Compounding Is the 8th Wonder of the World, Says KKR's McVey As I read about Henry Kravis' speech at the 2022 World Economic Forum in Davos, Switzerland, where he declared compounding to be the "8th wonder of the world," I couldn't help but think of its significance for travelers.
Like many concepts in finance, compound interest may seem esoteric and far removed from our everyday lives, but it has a profound impact on how we plan, budget, and save for trips.
Understanding the Concept of Compounding Compound interest is a financial concept where interest earned on an initial principal amount (or investment) generates additional interest over time.