![]() ![]() Nearby Saudi Arabia, U.A.E., and Oman are all poorer than Qatar per capita, yet they are happier places. Qatar only scores a 6.37 on the Cantril Ladder, making it a big exception even within the context of the already-outlying Middle East. Interestingly, in Qatar, which is actually the wealthiest country in the world on a per capita basis ($127k), things are even more out of whack. We just mentioned the Middle East as a place where the wealth-happiness continuum doesn’t seem to hold up as well as it does in other places in the world. Within regions, there is even plenty of variance. ![]() are all on the other side of the trend line. Countries like Saudi Arabia, Qatar, Iran, Iraq, Yemen, Turkey, and the U.A.E. ![]() ![]() In the Middle East, the situation is mostly reversed. Whether it’s the country’s rugged coastlines or the local culture that does the trick, Costa Rica has higher happiness ratings than the U.S., Belgium, or Germany – all countries with far higher levels of wealth. In Latin America, people self-report that they are more satisfied than the trend between money and happiness would predict.Ĭosta Rica stands out in particular here, with a GDP per capita of $15,400 and a 7.14 rating on the Cantril Ladder (which is a measure of happiness). Some of the most obvious outliers can be found in Latin America and the Middle East: This variance is where things get interesting. For a double from $30k to $60k, the relationship still holds – but it tends to have far more variance. In general, this means that as a country’s wealth increases from $10k to $20k per person, it will likely slide up the happiness scale as well. Then later, when material elements of Maslow’s hierarchy are met, the relationship gets harder to predict. Sources for data are the World Bank and the World Happiness Report 2017.Īccording to the numbers, the relationship between money and happiness is strong early on for countries. Today’s chart looks at the relationship between GDP per capita (PPP) and the self-reported levels of happiness of each country. Just like these hypotheticals, the data tells a similar story when we look at countries. These resources translate to real changes for Jill, potentially increasing her level of satisfaction with life. On the flipside, Jill also has more in the bank and is likely able to use those additional resources to provide better opportunities for her family, get out of debt, or improve her work-life balance. Who do you think would be happiest if their wealth was instantly doubled?īeff might be happy that he’s got more in the bank, but materially his life is unlikely to change much – after all, he’s a billionaire. Let’s say you have two hypothetical people: one of them is named Beff Jezos and he’s a billionaire, and the other is named Jill Smith and she has a more average net worth. Today’s chart approaches this fundamental question from a data-driven perspective, and it provides one potential solution: money does buy some happiness, but only to a limited extent. It’s a longstanding question that has many different answers, depending on who you ask. Explore the high resolution version by clicking here. Today’s chart is best viewed full-screen. Charting the Relationship Between Money and Happiness ![]()
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