It’s no secret that the United States is the wealthiest country on the planet. Its per-capita income is lower than that of a few other countries such as Luxembourg and Switzerland. But when it comes to the amount of wealth held within its borders, no country comes close to the United States. Here we take a look at the top ten countries with the most wealth as of 2019.
So, what is wealth of a nation? According to Credit Suisse Research Institute, it’s the sum of all assets minus debts. It includes the assets held by individuals, households, businesses, as well as by the governments.
Ranked: Countries with the most wealth
As per the 2019 Global Wealth Report by Credit Suisse, the world’s total wealth stands at $360.6 trillion, up $9.1 trillion from 2018. Even though hundreds of millions of people are dying of hunger in poor countries, the worldwide average wealth per adult is $70,850. Global wealth is projected to grow 27% over the next five years to $459 trillion by 2024.
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According to the Credit Suisse report, there are approximately 47 million millionaires worldwide. They account for less than 0.9% of the world’s adult population. But they own $158.3 trillion, which is about 44% of the global wealth. In contrast, the bottom 57% of the world’s adult population (2.88 billion people) own merely 1.8% of the wealth (just $6.3 trillion).
These are the top 10 countries with the most wealth, according to Credit Suisse’s 2019 Global Wealth Report.
10- Spain, $7.77 trillion
The European nation accounts for 2.2% of the world’s total wealth. Spain has an estimated population of 47 million and per-capita income of $43,007. On average, every adult in Spain carries a debt of $23,858. That’s much smaller than the average wealth of $207,531 per adult.
9- Canada, $8.57 trillion
Canada is one of the wealthiest countries in the world. According to Credit Suisse, the North American nation has a total wealth of $8.57 trillion, which works out to $294,255 per adult. Canada’s average debt per adult is $59,552. It is also one of the world’s least corrupt countries.
8- Italy, $11.35 trillion
The Italian economy has been struggling for the last several years, but it remains among the world’s wealthiest nations. The average wealth per adult is $234,139 and the average debt per adult is $22,214. The country is home to more than 1.4 million millionaires.
7- India, $12.6 trillion
India is a developing country with per-capita GDP of $2,172. According to Credit Suisse, the country accounts for 17% of the world’s adult population and 3.5% of global wealth. India has $14,569 of wealth per adult. The average debt per adult is also pretty low at $1,346.
6- France, $13.72 trillion
France is home to some of the world’s largest corporations and wealthiest individuals. According to Forbes, France has 47 billionaires. As of 2019, the European nation has total wealth of $13.72 trillion, which works out to $276,121 per adult. On average, each French adult individual carries a debt of $38,814.
5- United Kingdom, $14.34 trillion
The United Kingdom has per-adult wealth of $280,049 and $50,374 in per-adult debt. Only 1% of the world’s adult population calls the UK their home. But the country owns 4% of global wealth. Last month, the UK officially withdrew from the European Union.
4- Germany, $14.66 trillion
Germany is the most resilient economy in Europe. According to the Credit Suisse report, Germany has 4.1% of the world’s $360.6 trillion wealth. Its average wealth per adult is $216,654 while the average debt is $30,765 per adult. Germany is home to 115 billionaires.
3- Japan, $25 trillion
The Japanese economy has been struggling with low growth and deflation for the last several years. Its working-age population is also declining, which reduces the number of people in the workforce. But the Asian nation is also home to many corporate giants such as Sony, Toyota, Honda, and others. Japan’s average wealth is $238,104 and average debt is $29,102 per adult.
2- China, $63.82 trillion
The world’s most populous country is home to 21.4% of adults on the planet. China has 17.7% of global wealth, according to Credit Suisse. Its average wealth per adult is $58,544 and the average debt is $4,409 per adult. Despite becoming the world’s largest economy, China continues to grow at a healthy rate. According to the Global Wealth Migration Review 2019, China’s household wealth will grow 120% to $51.83 trillion by 2028.
Together, China and the US own nearly half of the world’s total wealth.
1- United States, $105.99 trillion
The United States has 29.4% of the global wealth, far more than any other country on the planet. It has more billionaires than other countries. It also has about 18 million millionaires. According to Credit Suisse, America’s average wealth per adult is $432,365. Its average debt is also relatively higher than other countries at $62,610 per adult.