Factors that encourage wealth growth
According to our research, the main factors that encourage a country’s wealth growth include:
Strong security: The safety of women and children is especially important.
Media freedom and neutrality – What is important is that a country’s main news media is neutral and objective.
Strong ownership – Zimbabwe provides a case to show when something will happen
Deprivation of ownership – Once fundraising is deprived, they tend to lose value because no one is willing to buy anything.
Strong economic growth – Economic growth is often associated with wealth growth.
A well-established banking system and stock market – ensuring that people invest and develop wealth locally. It also ensures that GDP growth leads to wealth growth.
Low levels of government intervention – Government tampering with the business sector has created enormous inefficiencies in the economy. Governments and private companies as well as parastatals are also a problem.
Low income tax and corporate tax rate – Dubai and Singapore are examples of the power that tax rates can have in encouraging business formation – tax rates are very low
Easy to invest – Barriers such as foreign exchange controls inhibit wealth growth.
Wealth immigration – the migration of wealthy people to this country helps create wealth
Female safety index
Every year we do a review of the safest countries in the eyes of women. After several cases of celebrity sexual harassment of women in the United States, female safety is the hottest topic in the past few years. It is worth noting that women’s safety is one of the best ways to measure the long-term wealth growth potential of a country. The correlation between historical wealth growth and safety level is over 90%. This means that the improvement of women’s safety in a country has promoted wealth growth.
A note worthy of attention:
Australia is the safest country for women’s safety.
The safest country:
The five safest countries for women worldwide are:
Australia
Malta
Iceland
new Zealand
Canada
The safest country:
Europe: Malta, Macau, Iceland, Switzerland
Asia Pacific: Australia, New Zealand, Japan, Korea
Africa: Mauritius, Botswana, Naumebia
Americas: United States, Canada
Spotlight: The rise of Australia
After several years of strong growth and development, Australia can now be said to be the world’s leading economy. It is worth noting that if the financial center is excluded from Monaco, Liechtenstein, Luxembourg and Switzerland, then Australia will become the richest country in the world (calculated on the basis of per capita wealth).
The reason why Australia’s per capita wealth is so high:
It has been the fastest growing first world market (in terms of economic growth, income growth and real estate price growth) for the past 20 years.
Low population density – only 25 million people and large areas of land. Also rich in minerals.
It is very safe and encourages wealth growth.
High prices and rising real estate, especially on the East Coast.
HNWIs have been moving to the country for the past 20 years.
Location – It benefits from strong business ties with emerging Asian countries such as China, Japan and South Korea.
High minimum wage (lack of cheap labor)
Interestingly, in the past 20 years, Australia’s wealth has grown by about 140%, equivalent to 90% of the US growth rate (in US dollars). As a result, the average Australian is now richer than the average American citizen, which was not the case 20 years ago.
In fact, Australia is now the world’s first world country (not the United States) in a range of measures including safety, health care, social services and per capita wealth. The United States only accounts for the world’s total wealth and gross domestic product, but it is important to remember that more than 300 million people in the United States live there.
In the past few years, Australia has attracted more millionaires (HNWIs) than any other country (see the section of the HNWI), which shows that many rich people think this is the best long-term prospect.
Other factors that make Australia one of the world’s major countries:
Political structure – Australia can be said to be the most politically developed country in the world. Australian politicians are seen as everyday civil servants and have no extreme power. It is worth noting that if party members think they need to change, the Australian Prime Minister will usually replace it between elections. Australian politicians don’t have much security, they are often in public places around themselves. In most other countries, including the United States, politicians have excessive security, which sends a very bad message to people every day. Australian politicians are considered to be easily replaced, which may be the way it should be.
Australia has the highest minimum wage in the world. In general, the country lacks cheap labor because of its small population and limited immigration. In addition, most immigrants allowed to enter Australia are professionals (doctors, lawyers, engineers, etc.). Therefore, many manual jobs, such as babysitters, babysitter work, painting and architecture, were completed by young Australians a few years before they went. Go to college. It’s worth noting that in Australia, the people who paint your house are often the chief executives of the country, because many young people in Australia need years to travel and do manual work before/after the university. It is worth noting that in Australia, the difference in wages between manual and corporate work is small – this can promote greater equality in society.
New trends usually begin in Australia first. For example, the climate change movement began in Australia early, as did the women’s safe women’s movement. In addition, plastic banknotes begin there. In the future, Australia’s point-based immigration policy will appear to be replicated in the US and UK. In addition, Australia does not allow foreigners to purchase second-hand housing (they can only buy new homes) or they may be copied elsewhere in the future.
The only area in which Australia still lags far behind the United States is large multinationals (especially in technical space). As of December 2018, the United States is 8 of the top 10 companies in the world by market capitalization (the other two are located in China). Australia has some catch-ups in this area.