In concrete terms, by mid-2019 assets per adult in Switzerland stood at $564,650 (CHF555,000), an increase of $17,790 over the previous year, according to the tenth Credit Suisse Global Wealth Report,External link published on Monday.
This puts Switzerland ahead of the United States, where assets per adult have risen by $11,980 since mid-2018, Japan (plus $9,180) and the Netherlands (plus $9,160). The main loser was Australia (down $28,670).
Since 2000, assets per Swiss adult have risen by 144%, according to Credit Suisse. However, much of that rise has been due to appreciation of the franc against the dollar, especially between 2001 and 2013.
In Swiss francs, household wealth rose 45% from 2000 to 2019, representing an average annual rate of 2%.
Financial assets make up 55% of gross wealth in Switzerland – a little higher than their share in the UK, but less than in Japan or the United States.
Debts – mainly in the form of outstanding mortgage loans – average $142,620 per adult, one of the highest levels in the world, and represent 20% of total assets. The debt ratio has risen slightly from a low of 19% in 2014.
Wealth inequality
The study authors noted that among the ten countries with a long series of wealth distribution data, “Switzerland alone has seen no appreciable reduction in wealth inequality over the past century”.
High average wealth and relatively high wealth inequality had resulted in a large proportion of the Swiss population being in the top levels of the global distribution, they said.
Switzerland accounts for 1.8% of the top 1% of global wealth holders, “which is remarkable for a country with just 0.1% of the world’s adult population”.
About two-thirds of Swiss adults have assets above $100,000, and 12% are dollar millionaires, the study found. An estimated 2,200 individuals are in the ultra-high net worth group, with wealth of over $50 million and 770 have net worth exceeding $100 million.
Wealthiest or not?
In September 2019 German insurer Allianz reported that the Swiss had been knocked off their perch as the world’s wealthiest citizens.
The average Swiss was worth €173,438 (CHF190,087) last year compared to €184,411 for the average American.
The figure measured net wealth per capita, stripping out debt that each person owes on average. The Allianz study said Swiss citizens still enjoyed the highest gross wealth, at €266,318 (CHF293,000), compared to €227,364 in the US.
More
More
Are most Swiss residents rich?
This content was published on
Following reader suggestions, we find out if most people calling Switzerland home can afford diamond rings and fur coats or are just making ends meet.
Swiss climate activists block vehicles near Gotthard tunnel
This content was published on
Around ten climate activists briefly blocked the A2 motorway near the northern entrance of the Gotthard tunnel on Thursday.
Watches belonging to Michael Schumacher up for auction
This content was published on
Schumacher's family is auctioning off eight rare watches from his collection in Geneva. The Christie's auction will take place on Monday.
Joya Marleen and Baschi named best solo acts at Swiss Music Awards
This content was published on
St. Gallen singer Joya Marleen and Baschi from Basel were named artists of the year at the Swiss Music Awards 2024 on Wednesday night.
Swiss authorities announce cost-cutting in asylum sector
This content was published on
The government notably wants to improve integration into the labour force, particularly for people with protection status S.
Various leaders confirm participation at Ukraine peace conference
This content was published on
The presidents of Poland, Finland, and Latvia and the prime ministers of Spain and Belgium will be at the Swiss-hosted talks in mid-June.
This content was published on
In the winter season up to April 2024, railway and cable car operators ferried 3% more visitors compared to the previous winter, and 5% more than the five-year average.
Rhine flooding: Swiss to invest CHF1 billion with Austria
This content was published on
As part of an international agreement with Austria, the Swiss government wants to pump CHF1 billion ($1.1 billion) into flood protection measures along the Rhine over the next three decades.
Swiss government proposes CHF10 million UNRWA donation
This content was published on
After months of debate, Switzerland plans to give CHF10 million ($11 million) to the UN agency this year, rather than the CHF20 million initially foreseen.
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.
Read more
More
Swiss knocked off ‘wealthiest citizens’ perch
This content was published on
The figure measures net wealth per capita, stripping out debt that each person owes on average. Switzerland and the United States have been trading top place in the Allianz wealth rankingsExternal link for the last few years. Because the figures are converted into euros for the report, the relative strengths of national currencies play a…
How wealthy Swiss regions subsidise their poorer cousins
This content was published on
Each year, Switzerland’s unique redistributive system, a cornerstone of federalism, shifts money from richer to poorer parts of the country.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.