Average Annual Hours Worked by Workers in OECD Country in 2022 or Latest: Chart

The average hours worked per year for countries was published by OECD recently. According to their date, the Colombian worker worked the most at over 2,405 hours per year. The average American worked just over 1,810 hours per year. The EU average was 1,570 hours. Germany had the lowest hours per worker at 1,340 hours per year.

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Source: Have the Germans become lazy at work?, Deutsche Welle

A German study disputes the OECD findings arguing that instead of less work actually more work is being done by a German worker and the female participation in the labor force is also the highest over the past 30 years.

Comparing Ferrari’s Profit Per Unit to Other Auto Makers

Italian luxury auto maker Ferrari NV (RACE) is the most profitable automaker in the world. In 2023, the company shipped out just 13,663 vehicles. Total revenue in that year was 5.97 billion Euros with a profit of 1.257 billion Euros. According to industry analyst Felipe Munoz, the operating profit for each car was an astonishing 117,927 Euros. Ferrari’s net profit margin in 2023 was 21.42%.

Here is a breakdown of operating profit per unit of other automakers as calculated by Felipo Munoz of Car Expert of Australia:

Note: The figures below are in Australian $s.

ManufacturerUnits sold (global)Profits per unit  (approx. AUD)
Jaguar Land Rover (JLR)420,584$13,871
BMW (incl. Mini)2,253,835$11,793
Toyota (incl. Lexus, Daihatsu, Hino)11,230,000$4530
Volkswagen Group (incl. PorscheAudiSkoda)9,240,000$3981
General Motors6,200,000$2765
Aston Martin6620-$31,554

Source: Ferrari’s profit per vehicle puts every other brand in the shade, Car Expert

The below cool infographic shows how many units other auto manufacturers have to sell to beat Ferrari’s profit per unit:

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Source: @MichaelAArouet via syz Group

Ferrari listed its stock on the NYSE in Oct, 2015. Since then the stock has soared by over 638% as the chart shows below:

Source: Google Finance

The following chart shows the 5-year returns:

Source: Google Finance

Currently Ferrari has a market cap of $78 billion. This is higher than the market caps of Stellantis N.V(STLA) and General Motors Co (GM).

Investors who got in on the IPO or even picked up the stock in the past few years have enjoyed excellent returns.

Disclosure: No positions

India’s Sensex Hits A New All-Time Record High

India’s Sensex is on a roll this year. The index is up by over 4% so far this year. Last week it reached an all-time high of 75,636 before closing at 75,410 on Friday. This is indeed amazing. The Sensex reached 10,000 in 2017. Since then it has crossed peak after peak. It reached 25,000 in 2014 and crossed 50,000 in 2021 on the back of strong recovery from the depths of the Covid-19 pandemic.

Currently India is in the midst of a national election and the results are expected on Tuesday, June 4th. It should be interesting to watch how the Sensex reacts and where it stands by the end of the year.

The following chart shows the YTD return of the Sensex:

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The following chart shows the 5-year return of the Sensex:

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Source: Google Finance

With the election results looming on the horizon and the market at record high, investors looking to invest in Indian equities can wait for the right opportunity.

For additional data on Sensex annual returns and a list of Sensex return charts click here.

Related ETFs and ETNs:

  • WisdomTree India Earnings (EPI)
  • The iShares MSCI India ETF (INDA)
  • PowerShares India (PIN)

Disclosure: No positions

EU Visa Agreements with Non-EU Countries: Graphic

A Schengen visa is required for non-Europeans to travel to the EU or the Schengen area countries. However the EU has visa agreements with many non-EU countries for citizens of those countries to travel to the EU without a visa. While most developed countries have this type of visa-free travel between them, I was surprised to find that the EU allows visa-free travel from many developing countries as well. For example citizens of Brazil, can travel to the EU without a visa for short-stays like for tourism purposes. In fact, most of the countries in Latin and South America have visa-free travel agreements with the EU as the graphic shows below. These agreements are reciprocal in the sense that citizens of the respective EU country can also visit the other non-EU country visa-free. So EU citizens can visit Brazil visa-free.

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Source: European Council and the Council of the EU

In the Middle East, UAE citizens can travel to the EU visa-free. Same goes for Malaysian citizens also.

One question that comes to mind is if Mexicans and other South Americans can go to the EU without a visa, why are they going there and stay there illegally instead of flooding into the US. Spain would be an obvious choice for Spanish-speaking countries due to the language and historical connections.