Global wealth continues to increase sharply and is concentrating itself more and more strongly among millionaires. Privately held global wealth climbed 7.1 percent worldwide in 2017 adjusted for current effects to $201.9 trillion (171.4 trillion Euro), according to the results of a study by the Boston Consulting Group (BCG) presented in New York. Excluding currency adjustments, the increase even amounted to 12 percent and was thus more than twice as much as the previous year.
Germans’ financial wealth increased 4.3 percent adjusted for currency effects to $7.5 trillion last year, meaning Germany again came in fifth place worldwide for concentrated wealth, according to the BCG’s analysis. The United States ranked first ($80.5 trillion), followed by China ($20.7 trillion), Japan ($16.8 trillion) and the United Kingdom ($9.3 trillion). The United States is also the country with the most millionaires. Here, Germany only ranks seventh place worldwide.
The relatively moderate increase in Germany can be attributed to the country’s conservative investment practices, among other factors, found the study. 36 percent of private assets in this country are held as cash or savings deposits, while only 19 percent are placed in stocks or investment funds, said BCG. People abroad on the other hand take on more risks: Only 27 percent of private assets outside Germany are held as cash or in savings accounts compared to 35 percent invested in stocks or funds.
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