Europe lags behind in wealth generation, with US, China and Canada leading global wealth growth
The large estates are also experiencing the consequences of the crisis, albeit in a somewhat more moderate way. Spain lost 17,000 millionaires last year. However, according to Credit Suisse’s latest Global Wealth Management report, it remains above 1.13 million people with assets over a million dollars.
Moreover, ours is one of the least wealthy European countries to have seen it disappear. In Italy, for example, 135,000 millionaires were wiped off the map, while Germany, where a total of 2.68 million wealthy people still live, lost 58,000. France, for its part, registered 2.795 million people with assets of more than a million dollars, 26,000 less than in 2020.
The company calculates that the average net worth per adult in Spain at the end of last year was USD 222,888 (about EUR 222,888). And the median wealth (which divides the population into two equal parts) came in at $104,160 (about $101,142 at the current exchange rate), down $640 ($639.8) from the previous year.
The Credit Suisse report, a benchmark among asset managers, also has a positive side. Yes, analysts at the bank estimate that Spain’s great fortunes will return to power in the coming years.
Specifically, they calculate that the number of millionaires will increase by 25% between now and 2026, to a total of 1.4 million rich.
The figure represents growth that is higher than that for countries such as Italy (18%). Yse is in the vicinity of the 26% recovery forecast for Germany, albeit below the 41% that is estimated to grow the number of millionaires in France.
If the world figures are taken as a reference, it can be seen how the second year of the pandemic was not as negative as could be expected for this select group. Specifically, the number of wealthy on a global scale increased by 5.168 million people, bringing the group of large patrimony in weight to a total of 62.48 million people, mainly thanks to the impetus coming from the US, China and Canada. Leaving Europe behind in its contribution to the global benchmark.
Source: La Verdad
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
