Global Wealth Plummets in First Decline Since 2008, but Future Outlook Appears Promising
Global wealth experienced its first decline since the 2008 financial crisis, with total private wealth falling by 2.4% to $454.4 trillion and wealth per adult dropping by 3.6% to $84,718 in 2022. The decline was primarily attributed to the appreciation of the U.S. dollar against other currencies, and wealth losses were concentrated in wealthier regions such as North America and Europe. Financial assets contributed most to the decline, while non-financial assets like real estate remained resilient. However, the report predicts a surge in global wealth by 38% over the next five years.