Swiss come top in wealth survey

Switzerland comes top of the list when it comes to the highest average wealth per adult, according to a study from the Credit Suisse Research Institute.

In its inaugural Global Wealth Report, the institute says that the average wealth per adult in Switzerland in 2010 was $372,692 (SFr360,338) an increase of 60 per cent since the year 2000.

Switzerland is followed in this ranking by Norway, Australia, Singapore, France, Sweden, the United States, Luxembourg, Britain and Italy.

At the other end of the scale, Denmark ranks first in terms of average debt per adult ($113,978) and Switzerland second ($100,651).

The report says that global wealth is expected to increase by 61per cent by 2015 driven by “robust economic expansion” in the emerging markets. It finds that the wealth currently held by 4.4 billion adults has increased 72 per cent since 2000 to reach $195 trillion.

At the top of the wealth pyramid, there are over 1,000 billionaires globally, of which 245 are in Asia Pacific, 230 are in Europe and 500 are in North America. Moving down the wealth pyramid, there are 80,000 ultra-high-net-worth individuals (average wealth per adult above $50 million).

“The report confirms that Asia Pacific countries, which now make up the bulk of the world’s middle class of emerging consumers, are driving the growth of the world’s wealth,” commented Osama Abbasi, chief executive of Asia Pacific, Credit Suisse.

“China is the third-largest wealth market in the world. Economic expansion in other key markets in Asia Pacific means that today growth in average household wealth per adult is up to ten times the global growth rate.”