The world’s personal financial wealth grows to nearly $202-trillion
The world’s wealthiest are even richer, with North America holding 43% of personal wealth; Switzerland is still the world’s biggest centre for offshore wealth with $2.3-trillion
Zurich — Personal financial wealth swelled 12% last year to nearly $202-trillion, the strongest growth in five years as bull markets and the dollar’s weakening against most major currencies boosted global fortunes, a study showed on Thursday. Adjusted for exchange rate swings, global wealth rose 7%, the Boston Consulting Group survey found. While residents of North America held the greatest share of personal wealth at almost 43%, the fastest growth came in Asia, Latin America and the Middle East. Most super-rich individuals lived in the US, China and Japan. The consulting group’s annual study showed Switzerland remained the world’s biggest centre for managing offshore wealth with $2.3-trillion, followed by Hong Kong with $1.1-trillion and Singapore with $0.9-trillion. The two Asian centres have grown at yearly rates of 11% and 10% respectively over the past five years, more than three times the 3% rate Switzerland has posted. "Over the next five years, offshore wealth seems likely t...
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