by © Marekusz | Dreamstime.com According to a recent report by the bank Credit Suisse, the Swiss are worth more on average than the residents of any other nation. The bank’s annual Global Wealth Report calculates average net worth per Swiss adult to be US$ 564,653 (CHF 560,643) at mid-2019. The median figure was US$ 227,891 ...
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© Marekusz | Dreamstime.com
According to a recent report by the bank Credit Suisse, the Swiss are worth more on average than the residents of any other nation. The bank’s annual Global Wealth Report calculates average net worth per Swiss adult to be US$ 564,653 (CHF 560,643) at mid-2019. The median figure was US$ 227,891 (CHF 226,273).
Switzerland’s combined personal wealth of US$ 3.9 trillion represents 1.1% of the global total, while the nation’s population represents 0.1% of the global total.
The wealth figures include real estate but excludes 2nd pillar pension wealth.
Since 2000, wealth per adult in Switzerland has risen by 144%. The country heads the global ranking this year, as it has in every other year, disregarding small countries like Iceland, for which the data is less reliable. Much of the rise is due to the appreciation of the Swiss franc against the US dollar, especially between 2001 and 2013.
Debts average US$ 142,620 per adult, which is one of the highest levels in the world, and represent 20% of total assets. The debt ratio has risen slightly from a low of 19% in 2014.
Switzerland accounts for 1.8% of the top 1% of global wealth holders, which is remarkable for a country with just 0.1% of the world’s adult population. About two-thirds of Swiss adults have assets above US$ 100,000, and 12% are US$ millionaires.
By mid-2019 Switzerland had 810,000 US$ millionaires, a number expected to rise to 1,032,000 by 2024.
Tags: Editor's Choice,Featured,newsletter,Personal finance,Property,Wealth Switzerland,Wealth Switzerland 2019