🎓 +30% Hispanic Enrollment. Clean Energy Investments. 5.2K Millionaires Migrate.
Chart of the Day #59 looks at Higher-Ed Enrollments by Race, Millionaire Migration Destinations, and Renewable Energy Investments.
Labas 👋
Due to migration, China is expected to have lost 13,500 high-net-worth individuals (HNWI) in 2023. India is in second place, with an outflow of 6,500 HNWIs. The outflow is not particularly concerning for India, as it produces far more new millionaires than the amount lost to migration.
Today's Topics
- 🎓 Higher-Ed Enrollments. 30% growth in Hispanic Higher-Ed enrollments since 2012
- 💸 Renewable Energy. Public renewable energy investment share grows to 34%
- 🤑 Migrant Millionaires. Australia attracts 5,200 millionaires in migration
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🎓 30% Growth in Hispanic Higher-Ed Enrollments Since 2012
The college enrollment landscape witnessed a shift in 2010, where White student enrollments fell for the first time since the turn of the century. Since then, there has been a 20% decline in White student enrollments, reaching 10M students by 2023.
In 2012, Hispanic enrollment surpassed Black enrollment for the first time since the 1970s, growing by 30% since then and currently holding an enrollment gap of 1.28M students. Strategies including targeted recruitment efforts to recruit Hispanic students, improved programming for diversity, equity, and inclusion (DEI) on campus, and the choice made by many schools to eliminate the necessity for standardized test scores have contributed to the increase in Hispanic enrollment rates. The rapid growth in the Hispanic population is a likely contributor, with the Hispanic population reaching 62.1 million in 2020, which comprises 19% of the US populace. This makes Hispanics the second-largest racial/ethnic group.
💸 Public Renewable Energy Investment Share Grows to 34%
Although private renewable energy investments have held a majority share globally, in 2017, the proportion of public investments saw a significant spike, climbing from 12% to 34% of the total share of renewable energy investments. In absolute terms, both forms of renewable energy investments have been increasing. Despite macroeconomic, geopolitical, and supply chain challenges, global investments in renewable energy technologies reached a record high of $1.8T in 2023, following a 40% growth since 2020. However, the majority of recent growth has been concentrated in advanced economies and China. Currently, there is a growing need for directing public funds to regions with untapped potential and to support renewable infrastructure development, which is a limiting factor in many developing economies.
🤑 Australia Attracts 5,200 Millionaires in Migration
Australia emerges as the top destination for migrating millionaires in 2023, welcoming an estimated net influx of 5,200 millionaires. The country's appeal likely lies in its high quality of life, advanced economy, and excellent healthcare and education opportunities. While migrants predominantly originate from Asia and Africa, there has been a recent increase in migrants from high-income nations like the UK.
The UAE secured second place with around 4,500 millionaires, one of the highest counts on national record. Overall safety, business-friendly tax regimes, and high quality of life are attractive attributes that could attract migrants. Singapore ranked third with 3,200 millionaires. Singapore stands out as a prominent tech hub in Asia, marked by substantial government backing for startups and a robust technological infrastructure.
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