2023-08-16 06:19:55
World net private wealth fell by 2.4% in 2022, to 454.4 trillion dollars (415.6 trillion euros)being the first year of decline in these records since 2008, according to the fourteenth edition of the ‘Global Wealth Report’ jointly released by UBS and Credit Suisse.
According to the explanations of the report, this fall is due to the appreciation of the US dollar against many other currencies, while also contributing to the bad data financial assets.
The regions that recorded the greatest losses in wealth were North America and Europe, which together lost some 10.9 trillion dollars (9.9 trillion euros), while Latin America increased its wealth by 2.4 trillion dollars ( 2.19 trillion euros), helped by an average appreciation of the currency of 6% against the US dollar.
Furthermore, the report predicts that world wealth will increase by 38% in the next five years, reaching 629 billion dollars (575 billion euros) in 2027, driven by the growth of middle-income markets.
The economist and author of the report Anthony Shorrocks has highlighted that the decrease in wealth in 2022 was caused by high inflation and the appreciation of the dollar against other currencies.
In terms of wealth per adult, Switzerland tops the list, followed by the United States and Hong Kong.
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