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Richest and richest: Spain is the tenth country in the world with more millionaires

2019-10-21T14:15:39.549Z

On world radiography, the rich are increasingly numerous and richer. It is the general diagnosis of the latest global wealth report 2019 (Global Wealth Report 2019) ela



On world radiography, the rich are increasingly numerous and richer. It is the general diagnosis of the latest global wealth report 2019 ( Global Wealth Report 2019 ) prepared by the Credit Suisse Research Institute , which also shows that Spain is ranked number 10 in terms of number of millionaires by country. In total there are 979,000 lucky people , compared to 945,000 more than the previous year and 172,000 in 2010.

The thing is not there. "The number of Spanish millionaires is expected to grow an additional 42% over the next five years," said Miguel Matossian , head of Credit Suisse Private Banking in Iberia.

The report also highlights that Spain is in eighth position of the countries that have grown the most in average wealth per adult ( $ 50,000) this year compared to 2018, and in 16th place among the countries with the highest number of ultra - rich people , that is, people whose assets exceed 50 million dollars. Globally, the study records 46.8 million millionaires in 2019, of which 2% are Spanish.

The local conclusions are in line with the general trend. World wealth has increased 2.6% this year , to 360,000 million dollars, and there are 46.8 million millionaires, an increase of 1.1 million compared to 2018 data; the majority -675,000 new millionaires- comes from the United States.

Precisely the advance of the North American country and China have thrown up the total balance, and that despite the commercial war that both powers have maintained for about a year.

Somewhat worse things have gone in Australia, where wealth has contracted and the result has resulted in 124,000 millionaires less. Losses have been lighter in other countries such as the United Kingdom (-27,000) or Turkey (-24,000).

More 'ultra-rich'

As far as the ultra-rich are concerned , according to the report, 55,920 adults had an estate of 100 million dollars or more in mid-2019 and 4,830 of them had net assets above 500 million dollars. North America tops the regional list in this category, with 84,050 individuals (50% of the total), while Europe has 33,550 (20%) and Asia-Pacific, excluding China and India, 22,660 (14%).

In addition, for the first time this year, China has registered more individuals among the 10% of the world's richest (100 million people) than the United States (99 million).

To determine how global wealth is distributed among adults, the report combines estimates of the level of wealth of households in each country with information on the distribution of wealth in countries. The pyramid of wealth produced by the Swiss bank illustrates the heritage difference between adults. In it, the broad base of individuals with low patrimonial level supports the highest layers occupied by less and less adults.

In 2019, about 2,900 million people - 57% of the total adults in the world - have a heritage of less than $ 10,000 ; The following ranking, which includes those with $ 10,000 and $ 100,000, has experienced the biggest increase of this century, tripling its volume from 514 million in 2000 to 1,700 million in mid-2019. This is a reflection of the growing prosperity of emerging economies, especially in China, and the expansion of the middle class in the developing world. The average assets of this group are $ 33,530, a little less than half of the average global wealth level, but well above the average wealth of the countries in which most of its members reside.

The report also examines the wealth rate in relation to long-term GDP growth and notes that the most successful countries are those that manage to raise wealth as a multiple of gross domestic product by solving deficiencies in the institutional and financial sector. "This creates a virtuous circle in which more wealth stimulates GDP growth, which in turn produces a growth of wealth," he says. China, India and Vietnam are current examples of this trend.

Improvement in women

In most of the countries studied, women's assets have grown in relation to men's. This is due, among other factors, to the increase in female participation in the labor market and to a more equitable distribution of assets between spouses.

The overall outlook for the coming years is optimistic. According to the Global Wealth Report 2019 , global wealth is expected to increase by 27% over the next five years to $ 459 billion in 2024. Countries with low and medium incomes are responsible for 38% of growth, despite the fact that they only represent 31% of current wealth. Growth in middle-income countries will be the main driver of global trends.

The number of millionaires will also increase markedly to almost 63 million, while the number of ultra - rich will reach 234,000.

According to the criteria of The Trust Project

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Source: elmuldo

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