Global wealth soars to $317 trillion in 2018; U.S. share of it is largest at $98 trillion
Global wealth reached $317 trillion this year, a figure that is 18 times the size of the U.S. gross domestic product. The number rose 4.6 percent from last year. The nation with the most wealth is the U.S. at $98 trillion.
The report went on to say that the 4.6 percent increase in global wealth was more than enough to outpace world population growth, so that wealth per adult grew by 3.2 percent. That means global mean wealth rose to $63,000 per adult, which is a record.
The data come from the Global Wealth Report, which is published by the Credit Suisse Research Institute. The 2018 version is the ninth that the Institute has published. Wealth, as described by the report, is a combination of household financial assets like stocks, and non-financial assets that include real estate and individual belongings. The calculations cover a year that ends mid-2018.
The report noted a significant feature of wealth outlook was "the seemingly relentless rise in household wealth in the United States. Total wealth and wealth per adult in the United States have grown every year since 2008, even when total global wealth suffered a reversal in 2014 and 2015."
China has become the world's second-largest economy by GDP and has moved into second position based on total household wealth, replacing Japan. "The main outcome of the new wealth valuations is confirmation of what many observers already suspected, that China is now clearly established in second place in the world wealth hierarchy," the report said.
Connect With Us