Global household wealth in 2023 increased by 4.2% in dollar terms. This is stated in the annual Global Wealth Report of the Swiss bank UBS.
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How the indicator changed
In 2022, the indicator decreased by 3%, decreasing for the first time since the financial crisis of 2008 year, largely due to the strengthening of the dollar against most major world currencies.
In 2023, wealth in the Asia-Pacific region increased by 4.4%, in North and South America – by 3.6%, in EMEA region (Europe, Middle East, Africa) – by 4.8%.
Residents of the EMEA region were on average the richest ($166 thousand per adult), followed by the population of the Asia-Pacific region ($156 thousand ) and residents of the American continents ($146 thousand).
The most significant increase in well-being per capita of the adult population in 2023 was noted in Turkey – by 157%, Qatar and Russia – by approximately 20%, as well as South Africa – by 16%.
Switzerland remains the country with the richest residents ($709.6 thousand), second place is still occupied by Luxembourg ($607.5 thousand). Hong Kong ($582 thousand) moved to third position from fourth, pushing the United States ($564.9 thousand) to fourth place.
The USA, mainland China and the UK are home to the largest number of dollar millionaires. At the same time, the United States accounts for 38% of the global number of millionaires.
The UK, according to UBS forecasts, will lose the largest number of rich people in the next five years among all countries in the world. Their number will decrease by 17% – from 3.06 million last year to 2.54 million in 2028.
- Economy