Published on 23 October 2018 by Julia Sadieva
Global wealth is projected to rise by nearly 26% over the next 5 years, reaching USD 399 trillion by 2023, according to the Global Wealth Report 2018 from Credit Suisse. Emerging markets are responsible for 32% of the growth, although they account for just 21% of current wealth. Wealth will primarily be driven by growth in the middle segment, but the number of millionaires will also grow markedly over the next five years to reach a new all-time high of 55 million, while the number of ultra-high net worth individuals will reach 205,000. Credit Suisse estimated that the top decile of wealth holders owns 82% of all household wealth in Russia. This is a high level, greater even than the figure of 76% for the United States, which has one of the most concentrated distributions of wealth among advanced nations. The high concentration of wealth in Russia is also reflected in the fact that it is estimated to have 74 adults who are billionaires, despite its modest level of wealth per adult.
Full report is available here>>