China News Service, Beijing, September 21 (Reporter Yan Xiaohong) The latest 13th "Global Wealth Report" released by Credit Suisse Research Institute shows that wealth in all regions of the world continues to grow, with North America and China leading the way in growth. .
Global wealth will continue to grow over the next five years.
In 2021, China's total wealth will be $85.1 trillion, an increase of 15.1 percent from 2020, the report said.
In 2021, China will have 6.2 million millionaires (in U.S. dollars), an increase of more than 1 million from 2020, or about 10% of the global total.
By 2026, the number of millionaires in China is expected to double to a total of 12.2 million.
The report's analysis of country and global median wealth shows that the global gap between rich and poor has improved this century due to faster growth in emerging markets.
Median global wealth growth is nearly twice as fast as the growth rate of per capita wealth in the global adult population, and much faster than global GDP growth.
In other words, in the past two decades, ordinary families have achieved continuous accumulation of wealth.
According to the report, low- and middle-income countries, which currently account for 24% of global wealth, will contribute 42% of wealth growth over the next five years.
Middle-income countries will be the main drivers of global wealth trends.
The per capita wealth of the global adult population is expected to grow by 28% by 2026, and is expected to exceed the $100,000 mark in 2024.
The number of millionaires will also grow significantly over the next five years.
On a country-by-country basis, the U.S. will see the most significant growth in household wealth in 2021, followed by China, Canada, India and Australia, according to economist Anthony Shorrocks.
Nannette Hechler-Fayd'herbe, Chief Investment Officer EMEA and Head of Global Economics and Research at Credit Suisse, said: "While some countries face an economic slowdown or even a recession, the historic wealth gains in 2021 could be lost in 2022/2023. Although we have seen some reversal in 2018, we believe that global wealth will continue to grow over the next five years. Rising inflation also raises forecasts of global wealth if measured in current rather than real dollars. We expect that by 2024, global wealth The per capita wealth of the adult population will exceed the $100,000 mark, and in the next five years, the total number of millionaires in the world will exceed 87 million.” (End)