According to the Global Wealth Report 2011 by Credit Suisse, Australians are the wealthiest people in the world, with second place going to Switzerland.  The report compared the median (the mid-point between the wealthiest and poorest in a nation) wealth of adults worldwide and found that Australia’s median wealth is around $215,000 AUD  (about $220,000 USD).  This figure indicates that the average Australian adult is more than four times wealthier than the average American, whose average wealth is around $57,000 AUD ($53,000 USD), and around eight times the world average.  Over the past 10 years, wealth per Australian adult has quadrupled bringing Australia’s estimated total wealth to around $6.4 trillion USD.

 

The report also found that wealth in Australia is more evenly distributed than in other nations.  The wealthiest 10% of Australians have just under half of the wealth which sounds disproportionate but not as much as when you compare this figure to that of the US where the top 10% have 73% of the wealth.

The reasons for the results have been largely attributed to high levels of property ownership, a strong labour market (we have an enviable unemployment rate of around 5.00%), and the robustness of the Australian dollar.  Even with the appreciation in the Australian dollar taken into account however, wealth has still doubled over the past decade.

For more information, refer to the Credit Suisse Global Wealth Report 2011

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One Response to “Australians the wealthiest in the world”

  1. Wesley Edgar December 23, 2011 at 10:57 am #

    Incredible stats. Either there are a lot of very poor people around the world (undoubtedly), or we don’t know how good we’ve got it here (probably).

    While we, as a country, are enjoying the benefits of the mining boom and low unemployment I just pray that the government and corporate leaders invest this windfall well because it won’t last forever.

    At an individual level we should also be investing by using the likes of your firm. Seems like there’s no shortage of money to do that with!