While India is the world’s sixth wealthiest country with a private wealth of $8,230 billion, arch-rival Pakistan leads the worst performing wealth markets’ table for 2016-17, said a report. India topped the “Best Performing Wealth Markets” with a growth of 25 percent to $8.23 trillion and the global wealth rose by 12 percent in 2017 up from $192 trillion at 2016 end to $215 trillion at the 2017 end, according to AfrAsia Bank Global Wealth Migration Review 2018. Pakistan showed a decline of 10 percent annually in 2017 along with Nigeria becoming two of the worst performers in 2016-17. Safety concerns and stock market declines have deterred investment in Pakistan which resulted in it becoming the worst performer in 2016-17.
The report also forecasts that India will record the fastest growth of 200 percent over 10 years to become world’s fourth wealthiest country with private wealth of $24.69 trillion, overtaking the UK and Germany.
The US is the wealthiest country in the world with a total wealth of $62,584 billion, followed by China ($24,803 billion) at the second place and Japan ($19,522 billion) at the third place. The others in the top 10 list include the UK ($9,919 billion), Germany ($9,660 billion), India ($8,230 billion), Australia ($6,142 billion), Canada ($6,393 billion), France ($6,649 billion) and Italy ($ 4,276 billion).
According to the report, the total wealth is referred to the private wealth that is held by all the individuals living in each nation. The total wealth definition includes all their assets including property, cash, equities, business interests less any liabilities. The report doesn’t include government funds from the calculated figures. The larger countries with higher populations hold an advantage in the report.