Switzerland - the country with the highest wealth/person

Global wealth grew by 4.2% in 2023 as stock markets recovered and inflation eased, according to an analysis by www.visualcapitalist.com.

The cited source brings to attention the fact that, while Europe, the Middle East and Africa recorded the strongest increase in wealth, in the USA, the advance accelerated by approximately half the pace of the mentioned regions, respectively by 2.5% annually. From a regional perspective, the average wealth per person in 2023 looks as follows: Europe, the Middle East and Africa - $166,000; Asia Pacific -$156,000; America - $146,000.

The ranking of the top ten countries according to average and median wealth, according to UBS data, shows that the highest average wealth per person can be found in Switzerland: $709,612 in 2023, up from $685,226 in 2022. Luxembourg is next, with $607,524 ; Hong Kong, with $582,000; USA - with 564,862 dollars; Australia, with $546,184; Denmark - with 448,802 dollars; New Zealand - with $408,231; Singapore - with $397,708; Norway - with $382,575; Canada, with $375,800. These figures show that many of the wealthiest nations are small countries with thriving financial sectors, including Luxembourg and Singapore. These countries benefit from significant foreign direct investment and pro-business policies, which contribute to stimulating economic wealth. In Singapore, capital gains and dividend income are tax-free.

The analysis covered 56 countries, representing approximately 92.2% of the global population.

If a more representative reference of the wealth distribution is taken into account, namely the median wealth, it shows "a different story", according to the quoted source. Median wealth is the amount that divides the total wealth of a population in half, with half of the population having more and half having less. According to the cited source, the median wealth per adult is much lower than the average figures in many countries, highlighting the wealth gaps between populations. In Switzerland, it is four times smaller, while in the United States - it is almost five times smaller. In this segment, Luxembourg is in the lead, with 372,258 dollars, this being the country with the highest density of millionaires in the world. Australia follows, with $261,805; Belgium, with $256,185; Hong Kong, with $206,859; New Zealand, with $202,525; Denmark, with $193,669; Switzerland, with $171,035; Great Britain, with $163,515; Norway - with $152,233; Canada - with $142,587.

In Luxembourg, approximately 16% of the population are millionaires, compared to the average of 1.5% in the 56 countries analyzed. In addition, there are no billionaires in Luxembourg, the country having a population of only 653,000 inhabitants.

Moreover, Australia and Belgium are moving up in this ranking, Belgium registering a particularly small gap between the average and the median wealth. Part of this is attributed to the high property holdings in Belgium, where 10% of the population owns more than one home.