The Global Wealth Report by Credit Suisse Research Institute has revealed that total global wealth soared to $317tn during the 12 months to mid-2018, representing an increase of 4.6%.

The 2018 report added that the rise outpaced population growth, where wealth per adult grew by 3.2%, reaching global mean wealth of $63,100 per adult.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

According to the report, the US had a majority share in global wealth with $98tn. China stood second with a total of $52tn, and is expected to hold nearly 19% of global wealth by 2023.

International wealth management regional chief investment officer for EMEA, Michael O’Sullivan said: “Much of the year-on-year variation in wealth levels can be traced to changes in asset prices and exchange rates and had the heaviest impact in Latin America and parts of Asia Pacific.”

Switzerland the most mean wealth per adult. Additionally, the report says that 40% of the global wealth is currently held by women.

Credit Suisse predicts global wealth to increase by approximately 26% over the coming five years to $399tn by 2023. The proportion of millionaires is also expected to surge to a new all-time high of 55 million.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

While North America and Europe currently amount to 60% of total household wealth, economist and report author Anthony Shorrocks projects that emerging economies will recover and catch up by 2023.

Shorrocks noted: “Since the global financial crisis, wealth inequality has trended upward, propelled in part by the rising share of financial assets, and a strengthening US dollar.

“These underlying factors appear to be waning, so it seems more likely that wealth inequality will fall in future rather than rise.”