Australians The World’s Wealthiest

Australians now boast the highest median wealth in the world…

Despite all the glum faces, Australians have been found to boast the highest median wealth in the world.

According to the third annual Credit Suisse Global Wealth Report, the median wealth per adult in Australia is a whopping $189,552. This is the highest of all 216 countries surveyed by the big bank.

And the good news doesn’t stop there either, with Australia also boasting the highest proportion of people with wealth above $100,000 at eight times the world average.

“These are times of unprecedented economic change, and a radical reconfiguration of the world’s economic order is taking shape,” says Francesco de Ferrari, Singapore-based head of private banking for Asia Pacific at Credit Suisse.

It appears that radical reconfiguration is seriously tilted in Australia’s favour.
“Asia- Pacific, which makes up two-thirds of the world’s middle class of emerging consumers, remains the key growth engine of the world economy and global wealth.” de Ferrari says of the region.

According to the Credit Suisse report, the Euro Zone debt crisis has sucked an enormous $10.6 trillion from the value of household assets in that region. This compares to the Asia Pacific region shedding $1.4 trillion.

Globally household wealth has fallen by 5.2% since the middle of last year, but is expected to grow by almost 50% over the next five years.

This surging wealth of Australians probably means there’s no better place to be selling your small business wares.

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