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Global Wealth Grew 27% to $280 Trillion in 2017 – Credit Suisse Research Institute
Global wealth has grown by 27% to $280 trillion since the global financial crisis in 2007. The wealth held by an adult is $56,450, a new record high according the to Global Wealth Report 2017.
” Global wealth increased to $280 trillion, $56,450 per adult, 36 millionaires today “
Global wealth should continue to grow in the range of 3.8 to 3.9%, albeit at a slower rate than the previously estimated 5.4%. Global wealth is also expected to grow from $280 trillion to $341 trillion, while merging economies is expected to represent 22% of global wealth by 2022. There are 36 million people today, and this will increase to to 44 million in 2022.
The 2017 Global Wealth Report, in its 8th edition, is published by Credit Suisse Research Institute.
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Credit Suisse (NYSE:CS) was founded in 1856 by Alfred Escher, under the name “Schweizerische Kreditanstalt.” The original purpose of the new bank known as SKA was to finance the expansion of the railroad network as well as the further industrialization of Switzerland. Fourteen years later, the bank’s first foreign representative office opened up in New York. In 1905, the bank’s first branch outside Zurich opened in Basel following the acquisition of Oberrheinische Bank. Today, it has a global reach with operations in over 50 countries and 48,200 employees from over 150 different nations. It serves its clients through three regionally focused divisions: Swiss Universal Bank, International Wealth Management and Asia Pacific. These regional businesses are supported by two other divisions specializing in investment banking capabilities: Global Markets and Investment Banking & Capital Markets.
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