Switzerland retains top spot in global wealth ranking
Home to just 0.1% of the world's population, Switzerland accounts for 1.8% of the top 1% of global wealth holders
Keystone
Despite a slight decline in fortunes, the Swiss still enjoy the highest mean wealth per adult, according to the 2018 Credit Suisse Global Wealth Report.
The reportExternal link, released on Thursday, estimated the average fortune of a Swiss adult to be $530,240 (CHF527,707) compared to $537,600 the previous year. The Alpine nation still comes out on top, followed by Australia ($411,060) and the United States ($403,970).
Measured in Swiss francs, household wealth rose 39% since 2000 (129% in dollars, largely due to appreciation of the Swiss franc against the dollar). Home to just 0.1% of the world’s population, Switzerland accounts for 1.8% of the top 1% of global wealth holders. Over 60% of Swiss adults have assets worth more than $100,000. It terms of rich individuals, 11% of Swiss residents are US dollar millionaires, 2,650 qualify as ultra-high net worth individuals (over $50 million), and 980 have a net worth in excess of $100 million.
Kai Reusser / swissinfo.ch
Behind the bucks
Financial assets make up 56% of gross wealth in Switzerland, which is more than in the UK, but less than in some other well-off countries like Japan or the US. However, the Swiss have one of the highest absolute debt levels in the world at $138,810 per adult. Switzerland is also a leader among the richest countries when it comes to wealth inequality.
“Among the ten countries with long series of wealth distribution, Switzerland is alone in having seen no significant reduction in wealth inequality over any subperiod of the past century,” said the report.
This has an effect if one considers the median instead of mean wealth: Switzerland (at $183,340) is beaten to second place by Australia ($191,450).
More
More
How much do Swiss people earn in 2018?
This content was published on
Who are the biggest wage winners and losers in recent years? Statistics published by canton Zurich detail local salaries for various professions.
Various heads of state confirm participation at Ukraine peace conference
This content was published on
The presidents of Poland, Finland, and Latvia and the prime ministers of Spain and Belgium will be at the Swiss-hosted talks in mid-June.
This content was published on
In the winter season up to April 2024, railway and cable car operators ferried 3% more visitors compared to the previous winter, and 5% more than the five-year average.
Rhine flooding: Swiss to invest CHF1 billion with Austria
This content was published on
As part of an international agreement with Austria, the Swiss government wants to pump CHF1 billion ($1.1 billion) into flood protection measures along the Rhine over the next three decades.
Swiss government proposes CHF10 million UNRWA donation
This content was published on
After months of debate, Switzerland plans to give CHF10 million ($11 million) to the UN agency this year, rather than the CHF20 million initially foreseen.
Swiss study: insects mainly migrate at midday and dusk
This content was published on
A study led by the Swiss Ornithological Institute in canton Lucerne is helping to better understand the movement patterns of migratory insects.
Red Cross: 22 staff killed in Middle East since October
This content was published on
The Red Cross and Red Crescent network in Gaza and Israel has lost 22 staff members since last October, the Swiss Red Cross (SRC) said on Wednesday.
Dortmund’s Kobel is first Swiss goalie in Champions League final
This content was published on
Borussia Dortmund’s Gregor Kobel has achieved history by becoming the first Swiss goalkeeper to reach a Champion’s League final.
University students in Switzerland join Gaza protest wave
This content was published on
Pro-Palestinian activists occupied university buildings in Lausanne, Geneva and Zurich on Tuesday, widening the protest movement in the Alpine nation.
TradeXBank to resume full operations after Sberbank Switzerland taken off sanctions list
This content was published on
TradeXBank, the former Swiss branch of Russia’s Sberbank, will be able to resume its dollar-denominated activities from the second half of this year.
Geneva decides not to remove controversial memorials
This content was published on
The city of Geneva has presented an action plan regarding a series of controversial local statues and monuments of historical figures linked to racism, colonialism or slavery.
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.
Read more
More
Switzerland remains biggest offshore wealth centre
This content was published on
The stock market boom boosted personal financial wealth around the globe by 12% last year – to the benefit of Switzerland.
This content was published on
Over the past eight years, canton Geneva lost a steady stream of wealthy residents – those who pay over CHF1 million a year in tax - to more tax-friendly locations.
This content was published on
The Swiss may be the second-richest people on earth, but all that wealth comes at a price. Five hours for meals and leisure, seven hours to sleep, one hour to commute to work, eight hours on the job and three hours for housework and paperwork: the daily grind leaves little time to stand and stare. This…
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.