People’s wealth worldwide has declined for the first time since the 2008 financial crisis. The fall in exchange rates following the outbreak of the Russian war in Ukraine is to blame. It weakened stocks and investment fund profits, leading to a 3.5 per cent drop in global wealth to $255 trillion (CZK 5.5 trillion). According to DPA, this is according to a study published today by the Boston Consulting Group (BCG).
“The Western world in particular experienced a sharp decline in financial assets in 2022,” said BCG analyst Michael Kahlich. But real assets such as real estate, precious metals and jewelry continued to grow last year, adding 5.5 percent, according to the study.
The group of super-rich people with financial assets in excess of $100 million shrank by about 4,000 to just under 62,000 members globally last year because of the downturn in capital markets.
The richest countries in the world
The United States tops the net worth rankings with $144 trillion, followed by China ($76 trillion) and Japan ($24 trillion). BCG estimates that global net worth is likely to increase by five percent annually to nearly $600 trillion by 2027.
Recently published studies confirm the trend from last year, although the numbers are not identical due to differences in methodology. Data from consultancy firm Capgemini also confirms that many wealthy people will feel the fall in stock markets in 2022. The number of people with investable assets of at least one million US dollars has also declined globally, according to the company.
Source: ÄŒTK
