Visualizing the Countries Most Reliant on Tourism


This post is by Dorothy Neufeld from Visual Capitalist

Visualizing the Countries Most Reliant on Tourism

Visualizing the Countries Most Reliant on Tourism

Without a steady influx of tourism revenue, many countries could face severe economic damage.

As the global travel and tourism industry stalls, the spillover effects to global employment are wide-reaching. A total of 330 million jobs are supported by this industry around the world, and it contributes 10%, or $8.9 trillion to global GDP each year.

Today’s infographic uses data from the World Travel & Tourism Council, and it highlights the countries that depend the most on the travel and tourism industry according to employment—quantifying the scale that the industry contributes to the health of the global economy.

Ground Control

Worldwide, 40 countries rely on the travel and tourism industry for more than 15% of their total share of employment. Unsurprisingly, many of the countries suffering the most economic damage are island nations.

At the same time, data reveals the extent to which certain larger nations rely on tourism. In New Zealand, for example, 479,000 jobs are generated by the travel and tourism industry, while in Cambodia tourism contributes to 2.4 million jobs.

Rank Country T&T Share of Jobs (2019) T&T Jobs (2019) Population
1 Antigua & Barbuda 91% 33,800 97,900
2 Aruba 84% 35,000 106,800
3 St. Lucia 78% 62,900 183,600
4 US Virgin Islands 69% 28,800 104,400
5 Macau 66% 253,700 649,300
6 Maldives 60% 155,600 540,500
7 St. Kitts & Nevis 59% 14,100 53,200
8 British Virgin Islands 54% 5,500 30,200
9 Bahamas 52% 103,900 393,200
10 Anguilla 51% 3,800 15,000
11 St. Vincent & the Grenadines 45% 19,900 110,900
12 Seychelles 44% 20,600 98,300
13 Grenada 43% 24,300 112,500
14 Former Netherlands Antilles 41% 25,700 26,200
15 Belize 39% 64,800 397,600
16 Cape Verde 39% 98,300 556,000
17 Dominica 39% 13,600 72,000
18 Vanuatu 36% 29,000 307,100
19 Barbados 33% 44,900 287,400
20 Cayman Islands 33% 12,300 65,700
21 Jamaica 33% 406,100 2,961,000
22 Montenegro 33% 66,900 628,100
23 Georgia 28% 488,200 3,989,000
24 Cambodia 26% 2,371,100 16,719,000
25 Fiji 26% 90,700 896,400
26 Croatia 25% 383,400 4,105,000
27 Sao Tome and Principe 23% 14,500 219,200
28 Bermuda 23% 7,800 62,300
29 Iceland 22% 44,100 341,200
30 Thailand 21% 8,054,600 69,800,000
31 Malta 21% 52,800 441,500
32 New Zealand 20% 479,400 4,822,000
33 Lebanon 19% 434,200 6,825,000
34 Mauritius 19% 104,200 1,272,000
35 Portugal 19% 902,400 10,197,000
36 Gambia 18% 129,600 2,417,000
37 Jordan 18% 254,700 10,200,000
38 Dominican Republic 17% 810,800 10,848,000
39 Uruguay 16% 262,500 3,474,000
40 Namibia 15% 114,600 2,541,000

Croatia, another tourist hotspot, is hoping to reopen in time for peak season—the country generated tourism revenues of $13B in 2019. With a population of over 4 million, travel and tourism contributes to 25% of its workforce.

How the 20 Largest Economies Stack Up

Tourist-centric countries remain the hardest hit from global travel bans, but the world’s biggest economies are also feeling the impact.

In Spain, tourism ranks as the third highest contributor to its economy. If lockdowns remain in place until September, it is projected to lose $68 billion (€62 billion) in revenues.

Rank Country Travel and Tourism, Contribution to GDP
1 Mexico 15.5%
2 Spain 14.3%
3 Italy 13.0%
4 Turkey 11.3%
5 China 11.3%
6 Australia 10.8%
7 Saudi Arabia 9.5%
8 Germany 9.1%
9 United Kingdom 9.0%
10 U.S. 8.6%
11 France 8.5%
12 Brazil 7.7%
13 Switzerland 7.6%
14 Japan 7.0%
15 India 6.8%
16 Canada 6.3%
17 Netherlands 5.7%
18 Indonesia 5.7%
19 Russia 5.0%
20 South Korea 2.8%

On the other hand, South Korea is impacted the least: just 2.8% of its GDP is reliant on tourism.

Travel, Interrupted

Which countries earn the most from the travel and tourism industry in absolute dollar terms?

Topping the list was the U.S., with tourism contributing over $1.8 trillion to its economy, or 8.6% of its GDP in 2019. The U.S. remains a global epicenter for COVID-19 cases, and details remain unconfirmed if the country will reopen to visitors before summer.

Travel and tourism contribution to GDP in absolute terms

Meanwhile, the contribution of travel and tourism to China’s economy has more than doubled over the last decade, approaching $1.6 trillion. To help bolster economic activity, China and South Korea have eased restrictions by establishing a travel corridor.

As countries slowly reopen, other travel bubbles are beginning to make headway. For example, Estonia, Latvia, and Lithuania have eased travel restrictions by creating an established travel zone. Australia and New Zealand have a similar arrangement on the horizon. These travel bubbles allow citizens from each country to travel within a given zone.

Of course, COVID-19 will have a lasting impact on employment and global economic activity with inconceivable outcomes. When the dust finally settles, could global tourism face a reckoning?

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The Future of Supply Chain Automation


This post is by Dorothy Neufeld from Visual Capitalist

How Fast Are Supply Chains Truly Automating?

The Future of Supply Chain Automation

As Amazon continues to set the bar for efficiency by integrating an astounding spectrum of automation technology, it’s becoming increasingly apparent that traditional supply chain models are ripe for disruption.

For this reason, companies around the world are now rethinking their warehouse and distribution systems, with automation taking center stage.

Today’s infographic from Raconteur highlights the state of automation across global supply chains, while also providing an outlook for future investment.

Long Time Coming

Let’s start by taking a look at what supply chain technologies are priorities for global industry investment in the first place:

Rank Technology % of Companies* Investing in Tech
#1 Warehouse automation 55%
#2 Predictive analytics 47%
#3 Internet of things 41%
#4 Cloud logistics 40%
#5 Artificial intelligence 28%
#6 Blockchain 22%
#7 Autonomous vehicles 16%
#8 Machine-learning 16%
#9 Fulfillment robots 11%
#10 3D printing 10%
#11 Augmented reality 7%
#12 Drones 7%
#13 Crowd-sourced delivery 6%
#14 Virtual reality and digital twins 6%
#15 Delivery robots 4%

*Based on survey of supply chain professionals in retail, manufacturing, and logistics fields

As seen above, warehouse automation has already received more investment (55%) than any other supply chain technology on the list, as companies aim to cut delivery times and improve overall margins.

Interestingly, other areas receiving significant investment—such as predictive analytics, internet of things, or artificial intelligence—are technologies that could integrate well into the optimization of supply chain automation as well.

Smoothing the Transition

While fully automated supply chains in most industries may still be a few years away, here is how companies are investing in an automated future today:

Timeline For Acquiring New Automation Tech % of Warehouse Managers Surveyed
Already have 23%
Have, looking to upgrade 8%
Within 12 months 10%
One to three years 21%
Three to five years 8%
Over five years 3%
Not looking 26%

According to the above data, over 70% have already integrated automation technology, or are planning to within the next five years. On the flip side, over a quarter of warehouse managers are not currently looking to integrate any new automation tech into their operations at all.

Adoption Rates and Growth

As supply chain automation gains momentum and industry acceptance, individual processes will have varying adoption rates.

Take order fulfillment, for instance. Here, only 4% of current operations are highly automated according to a recent survey from Peerless Research Group:

Order Fulfillment Operations (Picking and Packaging) Percentage of Respondents
Highly automated 4%
A mix of automated and manual processes 42%
Mostly or all manual 49%
Not applicable 5%

Meanwhile, 49% of operations were primarily manual, illustrating potential for growth in this particular area.

It’s worth noting that other individual supply chain components, such as conveyor belts, storage, automated guided vehicles, and shuttle systems, will all have differing trajectories for automation and growth.

Post-COVID Supply Chains

The COVID-19 pandemic has shown us that complex supply chains can become fragile under the right circumstances.

As supply chains see increased rates of automation and data collection becomes more integrated into these processes, it’s possible that future risks embedded in these systems could be mitigated.

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Making Billions: The Richest People in the World


This post is by Dorothy Neufeld from Visual Capitalist

Making Billions: The Richest People in the World

The Richest People in the World

In the last year, the wealth controlled by the world’s top 10 billionaires has jumped by over $76B.

Even in the teeth of jittery markets, many of the world’s richest people have seen their wealth surge to new heights as COVID-19 unfolds.

Today’s infographic draws data from Forbes Billionaire’s List and shows a broad cross-section of the world’s billionaires – highlighting their stratospheric wealth in the current economic climate.

Wealth in Astonishing Circumstances

The below table shows the fortunes of the world’s 10 richest people, comparing the numbers from March 5, 2019 to the most recent data from April 22, 2020.

Rank Name Net Worth 2020* Net Worth 2019* Change 2019-2020
#1 Jeff Bezos $145B $131B +$14.1B
#2 Bill Gates $104B $97B +$7.1B
#3 Bernard Arnault & Family $92B $76B +$15.5B
#4 Warren Buffett $73B $83B -$9.1B
#5 Mark Zuckerberg $69B $62B +$6.5B
#6 Larry Ellison $66B $63B +$3.4B
#7 Steve Ballmer $63B $41B +$21.3B
#8 Amancio Ortega $61B $63B -$2.2B
#9 Larry Page $58B $51B +$7.6B
#10 Jim Walton $57B $45B +$12.0B
Total Change +$76.2B

Source: Forbes – *As of April 22, 2020 **As of March 5, 2019

Gaining the highest across the top 10 is former Microsoft CEO Steve Ballmer, who saw his fortune rise over $21 billion since March 2019.

Facing the steepest losses belong to investing luminary Warren Buffett, whose net worth has dropped over $9 billion over the past year. At year-end 2019 Buffett was a 11% shareholder in Delta Airlines. In April, Buffett sold 13 million shares in the airline.

Meanwhile, Mark Zuckerberg’s fortune is holding steady. Amazingly, the Facebook founder still remains one of the world’s youngest billionaires (ranking 22nd out of 2,095) despite first joining the billionaire club a dozen years ago.

Newcomers to the List

As a new decade begins, who are among the most newly-minted billionaires?

Eric Yuan, CEO of Zoom has climbed in the ranks as online video communication demand soars. Zoom went public in April 2019 at a stunning $9.2 billion IPO valuation. As of April 24, 2020, Zoom was valued at over $44.3 billion.

Rank Name Net Worth Source of Wealth
#1 Eric Yuan $7.8B Zoom
#2 Anthony von Mandl $3.9B Mark Anthony Brands
#3 Larry Xiangdong Chen $3.6B GSX Techedu
#4 Dmitry Bukhman $3.1B Playrix
#5 Igor Bukhman $3.1B Playrix
#6 Sun Huaiqing $3.0B Guangdong Marubi Biotechnology
#7 Forrest Li $2.4B Sea Group
#8 Byju Raveendran $1.7B Byju’s
#9 Jitse Groen $1.5B Takeaway.com
#10 Qian Ying $1.5B Muyuan Foods

*As of April 22, 2020

Similarly, Netherland’s Jitse Groen has witnessed his food-delivery company Takeaway.com expand extensively. Takeaway.com currently operates in 11 countries across Europe and received regulatory approval to complete a $7.6 billion merger with JustEat in April.

Forrest Li who runs Sea, an online-gaming and e-commerce company, has similarly joined the ranks. Tencent and private equity firm General Atlantic are among its major stakeholders.

The COVID-19 Response

As the global economy contends with a loss of confidence and job losses, some of the world’s richest people are stepping up to the plate.
Billionaires with COVID-19 donations

Twitter CEO Jack Dorsey is donating roughly 25% of his net worth to COVID-19 in the form of Square stock, valued at $1B.

His donation, which was placed in a donor-advised fund called Start Small LLC, is more than four times higher than any other billionaire. That said, after the pandemic, Dorsey also stated that this money may also go towards girl’s health and education, as well as universal basic income (UBI).

Rank Name COVID-19-Related Donation % of Net Worth
#1 Jack Dorsey $1B 25.6%
#2 Bill & Melinda Gates $255M 0.2%
#3 Azim Premji $132M 2.2%
#4 Andrew Forrest $100M+ 1.2%+
#5 Jeff Bezos $100M 0.1%
#6 Michael Dell $100M 0.4%
#7 Lynn Schusterman, Stacy Schusterman $70M 2.1%
#8 Amancio Ortega $68M 0.1%
#9 Nicky Oppenheimer $54.5M 0.7%
#10 Johann Rupert $54.5M 1.1%

*As of April 15, 2020

Overall, 77 of the world’s billionaires have made public contributions related to the COVID-19 pandemic, just a fraction of the world’s ultra-rich.

As COVID-19 continues to spread globally, will the world’s billionaires still accumulate wealth at greater speeds, or will a different picture emerge as unconventional policies around the world become increasingly commonplace?

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Mapped: The World’s Ultra-Rich, by Country


This post is by Dorothy Neufeld from Visual Capitalist

Mapped: The World's Ultra-Rich, by Country

Mapped: The World’s Ultra-Rich, by Country

The global number of ultra-high net-worth individuals (UHNWIs) — those with over $30 million in assets — has continued to rise over the years.

Today’s infographic draws data from Knight Frank’s 2020 Wealth Report released in March, and it shows which countries have the highest number of UHNWIs, as well as how that number is projected to change in years to come.

No Ordinary Millionaire

To start, let’s look at where the world’s wealthiest could be found in 2019, which is both the peak of the decade-long bull market and the most recent year of data covered by the report.

Rank Country Ultra-High Net Worth Population 1-Year Change (%)
#1 🇺🇸 United States 240,575 5.9%
#2 🇨🇳 China 61,587 14.7%
#3 🇩🇪 Germany 23,078 0.8%
#4 🇫🇷 France 18,776 7.9%
#5 🇯🇵 Japan 17,013 17.0%
#6 🇬🇧 UK 14,367 3.6%
#7 🇮🇹 Italy 10,701 20.8%
#8 🇨🇦 Canada 9,325 5.3%
#9 🇷🇺 Russia 8,924 3.9%
#10 🇨🇭 Switzerland 8,395 3.0%
#11 🇪🇸 Spain 6,475 -1.1%
#12 🇮🇳 India 5,986 0.2%
#13 🇰🇷 South Korea 5,847 21.6%
#14 🇸🇪 Sweden 5,174 0.3%
#15 🇸🇦 Saudi Arabia 5,100 0.0%

While the U.S. maintained its foothold, the ultra-rich in South Korea and Italy have grown over 20% each since 2018. An economic model focused on exports, conglomerates, and select manufacturing industries could likely be behind the UHNWI boom in South Korea.

Interestingly, the number of ultra-wealthy in Saudi Arabia increased by only one individual between 2018 and 2019.

Multi-Millionaire Next Door

Taking a closer look, what made up the wealth of this ultra rich population? Knight Frank found that 27% of UHNWI wealth was locked up in property investments:

Property as an Investment Equities Bonds/Fixed Income Cash Private Equity Collectables Gold/Precious Metals Crypto
27% 23% 17% 11% 8% 5% 3% 1%

In terms of more liquid assets, the average UHNWI held 23% of their wealth in equities, 17% in bonds, 11% in cash, and 3% in precious metals. It will be illuminating to see how, or if, this changes in the aftermath of the ongoing COVID-19 economic crisis.

The Future Destination Hubs

Fast-forward to 2024, and Knight Frank estimates that the global hotspots of the world’s wealthiest will remain consistent, with some notable winners over the decade.

UHNWI Population Growth (2014-2024)

The greatest difference will be the rising cohort of the ultra-wealthy in China and India, both projected to grow by triple digits between 2014 and 2024. This burgeoning middle class in China is driving domestic consumption and is transforming the consumer landscape.

Rank Country UHNWIs (Projected, 2024) 10-Year Change (Projected, %)
#1 🇺🇸 U.S. 293,136 67.0%
#2 🇨🇳 China 97,082 135.8%
#3 🇩🇪 Germany 26,819 45.0%
#4 🇫🇷 France 22,728 29.7%
#5 🇯🇵 Japan 19,110 63.3%
#6 🇬🇧 UK 18,818 36.7%
#7 🇮🇹 Italy 12,508 17.6%
#8 🇨🇦 Canada 11,928 54.8%
#9 🇷🇺 Russia 11,019 4.8%
#10 🇮🇳 India 10,354 238.3%

As the ripple effects of COVID-19 continue to take hold, experts pose differing opinions on how its impacts on the global economy will unfold.

Could the crash hasten the number of ultra-rich as inequality is laid bare, or will wealth be redistributed in response to the unprecedented crisis?

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The Hardest Hit Companies of the COVID-19 Downturn: The ‘BEACH’ Stocks


This post is by Dorothy Neufeld from Visual Capitalist

Beach stocks shrinking market cap

BEACH Stocks: $332B in Value Washed Away

The market’s latest storm has plunged the global travel industry into uncharted territory.

Since the S&P 500 market high on February 19, 2020, market capitalizations across BEACH industries—booking, entertainment, airlines, cruises, and hotels—have tumbled. The global airline industry alone has seen $157B wiped off valuations across 116 publicly traded airlines.

Investor confidence in cruise lines has also dropped. Between Carnival, Royal Caribbean, and Norwegian Cruise Line Holdings, over half of their market value has evaporated—equal to at least $42B in combined market capitalization.

Today’s infographic profiles the steep losses across BEACH companies. It looks at the ripple effects across individual companies and industries from the February 19 peak to date*.

*All numbers as of market close on March 24, 2020

Falling Off A Cliff

As the COVID-19 pandemic has spread to over 100 countries, many governments have implemented sweeping travel restrictions.

The impact across BEACH industries is far-reaching, with some valuations declining to nearly a quarter of their previous total.

Company Ticker Category Market Cap: 02/19/2020 Market Cap: 03/24/2020 % Change
Booking Holdings BKNG Booking $80.8B $51B -37%
Expedia Group EXPE Booking $17.1B $8.1B -53%
Allegiant Travel ALGT Booking $2.7B $1.4B -47%
Live Nation LYV Entertainment & Live Events $16.3B $9.1B -44%
Six Flags SIX Entertainment & Live Events $3.2B $1.1B -66%
Cedar Fair FUN Entertainment & Live Events $3.1B $1.3B -58%
The Walt Disney Co DIS Entertainment & Live Events $255.1B $177B -31%
Penn National Gaming PENN Entertainment & Live Events $4.3B $1.6B -63%
Delta Air Lines DAL Airlines $37.5B $17.8B -52%
United Airlines UAL Airlines $19.7B $8.4B -57%
American Airlines AAL Airlines $12.1B $6.1B -50%
Southwest Airlines LUV Airlines $29.5B $19.7B -33%
Alaska Air Group ALK Airlines $8B $3.7B -54%
Air Canada (in USD) AC Airlines $8.3B $2.8B -67%
Carnival CCL Cruise & Casino $30.8B $10B -67%
Royal Caribbean Cruises RCL Cruise & Casino $23.2B $7.5B -68%
Norwegian Cruise Lines NCLH Cruise & Casino $11.1B $3.1B -72%
Las Vegas Sands LVS Cruise & Casino $52.8B $35.1B -34%
MGM Resorts International MGM Cruise & Casino $16.2B $6.2B -68%
Wynn Resorts WYNN Cruise & Casino $14.6B $7.2B -51%
Caesars Entertainment CZR Cruise & Casino $10B $4.2B -58%
Eldorado Resorts ERI Cruise & Casino $5.4B $1.3B -76%
Marriott International MAR Hotels & Resorts $48.3B $25.7B -48%
Hilton HLT Hotels & Resorts $31.3B $19.4B -38%
Hyatt Hotels H Hotels & Resorts $9.1B $4.9B -46%
Choice Hotels International CHH Hotels & Resorts $6B $3.2B -46%
Wyndham Hotels & Resorts WH Hotels & Resorts $5.6B $2.9B -48%
Park Hotels PK Hotels & Resorts $5.5B $1.9B -66%
Vail Resorts MTN Hotels & Resorts $9.98B $5.8B -41%
Marriott Vacations Worldwide VAC Hotels & Resorts $5.3B $2.2B -59%

For instance, the consequences on various travel bookings brands have been severe. Booking Holdings, the parent company to Booking.com, Priceline, Kayak and OpenTable, witnessed share price declines of over 35% since the peak.

Empty Stadiums

Across the entertainment industry, ticket sales for concerts, movies, and other events are falling precipitously due to cancellations or postponements.

Upwards of $5B in global film industry losses could result from the COVID-19 pandemic.

Chilling footage of the Las Vegas strip, as well as other tourist epicenters around the world, shows deserted streets as visitors opt to stay home instead.

Bracing For Impact

Meanwhile, worldwide airline revenue is estimated to fall by as much as $113B in 2020.

In under two months, the share price of Delta Airlines has fallen over 50% as the company anticipates a capacity reduction of 40%, the largest in its history.

Company Ticker Feb 19 2020 Share Price Mar 24 2020 Share Price
Delta Air Lines NYSE:DAL $58.5 $26.9
United Airlines NASDAQ:UAL $79.4 $33
American Airlines NASDAQ:AAL $28.3 $13.9
Southwest Airlines NYSE:LUV $56.89 $37.7
Alaska Air Group NYSE:ALK $65.2 $28.9
Air Canada (in CAD) TSX:AC $45.3 $15.1

The global airline industry—which employs over 10M people—supports $2.7T in global economic activity across an average of 12M passengers per day.

Aruba, Jamaica No More

As for the cruise line industry, global operations came to a 30-day standstill in mid-March. Over 800 COVID-19 cases and 10 deaths across three cruise ships have been discovered.

“COVID-19 on cruise ships poses a risk for rapid spread of disease, causing outbreaks in a vulnerable population, and aggressive efforts are required to contain spread.”

CDC

Carnival, a Miami-based company, has witnessed its share price fall to around one third of its February 19 value. Similarly, Royal Caribbean Cruises, which has seen its market cap plummet almost 70%, announced that it will suspend trips until mid-May.

Occupancy Dilemma

As the hotel industry is impacted by the global outbreak, share prices have also realized a significant slump. In the U.S., an estimated $1.4B in revenue is vanishing each week. If occupancy levels fall by just 30% this year, the U.S. hotel industry could see approximately 4 million jobs wiped out.

The Baird/STR Hotel Stock Index, which serves as a benchmark for the sector’s overall health, has declined over 47% year-to-date.

baird hotel stock index

Global Stimulus Response

A number of travel industries around the world are calling for stimulus packages.

On March 25, the U.S. Congress finalized a historic $2T deal, which includes $25B in grants for the airline industry. In the UK, officials are providing small businesses in hospitality and leisure grants that are worth up to $30,000 as part of its $400B bailout plan.

China, Germany, Italy, and Spain have outlined multibillion dollar proposals in response to COVID-19. Overall, at least eleven countries have announced stimulus plans along with the European Commission and the IMF.

When Will the Travel Wave Hit Again?

Amid the COVID-19 pandemic one thing is clear: the impact on the travel industry will have a marked effect on the broader economy.

Travel is closely linked with oil, as transportation accounts for over 60% of global demand. In Q2 2020, global oil consumption is projected to fall by 25M barrels per day.

Along with this, discretionary consumer spending makes up over one third of America’s GDP. The impact of the pandemic across this sector is expected to contribute to a 10% decline or more in U.S. GDP for the second quarter.

As conditions materially improve around the world—with China beginning to open up flights—positive signs are emerging from under the surface. Will BEACH industries quickly bounce back as infection rates drop, or will a slow and painful recovery unfold in the months ahead?

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Opportunity Zones: Aligning Public and Private Capital


This post is by Dorothy Neufeld from Visual Capitalist

Opportunity Zones: Aligning Public and Private Capital

At the end of 2017, a potential $6.1 trillion in unrealized capital gains was available for reinvestment.

Throughout the U.S., unrealized capital gains have significant tax implications with enormous potential. Unrealized capital gains occur when the value of an asset has gone up on paper, but has not yet been sold for a profit. Taxes are triggered once the asset has been sold.

Investors can offset or defer these taxes in a few ways, including one new strategy: investing in opportunity zones.

Today’s infographic from Bedford Funds explains what opportunity zone funds are, their core benefits, and their potential impact across the country.

What is an Opportunity Zone?

Opportunity zones are U.S. Census tracts whose citizens experience economic distress.

Originating in the 2017 Tax Cuts and Jobs Act, they offer the potential to connect long-term capital with low-income communities across the country to drive return and impact.

How are opportunity zones chosen? The initial base is low-income census tracts, which have:

  • Poverty rates of at least 20%; or
  • Median family incomes lower than 80% of the surrounding area

The state’s governor or chief executive then nominates up to 25% of these areas as opportunity zones. Nationwide, a total of 8,700 opportunity zones exist, and 7.9 million of the areas’ residents live in poverty.

Overall, 35 million people live in these opportunity zones. There are a number of disparities between opportunity zones and notional averages across key variables:

  Continue reading Opportunity Zones: Aligning Public and Private Capital