According to a 2016 Global Wealth Report by Credit Suisse Research Institute, all of the people on the Earth combined are worth about $256 trillion. That represents an increase of 1.4% over last year. Creation of new wealth has merely kept pace with population growth. As a result, the study concludes, in 2016, wealth per adult was unchanged for the first time since 2008, at approximately $52,800 (USD).
So where is the wealth in the world located?
1. North America has just over 5% of the world’s population, yet (no surprise) it is the wealthiest region with about $92 trillion of the world’s wealth (36%).
2. Europe is next, with about $73 trillion. They account for about 12% of the world’s population, yet 28.5% of its total wealth.
The numbers skew in the other direction after these two regions.
3. The region known as “Asia-Pacific” (excluding China & India) is third, with about $53 trillion (21%) of the world’s wealth, but the region accounts for almost 25% of the world’s population.
4. China alone represents about 20% of the world’s population, and accounts for a little more than $23 trillion, or slightly less than 9% of the world’s wealth.
5. Surprisingly, less than 10% of the world’s population is in Latin America, and they hold approximately $7.5 trillion, or less than 3% of the world’s wealth.
6. India alone accounts for more than 15% of the Earth’s inhabitants, yet their share of the world’s wealth is approximately $3.1 trillion, or just over 1%.
7. And not surprisingly, Africa has about $2.5 trillion of the world’s wealth (just under 1%) and more than 10% of the world’s population.
A person worth $71,600 (USD) or more is considered to be in the wealthiest 10% of people in the world. The Credit Suisse report estimates that half of all adults in the world own less than $2,222 (USD), while those in the bottom 20% of the world population own less than $248 (USD). By comparison, the average wealth per adult in the United States is approaching $350,000 (USD).
Their 2016 report concludes that economic inequality has increased this past year, estimating that the top 1% of the population owns 50.8% of global household assets! A quote from The Economist: “If you were lucky enough to own over $744,400, you could count yourself a member of the global 1% – that voters everywhere are rebelling against.” Food for thought.
To read the full report, click here.