Global wealth up 27% since fi­nan­cial cri­sis

The Gulf Today - - 6 -

ZURICH: Global wealth has grown by more than a quar­ter in the decade sincetheinan­cial­cri­sis,but­thes­pread is far from even, a study pub­lished on Tues­day showed.

In its An­nual Global Wealth Re­port, the re­search arm of Swiss bank­ing gi­ant Credit Suisse found that global wealth had ex­panded 27 per cent in the past 10 years.

And be­tween mid-2016 and mid-2017, global wealth grew by 6.4 per cent - its fastest pace in ive years - al­low­ing the mean wealth per adult to reach a record high, the study showed.

It pointed to “wide­spread gains in eq­uity mar­kets,” at the same time as non-inan­cial as­sets like real-es­tate for the irst time passed the level they were at when the global inan­cial cri­sis struck in 2007.

“A decade since the start of the global inan­cial cri­sis, we see a sig­ni­icant in­crease in wealth across all re­gions of the world,” Credit Suisse chair­man Urs Rohner said in a state­ment.

Butwhilewealth­grew­world­wide,some ob­vi­ously beneit­ted more than oth­ers.

To­day, less than 10 per cent of the global pop­u­la­tion owns 86 per cent of the global wealth.

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