Wealth in Europe at record 56t euros: report

[LONDON] Private wealth across Europe reached an all-time high of 56 trillion euros (S$117 trillion) last year and is set to rise by a further 40 per cent to almost 80 trillion by 2019, research conducted by a Swiss private bank showed.

Julius Baer's inaugural Wealth Report: Europe showed that despite recent concerns about economic malaise, Europe has maintained its role as one of the wealthiest regions in the world, its authors said.

Wealth in Europe rose by 1.7 per cent last year, exceeding the previous peak recorded prior to the 2007-2009 financial crisis.