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.
Is your place of origin, your Heimatort, important to you?
Every Swiss citizen has a Heimatort, a place of origin, but many have never visited theirs. What’s your relationship with your Heimatort? What does it mean to you?
What factors should be taken into account when inheriting Swiss citizenship abroad?
Should there be a limit to the passing on of Swiss citizenship? Or is the current practice too strict and it should still be possible to register after the age of 25?
Major road disruptions continue after heavy snowfall in parts of Switzerland
This content was published on
The snowfall has ended in the southern Swiss canton of Valais, the cantonal emergency services said on Friday. Several roads, however, remain closed.
Swiss businessman gets prison term for asbestos deaths
This content was published on
Stephan Schmidheiny has been sentenced to 9 years and 6 months in prison by the Turin Court of Appeal in a case against the former Eternit executive over deaths linked to asbestos exposure in Italy.
This content was published on
Swiss imports and exports reached new heights in the first quarter, driven by the chemicals and pharmaceuticals sectors. Shipments to the US rose sharply.
Italian in Switzerland accused of being Calabrian mafia henchman
This content was published on
The Office of the Attorney General of Switzerland has charged an Italian resident of the Anello-Fruci 'Ndrangheta clan in the canton of Aargau.
Swiss CFOs have a pessimistic outlook due to trade wars
This content was published on
In the wake of the trade wars launched by US President Donald Trump, Swiss companies are assessing the future much more pessimistically.
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.