Global wealth surges in 2017 – Credit Suisse
By Will Grahame-Clarke, 15 Nov 17
Total global wealth has now reached $280trn (£213.4trn €238.2trn) and is 27% higher than a decade ago at the onset of the financial crisis according to the latest edition of the Global Wealth Report by the Credit Suisse Research Institute (CSRI).
Converted into percentage terms, the biggest household wealth gain globally was recorded in Poland. The increase of 18% was driven mainly by rising equity prices.
Switzerland continues to lead the ranking in terms of both average and median wealth per adult in 2017, the latter favouring countries with higher levels of wealth equality.
Since the turn of the century, wealth per adult in Switzerland has risen by 130% to $537,600.
China Is Catching Up
While the majority of wealth is still held by high-income economies in North America, Europe, and Asia Pacific (excluding China and India), new wealth creators are becoming more visible.
China, after suffering losses of 20% during the crisis, quickly overtook its pre-crisis level of wealth growth.
This year, its pace of wealth creation caught up with the pace of Europe, and its input to the global wealth stock was $1.7trn. This represents the second highest absolute wealth gain after the US.
Tags: Credit Suisse
