“The war in Ukraine has hindered the post-corona recovery and turned the world upside down: Inflation is rising, energy and food shortages, and tightening monetary policy are putting the economy and markets under pressure,” Allianz said in its Global Wealth Report. Released on Wednesday 2022.
Households would also feel the effects on their wealth. “Global financial assets are likely to fall more than 2 percent in 2022, the first significant loss of wealth since the 2008 financial crisis.” In real terms, households could lose a tenth of their wealth.
According to the research, 2021 should have been the last hurray. Net financial assets per capita (gross financial assets minus liabilities) rose 7.9 percent to 237,110 euros in Switzerland. When asked by the AWP news agency, Allianz economist Lorenz Weimann said it was a new record.
With this, Switzerland retained second place worldwide. Only Americans were richer at 259,780 euros per person. Denmark is in third place with 183,610 Euros per capita.
Strong growth in Switzerland is due to the boom in stock markets that continued to rise last year. Securities would rise by one-fifth. Saving behavior in this country has also changed, Allianz said: “Swiss savers purchased €50 billion worth of shares and mutual funds in 2021, an increase of 24 percent compared to the already strong 2020.”
As a result, the share of capital market products in fresh savings rose to 60 percent – “it’s never been higher in Switzerland,” they say. By contrast, the donation of bank deposits did not play much of a role, at 3.3 billion euros, as low as it was during the financial crisis. The remaining 30 billion euros went into savings, insurance and pensions.
Overall, gross financial assets grew by 6.9 percent. This was the second strongest growth since the financial crisis. “Growth was thus well above the long-term average (+4.3 percent),” Allianz wrote.
Gross financial assets per capita in Switzerland amounted to 345,980 euros, the best in the world. However, at 108,870 euros, Switzerland also has the highest per capita debt in the world.
Overall, the Swiss population has a net financial asset of 2061 billion euros. This puts it 12th among countries surveyed worldwide. In net terms, Switzerland has more assets than gigantic countries such as India (1,820 billion euros) and Brazil (1.916 billion). Spain (1.922 billion) and South Korea (1.982 billion) cannot match Switzerland with their much larger populations.
The USA is the undisputed leader of the world, with a total net financial asset of 87.546 billion euros, surpassing China (21.957 billion) and Japan (12.800 billion). In euro terms, the Croesus is ahead of Great Britain (6918 billion) ahead of Germany (5779 billion) and France (4667 billion).
(SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
