The Global wealth report 2020 credit-suisse.com
Research. Institute. Thought leadership from Credit Suisse and the world's foremost experts. October 2020. Global wealth report 2020
Credit Suisse
Wealth creation in 2020 was largely immune to the challenges facing the world due to the actions taken by governments and central banks to mitigate the economic
Credit Suisse
The core reason for the apparent disconnect between the ongoing global recession in 2020 and household wealth is the pre-emptive action taken by governments and
ALLIANZ GLOBAL WEALTH REPORT 2021
7 Oct 2021 The discrepancy between wealth and economic growth has rarely been as pronounced as in 2020: Global financial assets grew by a staggering ...
Allianz Global Wealth Report 2020
ALLIANZ GLOBAL WEALTH. REPORT 2020. 23 September 2020. 04 Development of financial assets: Wealth immunity. 18 Developments in global liabilities:.
Credit Suisse
Research Institute's Global wealth report has 2020. 0.6. 262
the-wealth-report-2020.pdf
THE WEALTH REPORT – 2020. KNIGHTFRANK.COM/WEALTHREPORT. 4. 5. As Knight Frank's Global. Head of Research Liam keeps an eye on all things property
The Global wealth report 2021
The widespread negative impact on gross domestic product (GDP) was recognized early in 2020 and since reductions in the level of economic activity are
The Global Wealth Report 2019 — Credit Suisse
1 Oct 2019 Now in its tenth edition the Credit Suisse Global wealth report is the ... 2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 2020 2022 2024.
Global Wealth 2020: The Future of Wealth Management—A CEO
Currency effects and inflation were not taken into account. Exhibit 1 - 20-Year Wealth Development by Region. Source: Global Wealth Report 2020—BCG Global
[PDF] Global wealth report 2020 Credit Suisse
The Credit Suisse Global Wealth Report provides the most comprehen- sive and up-to-date coverage of information on household wealth worldwide Last year total
Global Wealth Report - Credit Suisse
The most comprehensive and up-to-date resource of its kind Our Global wealth report analyzes the household wealth of 5 2 billion people across the globe
[PDF] The Wealth Report 2020 - Knight Frank
THE WEALTH REPORT – 2020 KNIGHTFRANK COM/WEALTHREPORT 4 5 As Knight Frank's Global Head of Research Liam keeps an eye on all things property
[PDF] World-Wealth-Report-WWR-2020pdf - Capgemini
World Wealth Report 2020 In Q1 2020 the impact of COVID-19 wiped out over USD18 trillion from markets globally over the course of
[PDF] Allianz Global Wealth Report 2020 - dpaqde
ALLIANZ GLOBAL WEALTH REPORT 2020 23 September 2020 04 Development of financial assets: Wealth immunity 18 Developments in global liabilities:
[PDF] The Global wealth report 2021 - dpaqde
Now in its twelfth edition the Credit Suisse Global Wealth Report is the most comprehensive and up-to-date source of information on global household wealth
[PDF] Standing Still Is Not an Option - Boston Consulting Group
Consulting Group take up in our 22nd annual Global Wealth Report Our chapter on market sizing proves that the industry—as diverse as it is globally—is
[PDF] Allianz Global Wealth Report 2022
12 oct 2022 · Allianz Global Wealth Report 2022 +7 6 vastly outpaced the long-term average of +4 6 and 2020's growth 11-07-2022-AllianzPulse pdf
[PDF] Julius Baer Global Wealth and Lifestyle Report 2022
Our third Global Wealth and Lifestyle Report focuses on the yearly changes in the cost of living well which in the last year has risen significantly Asia
Richest 1% bag nearly twice as much wealth as the rest of the world
16 jan 2023 · The richest 1 percent grabbed nearly two-thirds of all new wealth worth $42 trillion created since 2020 almost twice as much money as the
[PDF] Global wealth report 2020 Credit Suisse
The Credit Suisse Global Wealth Report provides the most comprehen- sive and up-to-date coverage of information on household wealth worldwide Last year total
[PDF] The Wealth Report 2020 - Knight Frank
This presents many opportunities for readers of The Wealth Report whether it's the investment potential of the global demographic trend towards longer
[PDF] World-Wealth-Report-WWR-2020pdf - Capgemini
World Wealth Report 2020 In Q1 2020 the impact of COVID-19 wiped out over USD18 trillion from markets globally over the course of
[PDF] Allianz Global Wealth Report 2020 - dpaqde
ALLIANZ GLOBAL WEALTH REPORT 2020 23 September 2020 04 Development of financial assets: Wealth immunity 18 Developments in global liabilities:
[PDF] The Global wealth report 2021 - dpaqde
The widespread negative impact on gross domestic product (GDP) was recognized early in 2020 and since reductions in the level of economic activity are
[PDF] Standing Still Is Not an Option - Boston Consulting Group
Exhibit 1 – Absolute Financial Wealth and Real Assets Growth 2020–2021 Source: BCG Global Wealth Market Sizing - Global Wealth Report 2022
[PDF] Allianz Global Wealth Report 2022
12 oct 2022 · due to the sharp increase in nominal output the global debt ratio (liabilities as a percentage of GDP) even fell to 69 (2020: 70 )
[PDF] Julius Baer Global Wealth and Lifestyle Report 2022
Our third Global Wealth and Lifestyle Report focuses on the yearly changes in the cost of living well which in the last year has risen significantly Asia
What is the wealth of the world 2020?
Table 1 shows that aggregate global wealth increased by USD 36.3 trillion to USD 399.2 trillion, a rise of 10.0%.What is the top 1% income in the world?
According to Credit Suisse, individuals with more than $1 million in wealth sit in the top 1 percent bracket. The billionaire class is $2.6 trillion richer than before the pandemic, even if billionaire fortunes slightly fell in 2022 after their record-smashing peak in 2021.16 jan. 2023Which country is richest in Global wealth Report?
Total wealth by country
United States (31.5%)China (18.4%)Japan (5.5%)Germany (3.8%)India (3.7%)United Kingdom (3.5%)France (3.1%)Canada (2.7%)- This study estimates that as of November 2021, the global 'balance sheet,' which comprises of the real assets in the economy as well as financial assets, had $510 trillion in financial assets held by corporations, $510 trillion in assets held by households, governments, and others, and $520 trillion in assets for the
Research Institute
Thought leadership from Credit Suisse and the world"s foremost expertsJune 2021
Global wealth report 2021
2Introduction
Now in its twelfth year, I am proud to present to
you the 2021 edition of the Credit Suisse GlobalWealth Report.
This report delivers a comprehensive analysis on
available global household wealth, underpinned by unique insights from leading academics in theThis year"s edition digs deeper into the impact
distribution. Mindful of the important wealth differences that have built over the last year, our report also offers perspectives and, indeed, encouraging prospects, for wealth accumulation to a world beyond the pandemic.Global Wealth Report to be of particular value in
what remain unprecedented times.António Horta-Osório
Global wealth report 20213
02Editorial
05Global wealth levels 2020
17Global wealth distribution 2020
27Wealth outlook for 2020-25
35Country experiences
36 Canada and the United States
38 China and India
40 France and the United Kingdom
46 Japan, Korea, Singapore and
Taiwan (Chinese Taipei)
54 Greece, Italy and Spain
56About the authors
57General disclaimer / important information
For more information, contact:
Richard Kersley
Credit Suisse International
and Global Head of Economics & ResearchCredit Suisse Research Institute
credit-suisse.com/researchinstitute 4Global wealth report 20215
Global wealth levels 2020
Uncertain times
pandemic for household wealth are now much clearer than they were last summer. They in the level of economic activity are typically associated with reductions in household wealth, and share prices dived in February and March.No region was immune. By the second half of
March, the S&P 500 had fallen by 34%, the
lost from total global household wealth betweenJanuary and March 2020, equivalent to a fall of
Reassured by the prompt action of governments
largely reversed by the end of June. That much Anthony Shorrocks, James Davies and Rodrigo Lluberaswas understandable. But what happened in the
second half of 2020 was unforeseen. Share prices continued on an upward path, reaching also infected by the prevailing optimism, and house prices rose at rates not seen for many years. These asset price increases have led to major gains in household wealth throughout the was added to global household wealth during theNevertheless, bearing in mind the widespread
economic disruption, household wealth and macroeconomic indicators seem to be on different trajectories. Stranger still, countries often been those recording the greatest gains in wealth per adult. The contrast between what has happened to household wealth and what is happening in the wider economy can never have Now in its twelfth edition, the Credit Suisse Global Wealth Report is the most comprehensive and up-to-date source of information on global household wealth. Wealth creation in 2020 was largely immune to the challenges facing the world due to the actions taken by governments and central banks to mitigate the economic impact of COVID?19. Total global wealth grew by 7.4% and wealth per adult rose by 6% to reach another record high of USD 79,952. Overall, the countries most affected by the pandemic have not fared worse in terms of wealth creation. 6We believe the core reasons for this disconnect
are clear. Many governments and central massive income transfer programs to support the individuals and businesses most adversely affected by the pandemic, and second, by lowering interest rates - often to levels close to stay low for some time.The lowering of
interest rates by central banks has probably had the greatest impactThere is little doubt that these interventions
have been highly successful in meeting their immediate objectives. However, they have come at a great cost. Public debt relative to percentage points or more in many countries.In essence, there has been a huge transfer
from the public sector to the household sector, which is one of the reasons why household wealth has been so resilient. In one respect, these transfers overcompensated households.Generous payments have meant that disposable
household income has been relatively stable and has even risen in some countries. In combination with restricted consumption opportunities, this has led to a surge in to be lower than they would be otherwise. This increase in savings was an important source of household wealth growth last year. has probably had the greatest impact. It is a major reason why share prices and house directly into our valuations of household wealth.IUHHRSWLRQH[FHSWSHUKDSVWRWKRVHUHO\LQJRQ
interest payments to supplement their income.Lower interest rates have no direct impact on
implications in the longer run and also questions related to future rises in interest rates. However, these are relatively unimportant compared to the more immediate economic challenges.Trends in wealth per adult
Figure 1
places the performance of household growth since the turn of the century. SmoothedThe overall pattern suggests steady growth in
household wealth over the years, with minor prices and house prices. But there are two unusual episodes. The most obvious is the decline in wealth during 2008 due to the crisis. The second aberration is unusually high wealth growth in the golden age" preceding the rate achieved in the long term. This episode was triggered by a combination of favorable factors - most notably the rapid transformation of China Figure 1: Annual change in net worth and its components using smooth exchange rates (%), 2000-2002468101214
01020304050608101112131415161820
Financial wealth
'HEW Net worthGlobal wealth report 2021
Compared to the overall trend since 2000,
wealth growth in 2020 is slightly below average.But is not dissimilar to the growth achieved in
nothing in the chart to suggest that the economic upheaval in 2020 bore any resemblance to that to have simply continued on its way, paying little or no attention to the economic turmoil that should have hampered progress.The contrast between
what has happened to household wealth and what is happening in the wider economy can never have been more starkTotal wealthChange in total wealthWealth per adultChange in wealth per adultChange in financial assetsChange in non- financial assetsChange in debts
USD bnUSD bn%USD%USD bn%USD bn%USD bn%
36-2.1-24-1.026-34-8.5
5.06.4
China4,2466.05.410.24.31,05515.3
Europe
103,2136,64814.06.61,43810.3
India1RUWK$PHULFD
136,31610.010.03,145812
World Table 1: Change in household wealth 2020, by regionAn overview of 2020
Table 1
trillion at the end of the year. In terms of current per adult was up 6.0%. However, widespread depreciation of the US dollar accounted for 3.3 wealth would have grown by 4.1% and wealth comparison, global average wealth in the year times its value at the start of the century. appreciation accounted for what little change would not have come as a surprise. 8However, currency depreciation was commonplace
better outcome than India.Exchange rate
fluctuations are often the source of the biggest gains and losses of the gain in total wealth as they have doneEurope and China, but the contributions were
increased much more if households had not been obliged to save more by the constraintsAsset prices and exchange rates
Turning attention to individual countries,
usually account for much of the change in biggest gains and losses, and it is already countries covered inFigure 2
and Japan also appreciated by more than 5%.The only substantial depreciation occurred in
Russia (down 16.2%). Elsewhere, currency
Figure 2: Percentage change in USD exchange rate,
share prices and house prices, 2020 'HQPDUNDQG6ZHGHQH[FHHGHGWKDWRIWKH (XUR]RQHZKLOHGRXEOHGLJLWGHSUHFLDWLRQZDVUHFRUGHGLQ&KLOH7XUNH\1LJHULDDQGPRVW
QRWDEO\%UD]LOGRZQ
Share prices declined everywhere in the
first few months of 2020, so that the net outcome for the year depends on the speed and magnitude of the recovery, which varied covered inFigure 2
, shares rose by around20% in China and the United States. India
was not far behind with a rise of 16%, andCanada, Germany and Japan had also moved
into positive territory by the end of the year.France was slightly down for the year and
Italy by a little more. But Britain was the main
casualty in this group of nations, with share clearly not an attractive combination for also recoded in Israel, Spain, Singapore,Colombia. In contrast, share prices forged
ahead in Taiwan (Chinese Taipei) by 23%, inHouse prices are less volatile than share prices,
uncommon. For much of the year, housing from both buyers and sellers. Windfalls from0510152025Canada
ChinaFrance
Germany
India Italy JapanRussia
United Kingdom
United States
Share pricesHouse prices
Global wealth report 2021
Figure 3: Change in wealth per adult (USD), 2020:
Biggest gains and losses
to surface during the second half of 2020, encouraged also by the low interest rates on year for home owners in most countries. House prices moved ahead in the United States by10.8%, one of the fastest rates on record.
They rose even more in Russia (up 22%) and
be set against the high currency depreciation in both countries. Elsewhere, house prices roseGermany, Poland and Sweden, all of which
recorded increases between 8% and 11%.Figure 3
shows that house prices also rose inChina, Japan, Italy and the United Kingdom,
but never by more than 5%. They were broadly representative of the other countries for which we have house price data.Leaders and laggards among countries
Given the prevailing economic conditions,
increases in household wealth. However, the appreciation has resulted in many substantial gains. In terms of total wealth, we have come trillion). It is even higher than the combinedWULOOLRQ-DSDQ86'WULOOLRQDQGWKH8QLWHG
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Household wealth
has been extremely resilient to the adverse economic conditionsThe change in wealth per adult is a better guide
to the comparative performances of different countries.Figure 3
lists the countries where wealth per adult - measured in current US list. Belgium and Sweden also gained more than these countries, most notably the United States. for most of these increases in average wealth. countries suffered a loss of wealth in 2020, and the losses that did occur were quite modest.Currency depreciation caused wealth per adult to
the greatest losses.Wealth growth versus GDP growth
The evidence so far has documented the fact
resilient to the adverse economic conditions. to be more subdued in countries with worse macroeconomic outcomes. This does not appear to be the case, however. Indeed, there is a hint that the countries facing the biggest economic wealth gains.Sweden
Belgium
Netherlands
Germany
Canada
Russia
Chile020,00040,00060,00080,000
10Figure 4
plots the32 countries for which we have more reliable
values computed using domestic currency part in the results. Countries facing the biggest economic challenges have achieved higher-than-average wealth gainsIn a normal year, household wealth growth
since household wealth tends to grow a not surprising that household wealth has not growth (in domestic currency units). For the countries on or close to this line - Spain, Italy,quotesdbs_dbs17.pdfusesText_23[PDF] global wealth report wikipedia
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