Global wealth up 27% since financial crisis
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.