Financial assets in Austria are still very unevenly distributed. According to a new study, around 400 Super Rich have more than a third of the total financial assets in the country – a total of nearly 802.9 billion euros.
The assets of the Austrians fell slightly in 2024 despite the worldwide rally of the stock market. In general, according to the current “Global Wealth Report” of the Boston Consulting Group (BCG), the net assets were $ 2.5 trillion (2.17 trillion euros), three percent less than in the previous year. Although the financial assets were almost stable (-0.3 percent), real assets such as real estate were lost a lot of value (-5.2 percent), the BCG analysis emerges.
“Higher interest rates are taxing the reality of the real estate market”
“The continuous higher interest rates in Austria continue to strain the performance on the real estate market, which traditionally has a very high weight in Germany,” says Michael Kahlich, BCG partner in Zurich and co-author of the study. About two -thirds of the assets are invested in real assets in Germany ($ 1.7 trillion).
Fund very unevenly divided
A central finding of the study is the still very uneven distribution of wealth: around 400 super rich with more than $ 100 million financial assets each (“Ultra High Networting Indival”) have 37 percent of the total financial assets in Austria. On the other hand, there are 7.3 million people, each with less than $ 250,000, which in total only has a third of the financial assets. According to the BCG, this trend will probably aggravate in the coming years: by 2029, the share must increase super -rich to 39 percent, that of the “mass” falls to 30 percent.
$ 50,300 alarm
The number of dollarmillionaries in Austria rose by approximately four percent to 50,300 in the previous year. Rich investors are said to have benefited from the average revival of the financial markets, according to the authors of the study. “Very rich investors have invested a larger proportion of their assets in the capital market and in heightful assets such as private equity,” explains Kahlich. “Less rich trust more on risk -reducing systems with a lower return, such as money, cash or insurance at night.”
Almost 85,000 super -rich worldwide
The financial assets of 2024 worldwide rose by 8.1 percent to $ 305 trillion, while the real assets fell slightly to $ 268 trillion. Financial assets in North America were particularly strong (+14.9 percent), mainly because of the strong development at the American stock exchanges. According to the BCG, there are now around 84,700 super rich – an increase compared to the previous year. Most of them live in the United States (more than 33,000), followed by China (9200) and Germany (3900).
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
