Mubasher: Individual wealth surged 6.4% in a year, recording its highest annual increase since 2012, with Egypt leading the top losers due to the local currency flotation.
Global wealth increased by 27% in the last decade to a total $280 trillion, according to a recent report by Credit Suisse.
The growth in wealth outpaced the rise in production, resulting in a new level of $56,540 per person.
As shown by the report, the United States continued to dominate wealth, registering noticeable gains compared to 2009, after the Financial Crisis.
The wealthiest Americans added around $8.5 trillion to their net worth, accounting for more than half of the gains generated in the last 12 months.
In Europe, wealth increased by 6.4% year-on-year, supported by a stable economic recovery.
Although Germany, France, Italy, and Spain led the growth in wealth, Poland came in first in terms of the percentage of total gains by 18%, on the back of the stock market gains.
Meanwhile, China saw an increase in wealth by $1.7 trillion, coming in second place after the US.
On the other hand, few countries saw a decrease in wealth in the 12-month period, with only two countries losing more than $100 billion.
Japanese families lost around $1.6 trillion, while Egyptians lost around $172 billion, as the report showed, meaning that Egypt topped the world in the decline in wealth, with a 49% drop in a year.
