🚀 $450B in Space. 28% Chronic Absenteeism. 2B+ Urban Population.
Chart of the Day #25 looks at the Global Space Economy, Chronic Absenteeism and Urbanization.
Kon'nichiwa 👋
Japan’s ‘Moon Sniper’ makes a historic lunar landing becoming the world’s fifth country to put a spacecraft on the moon. Iran launches three satellites to test communication and geopositioning technology, as well as the efficacy of delivering cargo to space. China launches its reusable space plane for the third time.
Today's Topics
- 🚀 Space Investments. $450B Space Economy Revenue.
- 🙋♂️ Chronic Absenteeism. Chronic Absenteeism Peaks at 28% in 2022.
- 🌎 Urbanization. Urban Population Up 2 Billion by 2050.
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🚀 $450B Space Economy Revenue
The increasing demand for satellite communication, earth observation, and space tourism is paving the way for the global space industry to surpass $500B in revenue by 2025 and this is mainly driven by the private sector. The main catalyst behind this increase in revenue is commercial space products and services, with commercial infrastructure and support industries closely trailing behind. SpaceX's Starlink constellation exemplifies this trend, revolutionizing internet access through an expanding network of satellites. Moreover, the US government's investment in space endeavors far exceeds the space budgets of non-US governments, highlighting the US as the leading participant in the global space economy.
🙋♂️ Chronic Absenteeism Peaks at 28% in 2022
Global pandemic lock downs triggered a significant rise in chronic absenteeism, with rates peaking at 28% in 2022 during the Omicron outbreak. Rates improved however in 2023, dropping to 26%. Escalating inflation rates forcing higher tuition fees and transportation costs could be contributing to the surge in chronic absenteeism in the US. Furthermore, disparities in chronic absenteeism based on race are evident, with Hispanic and Black students exhibiting higher rates compared to their Asian and white counterparts.
🌎 Urban Population Up 2 Billion by 2050
The urban population is expected to witness a substantial increase of nearly 2 billion people globally. Across all income categories, the urban population is growing, with a significant surge in low and lower-middle-income countries. On the other hand, the rural population is diminishing in all categories except the low-income segment. Africa shows the highest rates of urbanization despite facing many economic struggles. Western Asia also consistently exhibits the most significant urbanization trends over the years and its rural populations remain relatively stagnant.
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