Australia Leads World on Wealth

The typical Australian is richer than the typical person in any other country in the world, according to a new survey. Australia has seized from Switzerland the global title of having the highest “median wealth per adult”, in Credit Suisse’s 2018 Global Wealth Report.

Not only are Australians rich by global standards, our wealth is more evenly distributed across the population, the report finds.

Wealth is defined in the report as the sum of all assets, including residential property, minus all debts – a concept otherwise known as “net worth”.

The results show that the average Australian has a net worth of $US191,453 – about $270,000 Australian. That puts us slightly ahead of the middle Swiss adult’s net worth of $US183,339.
Australia is not short on millionaires either. The property boom in Sydney and Melbourne and system of compulsory super has helped 1,288,000 Aussies become US dollar millionaires. Credit Suisse is tipping Australian millionaires to rise by 41% to 1,814,000 by 2023, to rank 8th in the world.

 

Source: Terry Ryder’s Hotspotting, 27/10/2018

By | 2018-10-29T10:58:47+00:00 October 29th, 2018|News|