I have just updated (for the first time since 2004) my page on Population of the World's Monarchies, to reflect events in Nepal and the latest population estimates from Wikipedia. My conclusion is that, sadly, with the loss of Nepal (a country of about 29, 519,000 people) and other factors, the percentage of people living in monarchies has declined from about 8.6% to about 8% of the world's population. That may seem like a small change, but it's significant when we're talking about percentages of such a huge number (6.7 billion).
Another interesting development is that due to population growth in Britain and the Commonwealth Realms compared to relatively static figures in Japan, Queen Elizabeth II has overtaken Emperor Akihito as the monarch with the most subjects.
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