Finweek English Edition - - THE WEEK -

The Europe Wealth Re­port 2016 re­veals that over the past 10 years, the av­er­age wealth of a Euro­pean ci­ti­zen has de­clined by 5% to $86 000. Com­pared to other de­vel­oped mar­kets, the av­er­age wealth of a per­son in Aus­tralia in­creased by over 100%, while it in­creased by over 50% for some­one liv­ing in Canada. In emerg­ing mar­kets such as China, In­dia and Viet­nam, av­er­age wealth in­creased by over 400% dur­ing this pe­riod. Ac­cord­ing to the New World Wealth re­port, is­sues con­tribut­ing to the de­cline in wealth cre­ation in Europe in­clude the mi­gra­tion of wealthy peo­ple out of Europe, the global fi­nan­cial cri­sis in 2008, ris­ing in­come tax rates, loss of jobs to Asia and large pen­sion obli­ga­tions in some coun­tries.

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