If he lived in these countries, he would probably have noticed that his wealth increased the coronavirus pandemic, a new study says.
Adults in the Philippines, Egypt and Bangladesh saw the highest wealth of about 10%, according to a Credit Suisse report released on Thursday, October 22.
Fourth, adults in the Netherlands added about $15,000 to their wealth in the first part of 2020, but China, fifth, is the wonderful success.
“China is one of the winners and wealth in line with adults has accumulated and we hope this will continue,” says Nannette Hechler-Fayd’herbe, Director of Investment at International Wealth Management at Credit Suisse. is $74621, an accumulation of 5. 5% since January, when the country in the Wuhan quarantine procedure.
Today, Wuhan is booming with factories reopening and customer purchases. Earlier this week, China announced that its economy grew by 4. 9% in the third quarter of this year, while the rest of the primary economies were in recession.
“China is able to absorb the pandemic without blinking,” says Anthony Shorrocks, a professor at the University of Manchester and one of the authors of the Credit Suisse Global Wealth Report.
While adults, Switzerland, Taiwan and the Netherlands have experienced the largest genuine expansion of their wealth, this is mainly due to currency fluctuations, Shorrocks says. The strength of the Swiss franc helped its citizens accumulate their wealth through an average of $20,000 to $598,410 relative to the user at the end of June, more than in any other country, and some Swiss are asking their government more.
Overall, the Swiss bank says there is about $400 trillion worth of wealth value in the world, which equates to about 77,309 for adults, an average that is inevitably sessed among 1% of the rich.
Earlier this month, Credit Suisse’s main rival, UBS, discovered that the billionaires’ wealth had crossed the $10 trillion threshold for the first time.
Despite this disparity, Credit Suisse says it has not noticed “any tangible evidence” that inequality is expanding within countries.
In the United States, which is the third largest family wealth after Switzerland and Hong Kong, adults earn an average of $463550.
“In fact, inequality measures have declined in the United States,” says Hechler-Fayd’herbe. “In the United States, adult-consistent wealth is likely to continue to decline than in early 2020. “
Inequality, however, persists globally. Latin America experienced the biggest drop in wealth: the average adult in Brazil lost up to 25%. This largely followed those of South Africa and Mexico.
But it’s the UK that’s the case with the wonder basket. “Among the evolved countries, he has in fact been one of the most affected,” says Hechler-Fayd’herbe. “The reasons are that monetary assets in the UK have not been able to recover. “
A third of UK households have noticed a drop in income since February, according to Figures on Thursday (22 October) through the Financial Conduct Authority (FCA). Young adults and blacks, Asians and ethnic minorities were the most affected.
This is the case for other evolved countries, says Credit Suisse: “In the United States, for example, infection and hospitalization rates for key minorities were much higher than for the white population. Job losses are also higher than for the white population. “[Minority] teams have suffered even more. “
Millennials also suffered a loss of income. Worse, Credit Suisse says he may be expecting a “double blow” from Covid-19 because “economic activity is reduced, globalization is reversed and discouraged. “
I am writing about the plight of Europe’s wealth amid the political ups and downs of the continent.
I write about the fortunes of Europe’s wealth amid the political ups and downs of the continent. I watch the billionaires and where their money ends: charities and philanthropic efforts of the rich; The music and arts they support; clubs and hobbies that accumulate. I have more than ten years of experience advising governments, companies and charities on the subject and I write for other newspapers and magazines. You can follow me on Twitter @ollieawilliams or email me at ow [at] oliverwilliams . yo