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Laxman Pai, Opalesque Asia: In 2024, global wealth grew 4.6% after a 4.2% increase in 2023, continuing a consistent upward trend, said a study.
The 2025 edition of the UBS Global Wealth Report revealed that the speed of growth was far from uniform, with a significant tilt towards North America, where the Americas overall accounted for the majority of the increase, at more than 11%.
A stable US dollar and buoyant financial markets were key contributors to this growth. Asia-Pacific (APAC) and Europe, the Middle East, and Africa (EMEA) were lagging, with growth rates of below 3% and less than 0.5% respectively.
The 16th edition of the Global Wealth Report highlighted that adults in North America were the wealthiest on average (USD 593,347) in 2024, followed by Oceania (USD 496,696) and Western Europe (USD 287,688).
However, measured in USD, in real terms over half of the 56 markets in the sample not only didn't take part in the world's growth last year but saw their average wealth per adult decline.
Despite this, Switzerland continued to top the list for average wealth per adult on an individual market level, followed by the United States (US), Hong Kong SAR, and Luxembourg.
According to the report, Denmark, South Korea, Sweden, Ireland, Poland, and Croatia recorded the biggest increases in average wealth, all growing at double-digit rates (when measured in local currencies).
The number of USD millionaires rose 1.2% in 2024, an increase o...................... To view our full article Click here
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