Global household wealth increased 4.9% to $241 trillionStaff writer ▼ | October 10, 2013
The Credit Suisse Research Institute today released its fourth annual Global Wealth Report 2013, which finds that from mid-2012 to mid-2013 aggregate global household wealth increased by 4.9% in current dollar terms to $241 trillion.The Credit Suisse Research Institute today released its fourth annual Global Wealth Report 2013, which finds that from mid-2012 to mid-2013 aggregate global household wealth increased by 4.9% in current dollar terms to $241 trillion.
North America gained $8.4 trillion, an increase of 11.9%, fueled by a recovery in house prices and a bull equity market in the United States. It became the lead region in terms of total net wealth for the first time since 2005, overtaking European holdings, which added $5.5 trillion, an increase of 7.7%.
As a result of a 22% depreciation of the Japanese yen against the US dollar during the period, household wealth in Japan dropped 20.5% to $22.6 trillion, dragging down total wealth in Asia Pacific by 3.7% to $73.9 trillion. However, Asia Pacific ex-Japan continued to register stable wealth growth by 6.2% to USD 51.3 trillion in mid-2013.
Key findings of the report include: Wealth is to rise by nearly 39% in the next five years, reaching $334 trillion by 2018; emerging markets are to increase their share of global wealth to 23% by 2018, with China alone expected to represent more than 10% of global wealth; and the US is to remain the undisputed leader in terms of aggregate wealth, with total net worth approaching $100 trillion by 2018.
Eurozone wealth per adult in 2013 has recovered more than half of the large loss experienced 12 months earlier, mainly due to rising equity prices. Switzerland ranks highest in average wealth, breaking the $500,000 level to hit a new high of $513,000 per adult. The number of millionaires worldwide is to increase by about 16 million reaching 47 million in 2018. ■