Global wealth up 27% since financial crisis

Global wealth up 27% since financial crisis

The poorest 3.5 billion people, who account for 70 percent of the working age population, each earn less than $10,000 and account for just 2.7 percent of global wealth.

As a result, wealth in India grew 9.9 per cent to reach $5 trillion in mid-2017.

The annual Global Wealth Report, published Tuesday by Credit Suisse, points out that while the top 1 percent and 10 percent of the world's richest saw their share of wealth decline between 2001 and 2008, the trend swung the other way after the financial crisis. While wealth has been rising in India, not everyone has shared in this growth.

It pointed to "widespread gains in equity markets", at the same time as non-financial assets like real-estate for the first time passed the level they were at when the global financial crisis struck in 2007. Analysts said the impact of leaving the European Union on British markets and the value of the pound means United Kingdom wealth is likely to fall by 0.9 per cent over the next five years. "However, due to India's large population, this translates into 4.2 million people", the report adds.

Median wealth per adult favors countries with lower levels of wealth inequality, Credit Suisse said, and there is exceptionally high disparity between the rich and poor in the U.S.

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The world's richest 1% of families and individuals hold over half of global wealth, according to a new report from Credit Suisse.

Among key findings about India, the report said fluctuations in asset prices and exchange rates accounted for much of the change in household wealth across regions and countries in the short run. Most of these influences have been positive during past 12 months, including in India, where market capitalisation rose by close to 30 per cent, house prices by around 10 per cent, while Indian rupee rose 4 per cent against the USA dollar.

India's wealth is forecast to grow by 7.5 per cent annually to reach $7.1 trillion in 2022.

The wealthiest one percent of the world's population now owns more than half of the world's wealth.

Personal wealth in India is dominated by property and other real assets, which make up 86 per cent of estimated household assets.

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