Global wealth expanding, despite challenges: Credit Suisse report

Singapore

GLOBAL wealth continues to rise, says the Credit Suisse Research Institute's Global Wealth Report 2019, despite the risks posed by the ongoing trade war and other geopolitical tensions.

Global wealth rose 2.6 per cent to US$360 trillion in 12 months to mid-2019, contributed mainly by the United States (US$3.8 trillion), China (US$1.9 trillion) and Europe (US$1.1 trillion).

Wealth in Singapore grew strongly by 4 per cent to around US$1.4 trillion. Singapore's wealth per adult of US$297,870 puts it among the economies with the highest wealth per adult. T…