | $118.0B | Timber, Founder of Weyerhaeuser |
| 22 | Michael Bloomberg | 1942– | $109.4B | Founder of Bloomberg LP |
| 23 | Bill Gates | 1955– | $104.0B | Co-founder of Microsoft |
| 24 | Marshall Field | 1834–1906 | $98.2B | Founder of Marshall Field & Company |
| 25 | Sam Walton | 1918–1992 | $95.8B | Founder of Walmart |
| 26 | Jay Gould | 1836–1892 | $95.1B | Railroad |
| 27 | Henry Ford | 1863–1947 | $88.8B | Founder of Ford Motor Company |
| 28 | Andrew W. Mellon | 1855–1937 | $82.5B | Heir to the Mellon banking dynasty |
Despite the rise of technology billionaires, industrial-age magnates remain firmly entrenched near the top. John D. Rockefeller’s Standard Oil empire translates to nearly $500 billion today, while Andrew Carnegie’s steel fortune exceeds $450 billion when adjusted for inflation.
These fortunes were built during periods of rapid industrialization, when monopolistic advantages and limited regulation allowed wealth to compound at extraordinary rates.
Beyond founders and innovators, the ranking also highlights multigenerational wealth.
Members of the Walton family—Rob, Jim, and Alice Walton—each appear individually, reflecting Walmart’s enduring scale. Banking and industrial dynasties such as the Mellons and figures like Stephen Girard and John Jacob Astor illustrate how early control over finance, trade, and land helped shape America’s first great fortunes.
If you enjoyed today’s post, check out What the Top 1% Richest Americans Pay in Taxes Across the U.S. on Voronoi, the new app from Visual Capitalist.
