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
1. 2020 Global Millionaire Population
| 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
| 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
| 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
| 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
| 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
| 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
| 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
| 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
| 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
| 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.
Credit Suisse Research Institute
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