Revealed: the world's wealthiest countries
Daniel Coughlin
16 November 2018
How rich is your nation?
The world's total wealth soared by $14 trillion (£10.8trn) in the past 12 months to hit a mind-boggling $317 trillion (£243.7trn) according to the latest Credit Suisse Global Wealth Report. Based on average wealth per adult, we rank the 35 most affluent countries.
35. Czech Republic: $61,489 (£47.2k)
Average wealth per adult in the Czech Republic increased by 6.4% over the past 12 months, comfortably outpacing inflation. IMF data shows the Central European nation boasts the lowest income inequality and at-risk poverty rates in the OECD, meaning wealth is fairly distributed.
34. Libya: $61,702 (£47.3k)
The security situation in conflict-ravaged Libya as well as the economy have improved somewhat, but the country is still embroiled in a brutal civil war, and its oil wealth, which is skyrocketing, rests in the hands of a privileged few while large sections of society live in poverty.
33. Chile: $62,222 (£47.7k)
Likewise, wealth inequality is rife in Chile, where the gap between rich and poor is cavernous, though people are better off on the whole than in other South American nations such as Brazil and Colombia.
32. Slovenia: $79,097 (£60.8k)
The richest of the ex-Yugoslav countries, Slovenia is nevertheless one of the poorest EU members, though average wealth per adult rose 9.4% in the past year, and wages compare favourably with nations such as Greece and Portugal.
31. UAE: $88,173 (£67.8k)
Average wealth per adult fell by 5.3% in the UAE during the past 12 months. The country's economy has been performing sluggishly with everything from GDP growth to house prices stagnant, though an improvement is on the horizon.
30. Kuwait: $91,374 (£70.2k)
The Kuwaiti economy is experiencing a similar slump, which has impacted the average wealth per adult figure. It increased only marginally in the past year to $91,374 (£70.2k), a barely noticeable rise of just 0.01%.
29. Cyprus: $100,308 (£77.1k)
One of the most dynamic economies in Europe, Cyprus is expected to record a growth rate of 3.9% this year, well above the Eurozone average, which fell to 0.2% in the third quarter. Average wealth per adult is also growing rapidly, up 8.4% during the past 12 months.
28. Greece: $108,127 (£83.2k)
The Greek economy has been to hell and back over the past decade. Fortunately, the country's finances are improving and average wealth per adult increased by 7.4% to hit $108,127 (£83.2k) in the past 12 months.
27. Portugal: $109,362 (£84.3k)
The Portuguese economy has also pulled off something of a comeback of late, with several key indicators in the country looking decidedly rosy. Unsurprisingly, average wealth per adult rose by 7.4% in the past year.
26. Qatar: $121,638 (£93.7k)
Qatar has the highest GDP per capita in the world but average wealth per adult is lower than you might imagine at $121,638 (£93k), though this figure is the highest in the region. Wealth equality is particularly pronounced in the oil-rich country.
25. Malta: $140,629 (£108.3k)
The Maltese economy has been on fine form over the past 12 months. Growth is strong, unemployment is low and other indicators are positive with personal wealth in the country up 6.8%.
24. Finland: $161,062 (£124k)
Average wealth per adult increased by 2.8% in Finland during the past 12 months. Like other Nordic nations, wealth tends to be spread out rather than concentrated at the top. Finland has even experimented with a universal basic income, the first country in the world to do so.
23. South Korea: $171,139 (£131.8k)
One of the most affluent countries in Asia, South Korea is enviably rich. Average wealth per adult rose by 4.8% over the past year, topping out at $171,139 (£131.8k). This wealth is reasonably well distributed though stark inequalities exist, particularly among the over-65s.
22. Israel: $174,129 (£134.1k)
The Israeli economy is one of the most advanced in the region and growth is expected to hit 3.8% this year. Yet average wealth per adult fell by 5.7% over the past few months as the shekel weakened against the US dollar.
21. Spain: $191,177 (£147.2k)
Spain's economic prospects have improved markedly since the country's economic crisis ended in 2014, and the typical resident is richer as a result. Over the past 12 months, average wealth per adult grew by an encouraging 4.3%.
20. Taiwan: $212,375 (£163.6k)
Growth has slowed in Taiwan since this time last year and the country's currency has depreciated against the US dollar, both of which are impacting average wealth per adult, which increased by a very modest 0.9%. Be that as it may, Taiwanese adults are among the most moneyed in Asia.
19. Germany: $214,893 (£165.5k)
Germany may be the richest country in Europe in terms of GDP, but when it comes to average wealth per adult, the nation lags behind. However, the figure rose by 6.9% over the past 12 months, mainly due to the buoyant German housing market.
18. Italy: $217,787 (£167.7k)
Average wealth per adult increased in Italy too over the past year, up 5.2% compared to the previous 12-month period, but with the country's economy at breaking point, it remains to be seen whether this growth can be sustained going into 2019.
17. Japan: $227,235 (£175k)
Seemingly stuck in a perennial slump, the Japanese economy has been predictably lacklustre over the past 12 months, though average wealth per adult remains reassuringly high at $227,235 (£175k).
16. Austria: $231,368 (£178.2k)
In Austria, average wealth per adult hit $231,368 (£178.2k) in the past year, an increase of 5.6% compared to the previous 12-month period. Income inequality is relatively low in the country, which has a generally high standard of living.
15. Ireland: $232,952 (£179.4k)
Average wealth per adult surged by 7% over the past year in Ireland, which is enjoying stellar economic growth with everything from house prices to exports on the up. Be that as it may, the threat of a hard Brexit, which would damage the Irish economy, looms large.
14. Hong Kong: $244,672 (£188.4k)
Brimming with cash, Hong Kong has more millionaires than New York and the second highest average wealth per adult in Asia at $244,672 (£188.4k). The gap between rich and poor has climbed to record levels however, with the wealthiest family earning 44 times more than the poorest.
13. Sweden: $249,765 (£192.3k)
In contrast, Sweden is one of the most financially equal countries on the planet. Average wealth per adult was $249,765 (£192.3k) over the past year, down 5.4% compared to the previous 12-month period. This drop can be put down to the weak krona, which has fallen in value against the US dollar.
12. Netherlands: $253,205 (£195k)
Average wealth per adult rose by 5.3% over the past year, fuelled in the most part by the housing market in the country – residential real estate prices have been shooting up throughout 2017 and 2018.
11. UK: $279,048 (£214.8k)
Despite a weak pound, average wealth per adult grew by 6.4% in the UK during the past 12 months as the stock market made gains and growth predictions were upgraded. Still, uncertainty over the economic impact of Brexit reigns, and a bad deal could end up reversing the gains.
10. France: $280,580 (£216k)
Average wealth per adult increased by an even higher percentage in France, up 6.9% over the past year to hit $280,580 (£216k). The housing market as well as the wider economy has picked up of late, hence the wealth boost.
9. Singapore: $283,118 (£218k)
The richest nation in Asia, Singapore is positively rolling in money. During the past 12 months, average wealth per adult grew by 5.3%, and it's not difficult to work out why. Singaporeans are among the best savers in the world and home ownership in the city state is exceptionally high at 90.7%.
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8. Denmark: $286,712 (£220.7k)
Denmark is one of the most financially equal countries in the world, though the gap between rich and poor is growing in the Scandinavian nation, which has seen its average wealth per adult figure rise by 3.6% over the past year.
7. Canada: $288,263 (£221.9k)
Oil prices picked up in the past 12 months bolstering the Canadian economy, though they are falling again, and the Canadian dollar has slipped against the mighty US dollar, affecting the average wealth per adult figure, which has only risen by a mere 0.9%.
6. New Zealand: $289,789 (£223.1k)
The high cost of housing in New Zealand is one of the key drivers of wealth in the country, which is number six in the world in terms of average wealth per adult, though the figure has decreased compared to the previous 12-month period, largely due to currency and asset price fluctuations.
5. Norway: $291,103 (£224.1k)
Average wealth per adult is high in Norway at $291,103 (£224.1k). The Nordic nation is renowned for its income equality not to mention the famous Oil Fund, which is worth $195,000 (£150k) per Norwegian citizen.
4. Belgium: $313,045 (£241.1k)
Households in Belgium have the highest net financial wealth in the Eurozone. Average wealth per adult in the country hit $313,045 (£241.1k) over the past year, an increase of 4.3% compared to the previous 12 months.
3. USA: $403,974 (£311.1k)
America's booming economy over the past 12 months has translated to a 5.9% boost to the average wealth per adult figure. Large disparities exist in the country however, which has 47% of the world's ultra-high net worth individuals yet 39.7 million people living in poverty.
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2. Australia: $411,060 (£316.6k)
Average wealth per adult is $411,060 (£316.6k) in Australia, a drop of 2.3% compared to the previous 12-month period, which can be explained by the weak Aussie dollar. Australians are especially asset-rich with much of the nation's wealth tied up in the housing market.
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1. Switzerland: $530,244 (£408.4k)
Taking over from Iceland, which has been omitted from this year's Credit Suisse Report due to insufficient data, affluent Switzerland has the world's highest average wealth per adult, though the figure is down 3.9% compared to the previous 12 months due to the Swiss franc's depreciation against the US dollar.
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