Home » Switzerland Retains Top Spot In Global Wealth Ranking As World Gets Richer

Switzerland Retains Top Spot In Global Wealth Ranking As World Gets Richer

Switzerland Retains Top Spot In Global Wealth Ranking As World Gets Richer

(MENAFN– Swissinfo)
Last year, the global population became wealthier overall. As a result, global wealth rebounded from the decline seen in 2022. Switzerland retained its top position in the UBS Global Wealth Report.

This content was published on

July 10, 2024 – 15:56

2 minutes

Keystone-SDA

  • Deutsch

    de

    Weltweite Vermögen wachsen – Schweiz verteidigt Spitzenplatz

    Original

    Read more: Weltweite Vermögen wachsen – Schweiz verteidigt Spitzenplat

Switzerland once again took the top spot in the report published on Wednesday by the Swiss bank.

The world got progressively richer in 2023, across all wealth segments, UBS wrote in the annual study. UBS experts anticipate that the rise of individuals into higher wealth brackets will become even more pronounced globally in the long term.

News today from Switzerland: get the most important news from Switzerland in your inbox.

Overall, global wealth grew by 4.2% in US dollar terms in the favourable stock market year of 2023, amidst weakening inflation, following a decline of 3% in 2022. According to the study, the decline at that time was mainly attributed to currency effects and the strength of the dollar.

More

More

Wealthy echelons thrive amid economic volatility

This content was published on

Sep 20, 2022

The world’s richest people saw their wealth expand last year as stock markets and real estate gained in value, according to Swiss bank Credit Suisse.

Read more: Wealthy echelons thrive amid economic volatilit

Regionally, wealth growth was led by Europe, the Middle East and Africa (EMEA) with an increase of 4.8%. Wealth also increased significantly in the Asia-Pacific region (+4.4%), while the Americas fell slightly behind with a growth rate of 3.6%.

Switzerland maintained its top position in the country rankings. The average wealth of an adult in Switzerland (excluding debts) amounted to $709,612 (CHF638,012). The second and third positions were held by Luxembourg ($607,524) and Hong Kong ($582,000), respectively.

According to the report, wealth measured in US dollars in Switzerland last year had recovered as well as it had worldwide. But appearances are deceptive, as the value measured in local currency has shrunk by almost 6%.

Translated from German by DeepL/sp

This news story has been written and carefully fact-checked by an external editorial team. At SWI swissinfo we select the most relevant news for an international audience and use automatic translation tools such as DeepL to translate it into English. Providing you with automatically translated news gives us the time to write more in-depth articles.

If you want to know more about how we work, have a look
here , if you want to learn more about how we use technology, click
here , and if you have feedback on this news story please write to
… .

External Content

Your subscription could not be saved. Please try again.

Almost finished… We need to confirm your email address. To complete the subscription process, please click the link in the email we just sent you.

Daily news

Get the most important news from Switzerland in your inbox.

Daily

Email

The SBC Privacy Policy provides additional information on how your data is processed.

I consent to the use of my data for the SWI swissinfo newsletter.

Popular Stories

More

Foreign affairs

Magnitsky case: How Switzerland failed to investigate Russian millions

Read more: Magnitsky case: How Switzerland failed to investigate Russian millions

More

Swiss Abroad

Switzerland Today

Read more: Switzerland Toda

More

Life & Aging

Swiss discover a love of camping – but at what price?

Read more: Swiss discover a love of camping – but at what price

More

Workplace Switzerland

Mass tourism in Switzerland: beneficial or detrimental?

Read more: Mass tourism in Switzerland: beneficial or detrimental

More

Alpine Environment

Swiss storm fatalities double to four

Read more: Swiss storm fatalities double to fou

Most Discussed

MENAFN10072024000210011054ID1108428577


Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.