Credit Suisse Research: Third Annual Global Wealth Report 2012

The Credit Suisse Research Institute has released its third annual Global Wealth Report 2012, which finds that from mid-2011 to mid-2012 aggregate global household wealth fell by 5.2% in current dollar terms to USD 223 trillion due to the economic uncertainties of the past year – particularly those affecting the Eurozone. Furthermore, the relative stability of the US economy has led to an appreciation of the USD against most currencies, but the impact is especially apparent in Europe, raising the aggregate wealth loss to USD 10.9 trn, by far the largest contribution to the total global loss of USD 12.3 trn. Asia-Pacific was the other big regional loser, shedding USD 1.4 trn.

In addition, Credit Suisse’s research highlights household wealth forecasts, including that it expects:

− Wealth to rise by almost 50% in the next five years from USD 223 trillion in 2012 to USD 330 trillion in 2017

− The number of millionaires worldwide to increase by about 18 million reaching 46 million in 2017

− China to add a total of USD 18 trillion to the stock of global wealth in the next five years and surpass Japan as the second wealthiest country in the world

− The USA to remain on top of the wealth league with USD 89 trillion by 2017

− The Eurozone’s total wealth in the next 5 years to only equal today’s level of wealth in the USA, despite that the Eurozone counts 16 million more adults

While the number of millionaires in emerging economies is still well below the level in the USA (16.9 million) and Europe (15.4 million), it is expected to increase substantially in the next few years. China could see its number double by 2017, raising the total to almost two million. Credit Suisse also expects to see a substantial increase (53%) in the number of millionaires in India (84,000) by 2017.

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