MILAN, Oct. 23 (Class Editori) – Last year, according the Credit Suisse Global Wealth Report 2019, global wealth increased by 2.6%, reaching 360 trillion dollars. While the wealth per adult set a new record of 70,850 dollars, exceeding 1.2% the level recorded in mid-2018. United States, China and Europe are the main responsible for such increase, contributing with 3,800 billion, 1,900 billion and 1,100 billion respectively. The most interesting fact is that China overcame the United States in the number of people part of that 10% who represents the richest on a global level (100 million against 99 million).
In terms of wealth per adult, Switzerland ranks first in absolute terms (+17,790 dollars), followed by the United States, Japan and the Netherlands. Australia leads the ranking of the “losing” countries (-28,670 dollars), mainly due to exchange rates, followed by other countries that recorded significant losses: Norway, Turkey and Belgium. According to the estimates, the number of millionaires in the world has increased by 1.1 million since 2018, reaching 46,8 million by mid-2019.
The United States contributed for more than 50% to this increase, with 675 thousand new millionaires. The decrease in average wealth in Australia resulted in 124,000 fewer millionaires, but elsewhere the losses were relatively modest: for example, the United Kingdom hosts 27,000 fewer millionaires, while the decline in Turkey was of 24 thousand people.
According to the report, in the Ultra High Net Worth group (UHNW) in mid-2019 55,920 adults owned at least 100 million, while 4,830 held a net worth of more than 500 million. The ranking by geographical areas are dominated by North America with 84,050 UHNW (50%), while Europe hosts 33,550 (20%) and 22,660 (14%) reside in Asia-Pacific countries (excluding China and India). Compared to the early years of the century, disparities in the distribution of wealth were reduced in almost all countries: today the poorest 90% share represents 18% of world heritage compared to 11% in 2000. It is premature to say that a phase of declining inequalities has begun, but the prevailing data indicate that 2016 could have represented the peak for the near future.
(Source:Class Editori)
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