Factor in the effect of a rebounding US dollar and asset values actually declined 1.6 per cent last year, wiping out any gain, said Anna Zakrzewski, global leader of BCG's wealth-management practice.[NEW YORK] Gains in global personal wealth ground to a near-halt in 2018, rising just 1.6 per cent for the weakest growth in five years.
"For the first time since 2008, we saw wealth growth was negative when you take into account all the factors," she said.Still, the amount of personal financial wealth sloshing around the world remains enormous: US$206 trillion, according to BCG's tally.Although overall growth was down, some regions did well. Increases ranged from 8.9 per cent and 7.1 per cent for Africa and Asia, respectively, to anemic gains of 0.6 per cent for Western Europe and 0.4 per cent for North America.
From 2019 through 2023 wealth worldwide will grow at a compound annual rate of 5.7 per cent, according to BCG. Asia, however, is expected to see wealth rise by a compound annual growth rate of 9.4 per cent to US$58.2 trillion by 2023.
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