By 2027, global wealth will reach $629 trillion, a 38% increase, according to the 2023 Global Wealth Report released by Credit Suisse and UBS. That's in spite of the fact that 2022 was the first year to show a decrease since 2008, with a drop of 2.8% or $11.3 trillion.

Regional Wealth

According to the report, global wealth loss was heavily concentrated in wealthier regions such 🌳as Northﷺ America and Europe, which together lost $10.9 trillion. The United States leads the list of market losses in 2022, followed by Japan, China, Canada, and Australia.

Switzerland continues to top the list of wealth per adult, followed by the U.S., Hong Kong, Australia, and Denmark, despite considerable reductions in mean wealth since 2021. The top five markets in terms of median wealth are Belgium, Australia, Hong Kong, New Zealand, and Denmark.

Real Estate Remains Resilient

Additionally, wealth per adult declined by $3,198 (or 3.6%) to $84,718, meaning individuals this year have less than they did last year at this time. The U.S. dollar's appreciation against many other currencies contributes to much of this decline. However, global median wealth rose by 3% in 🌜2022 in contrast to the 3.6% decline in wealth per adult. Despite rapidly rising interest rates, non-financial assets such as real estate remain🐻ed resilient in 2022.

By 2027, middle-income markets will drive global trends, wealth per adult is expected to reach $110,270, millionaires are expected to number 86 million, and 澳洲幸运5官方开奖结果体彩网:ultra-high-net-worth individuals (UHNWIs) will number 372,000, according to the report.

Wealth By Demographic

While 澳洲幸运5官方开奖结果体彩网:Generation X and Millennials did relatively well in the U.S. and Canada in 2022, they were not immune to the overall wealඣth loss.

African-Americans were largely unaffected by the downturn in 2022, while non-Hispanic Caucasians saw their wealth decrease. On the other hand, Hispanics achieved 9.5% growth in 2022 due to their greater holdings of housing assets.

Wealth inequality also decreased in 2022, with the share of wealth owned by the top 1% of the global population falling to 44.5%. There were 59.4 million USD millionaires worldwide in 2022, down 3.5 million from 2021. The figure does not include the 4.4 million "inflation millionaires" who would no longer qualify if the millionaire threshold were adjusted for inflation in 2022.