Study: Global wealth reached record high in 2021 despite Covid pandemic

Study: Global wealth reached record high in 2021 despite Covid pandemic
June 9, 2022, 12:18 pm

The world's total wealth rose by 10.3% in 2021 to reach $473 trillion. The rise was the biggest in over a decade - Pic. Pixabay

A study published by the Boston Consulting Group (BCG) on Thursday (June 9) that the world's total wealth rose by 10.3% in 2021 to reach $473 trillion, mainly thanks to the stock market boom.

The Anews reported, citing DPA, the rise was the biggest increase in over a decade, with the number of super-rich, defined by BCG as those with assets worth over $100 million, rose by some 300 people.

It said that the United States boasted the most members of the club, with 25,800, followed by China with 8,500 members. Germany was in third place. Worldwide, some 69,000 super-rich individuals held 15% of investable financial assets.

United States-Time Square in New York city/Pixabay

Tangible assets, including real estate, art and gold, rose in value by 11% to $13 trillion in 2021. Real estate in particular has been growing strongly in value for some time.

Despite the economic consequences of the Ukraine war, the BCG report predicted wealth would continue to grow worldwide, with strong increases expected above all in Asia.

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The study noted that if the Russian attack on Ukraine ends this year, global wealth is expected to grow by 5.3% annually to reach almost $80 trillion by 2026. The study calculated an average increase of 5% if the war continues and sanctions are tightened or last longer.

Source: anews

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