Luxembourg Published on 09.10.13 18:28

Luxembourg the wealthiest EU country, report finds

Photo: Shutterstock

(CS) Luxembourg is the wealthiest country in the eurozone and the fourth wealthiest worldwide, according to the 2013 Global Wealth Report, issued by Credit Suisse.

Average household wealth was the highest in Switzerland, where it surpassed the 500,000 USD barrier to reach 513,000 USD per adult. Australia (403,000 USD), Norway (380,000 USD), and Luxembourg (315,000 USD).

However, when looking at median wealth, the midpoint between the richest and poorest, Australia ranks first with a median wealth per adult of 220,000 USD, followed by Luxembourg in second place at 183,000 USD, showing a more equal distribution of wealth in both countries.

On the whole, the report found that global wealth has more than doubled since 2000, despite the economic crisis, with a strong rebound seen in the US and crisis stricken European countries, paired with higher population levels and wealth increase in emerging nations.

Split among adults worldwide, the global wealth of 241 trillion USD amounted to 51,600 USD, a new record high.

The highest number of millionaires meanwhile lives in the US, home to over 13 million millionaires and around 46,000 people in the 50-million-USD and upward category. The US also overtook Europe for the first time in terms of personal wealth ownership since before the financial crisis in 2008.

This was attributed especially to rising real estate prices and stock markets. Asia, and Japan especially, on the other hand saw significant downturn.

Find out more about the Global Wealth Report on credit-suisse.comand click here for the full report.

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