Global wealth rose 10.6% last year to reach a record high of $530 trillion in 2021 and is set to continue rising in all regions despite inflationary pressures and Russia’s invasion of Ukraine. Strong equity markets and a surge in demand for real assets such as property, wine and art drove the increase, according to a report by Boston Consulting Group. About $80 trillion of new wealth is likely to be created over the next five years.
Asia-Pacific is expected to maintain the fastest rate of wealth growth, with asset values poised to increase by a compound annual growth rate of 8.4% through 2026. If that rate holds, the region could then host nearly one-quarter of the world’s wealth. That could see Hong Kong overtake Switzerland next year as the jurisdiction managing the “largest amount of private cross-border wealth,” the report said. North American wealth growth will slow to 4.
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