******* had the highest level of the Human Development Index (HDI) worldwide in 2023 with a value of *****. With a score of ****, ****** followed closely behind *********** and had the second-highest level of human development in that year. The rise of the Asian tigers In the decades after the Cold War, the four so-called Asian tigers, South Korea, Singapore, Taiwan, and Hong Kong (now a Special Administrative Region of China) experienced rapid economic growth and increasing human development. At number eight and number 13 of the HDI, respectively, *********************** are the only Asian locations within the top-15 highest HDI scores. Both locations have experienced tremendous economic growth since the 1980’s and 1990’s. In 1980, the per capita GDP of Hong Kong was ***** U.S. dollars, increasing throughout the decades until reaching ****** in 2023, which is expected to continue to increase in the future. Meanwhile, in 1989, Singapore had a GDP of nearly ** billion U.S. dollars, which has risen to nearly *** billion U.S. dollars today and is also expected to keep increasing. Growth of the UAE The United Arab Emirates (UAE) is the only Middle Eastern country besides Israel within the highest ranking HDI scores globally. Within the Middle East and North Africa (MENA) region, the UAE has the third-largest GDP behind Saudi Arabia and Israel, reaching nearly *** billion U.S. dollars by 2022. Per capita, the UAE GDP was around ****** U.S. dollars in 1989, and has nearly doubled to ****** U.S. dollars by 2021. Moreover, this is expected to reach over ****** U.S. dollars by 2029. On top of being a major oil producer, the UAE has become a hub for finance and business and attracts millions of tourists annually.

This statistic presents the leading life insurance companies in Hong Kong in 2015, based on gross premiums written. HSBC Life led the ranking in 2015, with gross premiums written amounting to approximately *********** U.S. dollars.

Insurance sector in Hong Kong – additional information

Hong Kong has one of the most developed insurance markets in the region and it has attracted many of the world’s top insurance companies. The companies which have written the most life insurance premiums in Hong Kong include HSBC Life, AIA International and Prudential (UK), followed by China Life. For non-life insurance, AXA General, local CTPI (HK), Zurich Insurance and Bupa rounded out the top four premium writing companies in 2015.

It can be observed that life insurance premiums greatly outnumber the number of non-life insurance premiums written. Over ********** U.S. dollars of life insurance premiums had been written in 2015, compared to only slightly more than ********* U.S. dollars of non-life insurance premiums. The life insurance sector in Hong Kong is as strong as it is because the market is well developed and the population is aging in addition to having the highest life expectancy around the world.

Furthermore, per capita GDP is rising and the population is venturing into retirement planning and wealth management. In Hong Kong, saving for retirement begins at the early age of **. These conditions have contributed to the rising demand for life insurance in Hong Kong. While growth in the non-life insurance market is not as strong, there is still international interest in the non-life insurance market.

In 2023, Switzerland led the ranking of countries with the highest average wealth per adult, with approximately ******* U.S. dollars per person. Luxembourg was ranked second with an average wealth of around ******* U.S. dollars per adult, followed by Hong Kong SAR. However, the figures do not show the actual distribution of wealth. The Gini index shows wealth disparities in countries worldwide. Does wealth guarantee a longer life? As the old adage goes, “money can’t buy you happiness”, yet wealth and income are continuously correlated to the quality of life of individuals in different countries around the world. While greater levels of wealth may not guarantee a higher quality of life, it certainly increases an individual’s chances of having a longer one. Although they do not show the whole picture, life expectancy at birth is higher in the wealthier world regions. Does money bring happiness? A number of the world’s happiest nations also feature in the list of those countries for which average income was highest. Finland, however, which was the happiest country worldwide in 2022, is missing from the list of the top twenty countries with the highest wealth per adult. As such, the explanation for this may be the fact that the larger proportion of the population has access to a high income relative to global levels. Measures of quality of life Criticism of the use of income or wealth as a proxy for quality of life led to the creation of the United Nations’ Human Development Index. Although income is included within the index, it also has other factors taken into account, such as health and education. As such, the countries with the highest human development index can be correlated to those with the highest income levels. That said, none of the above measures seek to assess the physical and mental environmental impact of a high quality of life sourced through high incomes. The happy planet index demonstrates that the inclusion of experienced well-being and ecological footprint in place of income and other proxies for quality of life results in many of the world’s materially poorer nations being included in the happiest.

The statistic shows the 20 countries with the lowest fertility rates in 2024. All figures are estimates. In 2024, the fertility rate in Taiwan was estimated to be at 1.11 children per woman, making it the lowest fertility rate worldwide. Fertility rate The fertility rate is the average number of children born per woman of child-bearing age in a country. Usually, a woman aged between 15 and 45 is considered to be in her child-bearing years. The fertility rate of a country provides an insight into its economic state, as well as the level of health and education of its population. Developing countries usually have a higher fertility rate due to lack of access to birth control and contraception, and to women usually foregoing a higher education, or even any education at all, in favor of taking care of housework. Many families in poorer countries also need their children to help provide for the family by starting to work early and/or as caretakers for their parents in old age. In developed countries, fertility rates and birth rates are usually much lower, as birth control is easier to obtain and women often choose a career before becoming a mother. Additionally, if the number of women of child-bearing age declines, so does the fertility rate of a country. As can be seen above, countries like Hong Kong are a good example for women leaving the patriarchal structures and focusing on their own career instead of becoming a mother at a young age, causing a decline of the country’s fertility rate. A look at the fertility rate per woman worldwide by income group also shows that women with a low income tend to have more children than those with a high income. The United States are neither among the countries with the lowest, nor among those with the highest fertility rate, by the way. At 2.08 children per woman, the fertility rate in the US has been continuously slightly below the global average of about 2.4 children per woman over the last decade.