The Swiss remain firmly at the top of the world’s rich list and the USA is only in fifth place, but it is back on the up, the wealthiest region again, nudging ahead of the Asia-Pacific and European regions for the first time since 2005. North American wealth was boosted by rising real estate values and a boom in share prices.
Globally the Credit Suisse report says the world is also richer than ever, up 4.9 percent to 241 trillion dollars, (178 trillion euros). That global rise is set to continue for the next five years, hitting $334 trillion, (247 trillion euros), in 2018, a rise of 39%.
Most of that growth, nearly three quarters of it, will be in the Asia-Pacific region says the report.
However seven of the world’s richest per capita nations are in Europe, with Sweden sixth, France in seventh place, Belgium ninth, and Denmark tenth.
China will overtake Japan in 2016 to become the world’s second wealthiest economy, and will see an 88% rise in the number of domestic millionaires, too. In general there will be more millionaires, everywhere.
Using some systems of measurement Australia comes out top above Switzerland, but wealth growth there has all but halted with the lowest rise in the top 10 over the last 12 months.
It should also be noted that America’s extraordinary period of “quantitative easing”, or printing money, has greatly increased wealth there. Once the Fed stops this policy the effect on the numbers will be immediate.