The Rise Of The Mega-Rich

Despite global wealth declines, India shines, according to a recent report on the world's wealthiest

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Over the past decade or more, economists, analysts, and other experts have continuously monitored a key variable: global wealth. Global wealth provides a comprehensive insight into whether worldwide inequality is on the rise or diminishing. It also serves as a valuable indicator for large institutional investors and savvy market participants, offering guidance on which markets are performing well in terms of wealth generation.

In this context, the fourteenth edition of the Credit Suisse Global Wealth Report, presented this year in collaboration with UBS, aims to deliver the most comprehensive available information regarding global household wealth.

Exploring the key findings and historical data presented in the report will enable us to gain a better understanding of the post-pandemic world on a broader scale. Let’s delve into the details.

A SNAPSHOT OF 2022

In 2022, the world witnessed a decline in global wealth, marking the first decrease since the global financial crisis of 2008, as reported in the Credit Suisse Global Wealth Report 2023. Now, let’s understand the key takeaways from the report:

• The year 2022 recorded the first net decrease in global household wealth since the 2008 financial crisis.

• In terms of nominal USD, the total net private wealth declined by US $11.3 trillion, reaching US $454.4 trillion by the end of the year.

• Wealth per adult also fell, decreasing by US $3,198 to reach US $84,718 per adult by the end of 2022. Much of this reduction can be attributed to the strengthening of the US dollar against many other currencies.