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China, North America dominate global wealth growth in 2021, but inequality widening

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Kelly Ng

Kelly Ng

Published Tue, Sep 20, 2022 · 06:30 PM
    • NORTH America and China dominated wealth gains in 2021, with North America bringing in a little over half of the global growth in wealth and China adding another quarter.
    • NORTH America and China dominated wealth gains in 2021, with North America bringing in a little over half of the global growth in wealth and China adding another quarter. PHOTO: AFP

    NORTH America and China dominated wealth gains in 2021, with the former bringing in a little over half of the global growth in wealth and China adding another quarter.

    In contrast, Africa, Europe, India, and Latin America accounted for just 11.1 per cent of global wealth growth, according to Credit Suisse’s global wealth report released on Tuesday (Sep 20).

    As a whole, aggregate global wealth totalled US$463.6 trillion as at the end of 2021, representing a rise of 9.8 per cent, or US$41.5 trillion. Wealth per adult, globally, was up 8.4 per cent to reach US$87,489 at year-end.

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