Global household wealth surges to $280 tn, in just a glance all you need to know

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December 02, 2017 3:21 AM

At a time when global household wealth grew by $16.7 trillion to $280 trillion in 2016-17, up 6.4%, household wealth in India grew by $451 billion to nearly $5 trillion, a growth of nearly 10%.

Global household, global surge, household wealth surge,  Credit Suisse’s Global Wealth ReportEurope and China recorded the second and third highest absolute increase among regions, according to Credit Suisse’s Global Wealth Report.

At a time when global household wealth grew by $16.7 trillion to $280 trillion in 2016-17, up 6.4%, household wealth in India grew by $451 billion to nearly $5 trillion, a growth of nearly 10%. Europe and China recorded the second and third highest absolute increase among regions, according to Credit Suisse’s Global Wealth Report.
While wealth has been rising in India, not everyone has a share in this growth. There is still considerable wealth poverty, as 92% of the adult population has wealth below $10,000.

Financial assets continue to make a substantial contribution to growth of wealth, accounting for half of the increase in wealth. Non-financial assets, too, have grown at a similar pace over the past few years. Non-financial assets are now the main driver of wealth growth in most regions. Personal wealth in India is dominated by property and real assets, which make up 86% of household assets.
 

Globally, wealth growth outpaced population growth, so that global wealth per adult grew by 4.9%, raising global mean wealth to $56,540 per adult, a new record high. However, inequality has continued to grow upwards. As a result, despite higher mean wealth per adult, median wealth fell this year.

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