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Vietnam is one of the countries with the highest asset growth per adult

Vietnam is one of the countries with the highest asset growth per adult

Monday 28, 10 2019
The poorest 50% of the population accounts for less than 1% of the global wealth, while the richest 10% own 82% of global wealth and the richest 1% own 45%.
Credit Suisse's Global Wealth 2019 report said that Vietnam ranked 4th in wealth growth per adult. China ranks first, followed by India and Russia.
"Emerging markets like Vietnam, China and India are becoming increasingly important to the world economy," the report wrote.
In mid-2019, the world had 46.8 million millionaires, an increase of 1.1 million compared to 2018. By 2024, this number is expected to increase to 63 million.
Besides, the report also points out many interesting points about the global assets.
  1. The average asset per adult is at a high record
Over the past year, the global assets have increased by 9.1 trillion USD, equivalent to 2.6% and reached the landmark of 360.6 trillion USD, in which the US, China and Europe contributed the most. Wealth growth is faster than population growth, so the average wealth per adult has risen to $ 70,850 - the all-time high.
  1. Switzerland gains the largest assets - and Australia plunges the most
In terms of wealth growth per adult, Switzerland is the top country in this year's rankings, with income growth of up to $ 17,790. Australia is at the bottom of the scale, with a decrease of $ 28,670 per adult, largely due to the impact of exchange rates. Australia lost 124,000 USD millionaires after the average asset decline and was the only country to record a real estate discount of 6%.
  1. China accounts for the largest share in the top 10% of the richest people in the world: 100 million people
Since 2000, China's total household assets have increased from US $ 3.7 trillion to US $ 63.8 trillion and second only to the United States in total household assets. China now has 4.4 million millionaires and for the first time surpassed the United States to become the largest country in the top 10% of the world's richest people. It is one of the few countries to avoid most of the impact of the global financial crisis.
  1. 1% of the richest people own nearly half of the global wealth

In terms of inequality, as of mid-2019, the poorest 50% of the population account for less than 1% of global wealth, while the richest 10% own 82% of global wealth and 1% of the rich most owned up to 45%. More than half of adults worldwide have a net income of less than $ 10,000.
 
However, global inequality is tending to narrow, thanks to efforts to reduce inequality within countries.
  1. Women are getting richer because of increased labor force participation
Women's total assets have increased in most countries, due to the increasing participation of the female workforce. The property is divided more equally between spouses and a number of changes in other factors, the report said.

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