RegionsAsia PacificWealth is skewed towards the wealthy, Credit Suisse report reveals

Wealth is skewed towards the wealthy, Credit Suisse report reveals

This year’s Global Wealth Report published by Credit Suisse highlights the distribution of global wealth across regions and countries which the financial services company believes is crucial when understanding fully how assets are allocated.

This year’s Global Wealth Report published by Credit Suisse highlights the distribution of global wealth across regions and countries which the financial services company believes is crucial when understanding fully how assets are allocated.

An example is made of China, a country that has grown in wealth five times since the start of this century because of financial assets, has gained over 150% in stock prices between June 2014 and June 2015, but declined sharply after, the report explained.

Another important revelation the report was that at the top of the wealth pyramid, there are now over 120,000 UHNWIs (ultra-high net worth individuals) who are worth over $50 million each. “The fortunes created in China led to the rapid emergence of a sizable UHNW population, which now makes up 8% of global UHNWIs,” CEO of Credit Suisse, Tidjane Thiam said in the introduction to the report.

Thiam also mentioned that the report would focus on middle class wealth as this has grown at a slower pace than the top end in the hierarchy. “This has reversed the pre-crisis trend, which saw the share of middle-class wealth remaining fairly stable over time. These results reinforce our findings from last year’s edition of this report, which argued that wealth inequality had widened in most countries in the years after the 2008 crisis,” the survey reported.

Credit Suisse does say that the middle class will continue to expand in emerging economies and growth in expected to continue in Asia.

Related Articles

Landmark and HSBC carry out dual-platform blockchain transaction

Asia Pacific Landmark and HSBC carry out dual-platform blockchain transaction

1m Jay Ashar
Singapore the most preferred treasury location: EY Report

Asia Pacific Singapore the most preferred treasury location: EY Report

2m Jay Ashar
China’s regulatory changes stimulate international interest

Asia Pacific China’s regulatory changes stimulate international interest

1y Michael McCaw
Singapore Fintech Festival day four – Investor Summit Deal Day

Asia Pacific Singapore Fintech Festival day four – Investor Summit Deal Day

2y Richard Hartung
Singapore Fintech Festival day three: trade finance, capital markets and financial inclusion

Asia Pacific Singapore Fintech Festival day three: trade finance, capital markets and financial inclusion

2y Richard Hartung
Singapore Fintech Festival day two: blockchain, India's digitalisation and the future of banking

Asia Pacific Singapore Fintech Festival day two: blockchain, India's digitalisation and the future of banking

2y Richard Hartung
Is Asia too risky for corporate investment?

Asia Pacific Is Asia too risky for corporate investment?

2y Richard Hartung
GTreasury & Visual Risk announce partnership to focus on integrated treasury and new markets

Asia Pacific GTreasury & Visual Risk announce partnership to focus on integrated treasury and new markets

2y Guest Writer

Whitepapers & Resources

TIS Sanction Screening Survey Report

Payments TIS Sanction Screening Survey Report

2w
Sanction Screening: The risk for companies is real

Payments Sanction Screening: The risk for companies is real

2m
Enhancing your strategic position: Digitalization in Treasury

Payments Enhancing your strategic position: Digitalization in Treasury

2m
Are You Ready to Implement your GRC Solution?

Are You Ready to Implement your GRC Solution?

3m