I know a lot of people are complaining about rising interest rates and a cost of living crisis, but believe it or not, Australians have earned the title of the world’s richest people for the second year running, according to the latest Credit Suisse Global Wealth Report for 2022.
Soaring property prices and increased savings lifted the median wealth per Australian adult by US$28,450 (A$42,780 equivalent) to US$273,900 in 2021, the report reveals, placing it in the top spot in the world’s ranking.
Belgium came in a close second place with a median wealth of US$267,890 per adult. New Zealand placed in third with a median wealth of US$231,260 per adult.
Fourth, fifth and sixth place was taken by Hong Kong SAR (US$202,380), Denmark (US$171,170), and Switzerland (US$168,080).
But when measured by average wealth, Australia is fourth behind Switzerland, the United States, and Hong Kong, suggesting that wealth is more evenly distributed in Australia than in those countries.
