Despite a challenging economic environment, total global wealth has hit a new record high, rising by $20.1 trillion between mid-2013 and mid-2014, an increase of 8.3%, to reach $263 trillion – more than twice the $117 trillion recorded in 2000.
This, according to a report by Credit Suisse on global wealth.
Here are the study’s main findings:
Nearly four million adults worldwide saw their net worth exceed $1 million over the past year
More than 40% of the world’s millionaires lives in the US
The US also leads in terms of the ultra-rich, which Credit Suisse defines as those with wealth above $50 million.
Unsurprisingly, wealth is primarily concentrated in advanced economies
Credit Suisse in fact notes that “emerging-market wealth growth has not been able to maintain its momentum from the pre-crisis period between 2000 and 2008”.
In the coming years the rate of wealth growth will likely exceed its long-term average level, and will rise by 40% in the next five years. The wealth share of emerging markets is expected to pick up pace again.
