Global wealth increases by 8.3% driven by wealth growth in the U.S. and Europe
The Credit Suisse Research Institute today released its fifth annual Global Wealth Report, which finds that from mid-2013 to mid-2014 aggregate global household wealth increased by 8.3% in current dollar terms to USD 263 trillion, despite an ongoing challenging economic environment.
Key findings of the 2014 Global Wealth Report include:
- Global wealth stands 20% above its pre-crisis peak and 39% above its 2008 low.
- Wealth is likely to rise by nearly 40% in the next five years, reaching USD 369 trillion by 2019, according to our estimates.
- Emerging markets are to increase their share of global wealth to 21% by 2019, with China alone expected to represent nearly 10% of global wealth against just over 8% today.
- Wealth inequality has increased since 2008, especially in emerging economies like China and India.
- The USA has achieved a sizable increase in wealth since mid-2013, with a rise of USD 8.9 trillion. It will remain the undisputed leader in terms of aggregate wealth, with total net worth of more than USD 114 trillion by 2019.
- In Europe, wealth per adult has increased by more than 10% as a result of a strong recovery in asset prices.
- Switzerland ranks highest in average wealth, and has reached a new high of USD 581,000 per adult. Median wealth per adult in Australia, however, stands at USD 225,000, far outstripping Swiss median wealth of USD 107,000.
- The number of millionaires worldwide is to increase by about 53% in the next five years, reaching 53.2 million in 2019.