The shares of the top 5 percent and top 10 percent wealth holders show a similar pattern."The share of the top 5 percent overtook its 2000 level in 2013 and now stands at 76.4 percent". And the wealth outpaced population growth to a record high of $56,540 per adult. However, due to India's large population, this translates into 4.2 million people. Issues hurting Millennials were tighter mortgage rules, growing house prices, increased income inequality and lower income mobility, all adding up to holding back wealth accumulation by young workers and savers in many countries. Similarly, Africa is highly concentrated at the bottom of the distribution: "More than 40 percent of African adults belong to the lowest two global wealth deciles". Wealth in the Asia-Pacific grew by 3 percent to $89 trillion, putting the region ahead of Europe on $80 trillion and behind the USA on $93.6 trillion.
According to the report, personal wealth in India is dominated by property and other real assets, which make up 86 per cent of estimated household assets.
Presidency celebrates Buhari's title as leader of Igbo people
The president also attended the unveiling of the statue of one of the founding fathers of Nigeria Akanu Ibiam. I want to assure you that we will deliver on our promise.
The world's richest 1% of families and individuals hold over half of global wealth, according to a new report from Credit Suisse.
It pointed to "widespread gains in equity markets", at the same time as non-financial assets like real-estate for the first time passed the level they were at when the global financial crisis struck in 2007.
The report noted fluctuations in asset prices and exchange rates account for much of the change in household wealth across regions and countries in the short run. Above that, in the $10,000 to $100,000 bracket, we have 7.2% of Indian adults. Globally, Switzerland remains the richest nation with $537,600 wealth per adult in 2017, followed by Australia ($402,600) and the United States ($388,000), the report said.