So the Credit Suisse wealth report
is now very very well established and it’s the most comprehensive assessment
of wealth worldwide. We look at the wealth of 4.7 billion adults – pretty much
all the adults in the world – and we look at all components of wealth: financial
wealth, property, we subtract debt and we measure all of this in dollars. So it
gives us a very very good assessment of people’s wealth, their balance sheet, and
then from that we can deduce where they’re going to consume and invest.
So the key development in the latest Credit Suisse Wealth Report is
that world wealth has risen to 317 trillion dollars and let’s say a 14
trillion dollar rise on last year but 6 trillion of that comes from the US
financial markets being very strong. In Europe there is stability in the economy, so
we’ve seen a wealth increase of four trillion across the EU and at about two
point three trillion increase in wealth in China we’ve seen also an increase in
the number of of millionaires and then within the report we look at a number of
underlying trends, very importantly, gender and women and wealth inequality
and also rising wealth in Asia. So in terms of individual countries, lots of
small emerging countries, be it in North Africa in Eastern Europe have seen the
biggest percentage point increases in wealth. That’s got a lot to do with
things like currency volatility recovery from difficult economic
circumstances. In terms of the broad regions, we’ve seen wealth rise across
the board, the US has been to the fore, so one of the key metrics in the world
import is the the wealth pyramid: at the top of the wealth pyramid you have very
wealthy people there’s about 42 million people worldwide who have around about
45% of world wealth. Most of them are in developed countries but an increasing
number in countries like China. Now at the bottom of the wealth pyramid
you’ve got about 63 percent of the world population who have a small proportion
of world wealth, but these are in fast-growing economies
in fast-growing property markets and that’s actually where you get some of
the really interesting consumer trends and also trends in property markets.
So future world wealth: if we look out five years, which i think is a reasonable
time period, we see world wealth rising too close to four hundred trillion
dollars that’s twenty six percent increase, which again is vast and
there’s a number I think of interesting sub trans being behind this. When we
started off looking at wealth and you go back to the year 2000, China had only
3 percent of world wealth, now it’s got 16 percent. Emerging markets as a
whole in the year 2000 had 10 percent of world wealth – today they’ve got 24 percent of
all world household wealth and in five years time they have about 27
percent. So Asia in particular within emerging markets is really on the on the
rise. you
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