Global Wealth Report 2018. Shorrocks, A., Davies, J. B., & Lluberas, R. October, 2018. Credit Suisse Research Institute![Global Wealth Report 2018 [link]](https://bibbase.org/img/filetypes/link.svg "link")
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File abstract bibtex The Credit Suisse Global Wealth Report is the most extensive and current source of information on global household wealth. Now in its ninth edition, the report not only provides insights into the wealth development of regions and segments, but for the first time it also focuses on the most recent evidence on female wealth holdings, in particular on gender differences with males. During the 12 months since our last report to mid-2018, aggregate global wealth rose by USD 14 trillion to USD 317 trillion, which represents a growth rate of approximately 4.6%. This growth rate was lower than last year, but higher than the average growth rate in the post-2008 era. This was sufficient to outpace population growth, so that wealth per adult grew by approximately 3.2%, a record high. Looking at the number of millionaires, we see that there are 42.2 million millionaires worldwide, which is up 2.3 million over the previous 12 months. Our research indicates that the United States added 878,000 new millionaires – representing around 40% of the global increase – to its already sizable stock, whereas the number of newcomers in France, Germany, the United Kingdom and Italy was around 200,000 each. In China, the number of millionaires rose by a modest 186,000 and in Japan 94,000. The main explanation for these increases in millionaire numbers within countries lies in the real wealth growth, rather than in exchange-rate movements. Millionaire numbers fell in very few countries (such as Turkey and Brazil), and by relatively small amounts, the main driver being currency depreciation. The key finding of this year's new wealth valuation is for many observers not surprising – China is now clearly established second place in the world wealth hierarchy. The country overtook Japan with respect to the number of ultra-high net worth (UHNW) individuals in 2009, total wealth in 2011 and the number of millionaires in 2014. Nevertheless, the data shows that mean wealth per adult in China (USD 47,810 in mid-2018) remains far below the level in Japan (USD 227,240). Turning our interest to the lower level of the wealth distribution, we see that 3.2 billion adults or about 64% of the adult population lives with a wealth below USD 10,000, which corresponds to only 1.9% of the global wealth. Those with low wealth are disproportionately found among the younger age groups, those who live in regions where prospects for wealth creation are very limited (most notably Africa) and where opportunities are sometimes constrained. The wealth of women has been receiving increasing attention and we estimate that women account for about 40% of global wealth overall. During the 20th century, their share of wealth rose considerably and, since the year 2000, the level of women's wealth has risen along with all household wealth, especially in Asia alongside the rise of China's wealth. The tendency shows that more self-made women are succeeding in business and are entering the highest wealth ranks. Despite this trend, even in those countries where progress is the strongest, some categories of women – such as single mothers and divorcees – remain disadvantaged. While more is required to be done to ensure that women have an equal opportunity to build up, inherit and share in wealth, there are signs that progress has been happening in many parts of the world. Given some of this year's intriguing findings, we hope you find the 2018 edition of the Global Wealth Report a valuable source of insight and wish you interesting reading.
@misc{Shorrocksetal2018a,
title = {Global Wealth Report 2018},
author = {Shorrocks, Anthony and Davies, James B. and Lluberas, Rodrigo},
year = {2018},
month = oct,
url = {https://www.credit-suisse.com/about-us/en/reports-research/global-wealth-report.html},
urldate = {2022-02-17},
abstract = {The Credit Suisse Global Wealth Report is the most extensive and current source of information on global household wealth. Now in its ninth edition, the report not only provides insights into the wealth development of regions and segments, but for the first time it also focuses on the most recent evidence on female wealth holdings, in particular on gender differences with males. During the 12 months since our last report to mid-2018, aggregate global wealth rose by USD 14 trillion to USD 317 trillion, which represents a growth rate of approximately 4.6\%. This growth rate was lower than last year, but higher than the average growth rate in the post-2008 era. This was sufficient to outpace population growth, so that wealth per adult grew by approximately 3.2\%, a record high. Looking at the number of millionaires, we see that there are 42.2 million millionaires worldwide, which is up 2.3 million over the previous 12 months. Our research indicates that the United States added 878,000 new millionaires \textendash{} representing around 40\% of the global increase \textendash{} to its already sizable stock, whereas the number of newcomers in France, Germany, the United Kingdom and Italy was around 200,000 each. In China, the number of millionaires rose by a modest 186,000 and in Japan 94,000. The main explanation for these increases in millionaire numbers within countries lies in the real wealth growth, rather than in exchange-rate movements. Millionaire numbers fell in very few countries (such as Turkey and Brazil), and by relatively small amounts, the main driver being currency depreciation. The key finding of this year's new wealth valuation is for many observers not surprising \textendash{} China is now clearly established second place in the world wealth hierarchy. The country overtook Japan with respect to the number of ultra-high net worth (UHNW) individuals in 2009, total wealth in 2011 and the number of millionaires in 2014. Nevertheless, the data shows that mean wealth per adult in China (USD 47,810 in mid-2018) remains far below the level in Japan (USD 227,240). Turning our interest to the lower level of the wealth distribution, we see that 3.2 billion adults or about 64\% of the adult population lives with a wealth below USD 10,000, which corresponds to only 1.9\% of the global wealth. Those with low wealth are disproportionately found among the younger age groups, those who live in regions where prospects for wealth creation are very limited (most notably Africa) and where opportunities are sometimes constrained. The wealth of women has been receiving increasing attention and we estimate that women account for about 40\% of global wealth overall. During the 20th century, their share of wealth rose considerably and, since the year 2000, the level of women's wealth has risen along with all household wealth, especially in Asia alongside the rise of China's wealth. The tendency shows that more self-made women are succeeding in business and are entering the highest wealth ranks. Despite this trend, even in those countries where progress is the strongest, some categories of women \textendash{} such as single mothers and divorcees \textendash{} remain disadvantaged. While more is required to be done to ensure that women have an equal opportunity to build up, inherit and share in wealth, there are signs that progress has been happening in many parts of the world. Given some of this year's intriguing findings, we hope you find the 2018 edition of the Global Wealth Report a valuable source of insight and wish you interesting reading.},
keywords = {Data Sources: Wealth Inequality Trends},
url_file = {Shorrocksetal2018a.pdf},
note = {Credit Suisse Research Institute}
}
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Now in its ninth edition, the report not only provides insights into the wealth development of regions and segments, but for the first time it also focuses on the most recent evidence on female wealth holdings, in particular on gender differences with males. During the 12 months since our last report to mid-2018, aggregate global wealth rose by USD 14 trillion to USD 317 trillion, which represents a growth rate of approximately 4.6%. This growth rate was lower than last year, but higher than the average growth rate in the post-2008 era. This was sufficient to outpace population growth, so that wealth per adult grew by approximately 3.2%, a record high. Looking at the number of millionaires, we see that there are 42.2 million millionaires worldwide, which is up 2.3 million over the previous 12 months. Our research indicates that the United States added 878,000 new millionaires – representing around 40% of the global increase – to its already sizable stock, whereas the number of newcomers in France, Germany, the United Kingdom and Italy was around 200,000 each. In China, the number of millionaires rose by a modest 186,000 and in Japan 94,000. The main explanation for these increases in millionaire numbers within countries lies in the real wealth growth, rather than in exchange-rate movements. Millionaire numbers fell in very few countries (such as Turkey and Brazil), and by relatively small amounts, the main driver being currency depreciation. The key finding of this year's new wealth valuation is for many observers not surprising – China is now clearly established second place in the world wealth hierarchy. The country overtook Japan with respect to the number of ultra-high net worth (UHNW) individuals in 2009, total wealth in 2011 and the number of millionaires in 2014. Nevertheless, the data shows that mean wealth per adult in China (USD 47,810 in mid-2018) remains far below the level in Japan (USD 227,240). Turning our interest to the lower level of the wealth distribution, we see that 3.2 billion adults or about 64% of the adult population lives with a wealth below USD 10,000, which corresponds to only 1.9% of the global wealth. Those with low wealth are disproportionately found among the younger age groups, those who live in regions where prospects for wealth creation are very limited (most notably Africa) and where opportunities are sometimes constrained. The wealth of women has been receiving increasing attention and we estimate that women account for about 40% of global wealth overall. During the 20th century, their share of wealth rose considerably and, since the year 2000, the level of women's wealth has risen along with all household wealth, especially in Asia alongside the rise of China's wealth. The tendency shows that more self-made women are succeeding in business and are entering the highest wealth ranks. Despite this trend, even in those countries where progress is the strongest, some categories of women – such as single mothers and divorcees – remain disadvantaged. While more is required to be done to ensure that women have an equal opportunity to build up, inherit and share in wealth, there are signs that progress has been happening in many parts of the world. Given some of this year's intriguing findings, we hope you find the 2018 edition of the Global Wealth Report a valuable source of insight and wish you interesting reading.","keywords":"Data Sources: Wealth Inequality Trends","url_file":"Shorrocksetal2018a.pdf","note":"Credit Suisse Research Institute","bibtex":"@misc{Shorrocksetal2018a,\n title = {Global Wealth Report 2018},\n author = {Shorrocks, Anthony and Davies, James B. and Lluberas, Rodrigo},\n year = {2018},\n month = oct,\n url = {https://www.credit-suisse.com/about-us/en/reports-research/global-wealth-report.html},\n urldate = {2022-02-17},\n abstract = {The Credit Suisse Global Wealth Report is the most extensive and current source of information on global household wealth. Now in its ninth edition, the report not only provides insights into the wealth development of regions and segments, but for the first time it also focuses on the most recent evidence on female wealth holdings, in particular on gender differences with males. During the 12 months since our last report to mid-2018, aggregate global wealth rose by USD 14 trillion to USD 317 trillion, which represents a growth rate of approximately 4.6\\%. This growth rate was lower than last year, but higher than the average growth rate in the post-2008 era. This was sufficient to outpace population growth, so that wealth per adult grew by approximately 3.2\\%, a record high. Looking at the number of millionaires, we see that there are 42.2 million millionaires worldwide, which is up 2.3 million over the previous 12 months. Our research indicates that the United States added 878,000 new millionaires \\textendash{} representing around 40\\% of the global increase \\textendash{} to its already sizable stock, whereas the number of newcomers in France, Germany, the United Kingdom and Italy was around 200,000 each. In China, the number of millionaires rose by a modest 186,000 and in Japan 94,000. The main explanation for these increases in millionaire numbers within countries lies in the real wealth growth, rather than in exchange-rate movements. Millionaire numbers fell in very few countries (such as Turkey and Brazil), and by relatively small amounts, the main driver being currency depreciation. The key finding of this year's new wealth valuation is for many observers not surprising \\textendash{} China is now clearly established second place in the world wealth hierarchy. The country overtook Japan with respect to the number of ultra-high net worth (UHNW) individuals in 2009, total wealth in 2011 and the number of millionaires in 2014. Nevertheless, the data shows that mean wealth per adult in China (USD 47,810 in mid-2018) remains far below the level in Japan (USD 227,240). Turning our interest to the lower level of the wealth distribution, we see that 3.2 billion adults or about 64\\% of the adult population lives with a wealth below USD 10,000, which corresponds to only 1.9\\% of the global wealth. Those with low wealth are disproportionately found among the younger age groups, those who live in regions where prospects for wealth creation are very limited (most notably Africa) and where opportunities are sometimes constrained. The wealth of women has been receiving increasing attention and we estimate that women account for about 40\\% of global wealth overall. During the 20th century, their share of wealth rose considerably and, since the year 2000, the level of women's wealth has risen along with all household wealth, especially in Asia alongside the rise of China's wealth. The tendency shows that more self-made women are succeeding in business and are entering the highest wealth ranks. Despite this trend, even in those countries where progress is the strongest, some categories of women \\textendash{} such as single mothers and divorcees \\textendash{} remain disadvantaged. While more is required to be done to ensure that women have an equal opportunity to build up, inherit and share in wealth, there are signs that progress has been happening in many parts of the world. 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