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Credit Suisse Global Wealth Report 2021

10th July 2021 | Hong Kong

Credit Suisse has released the Global Wealth Report 2021.  The report analyzes the household wealth of 5.2 billion adult population in the world.

” 56 + million millionaires, 215,000 + UHNWs “

The number of millionaires at the end of 2020 is around 56.1 million, with United States, China and Japan having the most millionaires.  There are a total of 215,030 + UHNWs in the world, with more than $50 million.  United States, China and Germany have the most UHNWs. (UHNW ~ Ultra high net worth).




The total global wealth in 2020 is $418.34 trillion and with average global wealth of $79,952.  In 2000, 20 years ago, the total global wealth was $117.9 trillion.

Key Summary:

  • No. of Millionaires in 2020: 56.1 million
  • Most Millionaires: United States, China and Japan
  • Most Millionaires in Asia: China, Japan, Australia
  • UHNWs (> $50 million): 215,030 +
  • Most UHNWs: United States, China and Germany
  • More than $100 million: 68,010 individuals
  • More than $500 million: 5,332 individuals
  • Total Global Wealth in 2000: $117.9 trillion
  • Total Global Wealth 2020: $418.34 trillion
  • Global Average Wealth 2020: $79,952
  • Global Adult Population: 5.2 billion
  • Highest Wealth per Adult: Switzerland, United States and Hong Kong SAR
  • Switzerland Average Wealth Per Adult: $673,960
  • 1.1% of global population (56.1 m) are millionaires
  • Global millionaires own 45.8% of global wealth
  • 11.1% of global population (583 m) have $100k to $1 million, and own 39.1% of global wealth
  • 12.2% of global population owns 84.9% of global wealth
  • 639.1 million adult population representing owns $355.5 trillion of global wealth

2025 Forecast:

  • Total Global Wealth: $583 trillion (2020: $418.34 trillion)
  • No. of Millionaires: 84 million (2020: 56.1 million)
  • No. Of UHNWs: 344,000 (2020: 215,030)

Notes

  • 5.2 billion adult population (excludes children, global population estimated at 7.5 billion)
  • UHNW: Ultra high net worth with wealth of more than $50 million
  • Net worth / wealth: Net value of financial assets and real assets (housing) owned by households, less debts
  • * Asia-Pacific region excludes China and India
  • $ is US dollars, USD

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1. 2020 Global Millionaire Population

Rich 4
The World of Billionaires
Wealth Segment Population % Population
More than $50 million 215,030 0.38%
$10 million to $50 million 2.26 million 4.02%
$5 million to $10 million 4.52 million 8.10%
$1 million to $5 million 49 milion 88%
Total Adults 56.1 million 100%

 

The total number of millionaires in 2020 is around 56.1 million.  There are 215,030 UHNWs with $50 million, representing 0.38% of the 56.1 million (millionaire) population. (UHNW ~ Ultra high net worth)

49 million population have between $1 million to $5 million.  7.1 million have wealth of above $5 million.

 

2. Top 10 Countries with the Most Millionaires

New York City 1
New York City, United States
Top 10 Countries 2020 2025
1 United States 21.9 million 28 million
2 China 5.27 million 10.1 million
3 Japan 3.66 million 5.4 million
4 Germany 2.95 million 4.2 million
5 United Kingdom 2.49 million 3.7 million
6 France 2.46 million 4.2 million
7 Australia 1.80 million 3 million
8 Canada 1.68 million 2.9 million
9 Italy 1.48 million 2.0 million
10 Spain 1.14 million 1.8 million

 

The total number of millionaires in the world in 2020 is around 56.1 million.

United States has the most millionaires in the world with around 21.9 millionaires.  China has the 2nd most number of millionaires with 5.27 million.  Japan has the 3rd most number of millionaires with 3.66 million.

 

3. Top 10 Countries with the Most UHNWs

Shanghai City 2
Shanghai, China
Top 10 Countries UHNWs
1 United States 110,850
2 China 28,130
3 Germany 8,630
4 United Kingdom 5,100
5 Japan 4,670
6 India 4,320
7 France 3,750
8 Italy 3,560
9 Canada 3,510
10 Switzerland 3,300

 

The total number of UHNWs (ultra-high net worth with more than $50 million) in the world in 2020 is around 215,030.

United States has the most UHNWs in the world with around 110,850 UHNWs.  China has the 2nd most number of UHNWs with 28,130 and Germany has the 3rd most number of UHNWs with 8,630.

 

4. Most Millionaires by Country

United States
United States
Countries 2020 2025
1 United States 21.9 million 28 million
2 China 5.27 million 10.1 million
3 Japan 3.66 million 5.4 million
4 Germany 2.95 million 4.2 million
5 United Kingdom 2.49 million 3.7 million
6 France 2.46 million 4.2 million
7 Australia 1.80 million 3 million
8 Canada 1.68 million 2.9 million
9 Italy 1.48 million 2.0 million
10 Spain 1.14 million 1.8 million
11 South Korea 1.05 million 1.7 million
12 Netherlands 1.03 million 1.6 million
13 Switzerland 1.03 million 1.5 million
14 India 698,000 1.2 million
15 Taiwan (Chinese Taipei) 609,000 1 million
16 Hong Hong SAR 520,000 831,000
17 Belgium 515,000 786,000
18 Denmark 307,000 560,000
19 Sweden 570,000 809,000
20 Austria 346,000 577,000
21 Russia 269,000 455,000
22 Mexico 264,000 434,000
23 Singapore 270,000 437,000
24 Brazil 207,000 361,000
25 Poland 149,000 295,000

 

The total number of millionaires in 2020 is around 56.1 million.  There are 215,030 UHNWs with $50 million, representing 0.38% of the 56.1 million (millionaire) population. (UHNW ~ Ultra high net worth).

13 countries have more than 1 million population who are millionaires: United States, China, Japan, Germany, United Kingdom, France, Australia, Canada, Italy, Spain, South Korea, Netherlands, Switzerland.

The total number of millionaires in 2020 is expected to grow from around 56.1 million to 84 million in 2025.

 

5. Countries with the Most Millionaires in Asia-Pacific

China City 3
Shanghai Pudong City | Leading Financial Centre in Asia
Countries 2020 2025
1 China 5.27 million 10.1 million
2 Japan 3.66 million 5.4 million
3 Australia 1.80 million 3 million
4 South Korea 1.05 million 1.7 million
5 India 698,000 1.2 million
6 Taiwan (Chinese Taipei) 609,000 1 million
7 Hong Hong SAR 520,000 831,000
8 Singapore 270,000 437,000

 

In Asia-Pacific, China has the most millionaires with 5.27 million.  The top 8 countries in Asia-Pacific with the most millionaires are China, Japan, Australia, South Korea, India, Taiwan (Chinese Taipei), Hong Kong SAR and Singapore.

There are 4 countries in Asia-Pacific with more than 1 million population of millionaires: China, Japan, Australia and South Korea.

 

6. Millionaires Population by Region

European City Amsterdam
Amsterdam, Netherlands
Region 2020 2025
Asia-Pacific* 9.6 million 15.2 million
China 5.2 million 10.1 million
India 698,000 1.26 million
Europe 15.7 million 24.4 million
North America 23.6 million 31 million
Latin America 752,000 1.2 million
Africa 276,000 483,000
Total 56.1 million 84 million

 

The region North America has the most millionaires with 23.6 million.  Europe has 15.7 million millionaires while Asia-Pacific including China and India has 15.5 million millionaires.

* Asia-Pacific region excludes China and India

 

7. Global Wealth Distribution

Moncao 2
Monaco | A country known for the rich and famous, with the highest GDP in the world and every 1 in 3 is a millionaire
Wealth Segment Population Wealth
More than $1 million 1.1% of Population, 56.1 million $191.6 trillion, 45.8% of global wealth
$100k to $1 million 11.1% of Population, 583 million $163.9 trillion, 39.1% of global wealth
$10k to $100k 32.8% of Population, 1.71 billion $57.3 trillion, 13.7% of global wealth
Less than $10k 55% of Population, 2.87 billion $5.5 trilion, 1.3% of global wealth
Total 5.2 billion $418.34 trillion

 

The total global wealth in 2020 is at $418.34 trillion, with 5.2 billion adult population and average global wealth of $79,952.  In 2000, 20 years ago, the total global wealth was $117.9 trillion.

1.1% of global population (56.1 million) are millionaires, owning 45.8% of global wealth ($191.6 trillion).  11.1% of global population (583 million) have wealth of $100k to $1 million, owning 39.1% of global wealth.  639.1 million adult population representing 12.2% of global population owns 84.9% of global wealth ($355.5 trillion)

 

8. Global Wealth Distribution by Region

European City Venice
European City Venice
Wealth by Region Total Wealth % of Global Wealth YOY Change
Asia-Pacific* $75.2 trillion 11.82% 5.0%
China $74.8 trillion 17.99% 5.4%
India $12.8 trillion 17.90% -6.1%
Europe $103.2 trillion 24.67% 9.8%
North America $136.3 trillion 3.07% 9.1%
Latin America $10.8 trillion 2.60% -11.4%
Africa $49.4 trillion 32.58% -2.10%
World $418.34 trillion 100.00%

 

Asia-Pacific region including China and India has the largest wealth with $162.8 trillion.  North America region has the 2nd largest wealth with $136.3 trillion.  Europe has the 3rd largest with $103.2 trillion.

* Asia-Pacific region excludes China and India

 

9. Global Wealth Per Adult

European City Flag
European Countries
Region Wealth Per Adult
Asia-Pacific* $60,790
China $67,771
India $14,252
Europe $174,836
North America $486,930
Latin America $24,301
Africa $7,371
World $79,952

 

The global average wealth per adult is $79,952 in 2020.  North America has the highest wealth per adult with $486,930.  Europe has the 2nd highest wealth per adult with $174,836.

* Asia-Pacific region excludes China and India

 

10. Top 20 Countries – Average Wealth Per Adult

Zurich Switerland 1
Zurich, Switzerland
Countries Wealth Per Adult Change (YOY)
1 Switzerland $673,960 $70,730
2 United States $505,420 $41,870
3 Hong Kong SAR $503,340 ($26,420)
4 Australia $483,760 $65,700
5 Netherlands $377,090 $46,030
6 Denmark $376,070 $38,750
7 Belgium $351,330 $54,030
8 New Zealand $348,200 $15,150
9 Sweden $336,170 $55,460
10 Singapore $332,990 $25,460
11 Canada $332,320 $29,070
12 France $299,360 $16,770
13 United Kingdom $290,750 $20,200
14 Austria $290,350 $28,790
15 Norway $275,880 $1,630
16 Germany $268,680 $40,450
17 Ireland $266,150 $12,450
18 Japan $256,600 $17,140
19 Italy $239,240 $20,390
20 Taiwan (Chinese Taipei) $238,860 $15,270

 

In 2020, the top 3 countries with the highest wealth per adult are Switzerland with $673,690, United States with $505,420 and Hong Kong SAR with $503,340.

In Asia-Pacific, there are 5 countries with high average wealth per adult: Hong Kong SAR, Australia, New Zealand, Singapore and Taiwan (Chinese Taipei).

 

Notes

  • 5.2 billion adult population (excludes children, global population estimated at 7.5 billion)
  • UHNW: Ultra high net worth with wealth of more than $50 million
  • Net worth / wealth: Net value of financial assets and real assets (housing) owned by households, less debts
  • * Asia-Pacific region excludes China and India
  • $ is US dollars, USD

 

Anthony Shorrocks, Credit Suisse Economist and Report Author:

“The pandemic had an acute short term impact on global markets but this was largely reversed by the end of June 2020. As we noted last year, global wealth not only held steady in the face of such turmoil but in fact rapidly increased in the second half of the year. Indeed wealth creation in 2020 appears to have been completely detached from the economic woes resulting from COVID-19. If asset price increases are set aside, then global household wealth may well have fallen.

In the lower wealth bands where financial assets are less prevalent, wealth has tended to stand still, or, in many cases, regressed. Some of the underlying factors may self-correct over time. For example, interest rates will begin to rise again at some point, and this will dampen asset prices.”

 

Nannette Hechler-Fayd’herbe, Credit Suisse Chief Investment Officer for International Wealth Management and Global Head of Economics & Research:

“There is no denying actions taken by governments and central banks to organize massive income transfer programs to support the individuals and businesses most adversely affected by the pandemic, and by lowering interest rates, have successfully averted a full scale global crisis.

Although successful, these interventions have come at a great cost. Public debt relative to GDP has risen throughout the world by 20 percentage points or more in many countries. Generous payments from the public sector to households have meant that disposable household income has been relatively stable and has even risen in some countries. Coupled with restricted consumption, household saving has surged inflating household financial assets and lowering debts. The lowering of interest rates by central banks has probably had the greatest impact. It is a major reason why share prices and house prices have flourished, and these translate directly into our valuations of household wealth.”

 

The full Credit Suisse Global Wealth Report 2021 can be accessed at the webpage: The Global Wealth Report 2020 and the report can be download here.

 

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Credit Suisse Research Institute

The Credit Suisse Research Institute is Credit Suisse’s in-house think tank. The Institute was established in the aftermath of the 2008 financial crisis with the objective of studying long-term economic developments, which have – or promise to have – a global impact within and beyond the financial services.

Visit: Credit Suisse Research Institute

 


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