The Global Wealth Report showed that the growth of wealth waned in 2021 due to the difficulties faced by the global market environment during the past months.
and publishing instituteCredit SuisseThe 13th Global Wealth Report shows wealth continuing to grow in the United States, Canada and China and falling in other regions.
The report found that wealth grew at a strong pace in 2021, and by the end of the year, total global wealth amounted to about $463 trillion, an increase of 9.8 percent.
However, the report notes that factors such as inflation, rising interest rates and declining asset and real estate prices could affect the gains made in 2021.
The report says that most parts of the world contributed to the increase in global wealth, but North America and China dominated that increase, with North America accounting for just over half of the global total, and China accounting for nearly a quarter.
In contrast, Africa, Europe, India and Latin America combined accounted for only 11.1 percent of global wealth growth, while growth was only 1.5 percent in Europe.
According to the report, the most important development in 2021 was the large-scale and significant gains in stock prices.
Shares rose in about 31%, followed by France (28%), the United States (23%), Italy (23%) and Canada (22%).
Elsewhere, share prices rose by more than 30 percent, such as Austria, Sweden, Saudi Arabia, Vietnam and Israel, and by more than 40 percent in Romania, the Czech Republic and the United Arab Emirates.
The report also indicated that the number of people owning one million dollars or more rose by an additional 5.2 million members during 2021, and their total number reached 62.5 million people worldwide by the end of the year.
The United States ranked first in the number of millionaires with 30,470 millionaires, followed by China with 5,200 millionaires.
According to the report, Switzerland ranked first in the list of average wealth for the year 2021, followed by the United States and Hong Kong, and for the Arab countries, only Qatar appeared in the list at 39th.