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Yahoo
2 days ago
- Business
- Yahoo
Global personal wealth: Which countries have the highest shares in Europe?
Did you know EU countries hold only 16.6% of the world's personal wealth? In Europe, this rises to 22.3% when four more countries are included. The US holds more than a third, and China about a fifth. Together, these two powers control 54% of world's wealth according to UBS's Global Wealth Report 2025. The UBS report covers 56 countries and markets, representing over 92% of global wealth. But which European countries hold the largest shares of the world's personal wealth? And what is the total personal wealth of each country? Euronews Business takes a deep dive. Where in Europe holds the largest share of the world's personal wealth? According to the report, global personal wealth reached $471 trillion (€435 trillion) by the end of 2024. The US holds the largest share at 34.7% (€150.9 trillion), followed by China with 19.4% (€84.2 trillion). Japan ranks third with 4.5% (€19.7 trillion). Europe—including the EU, UK, Switzerland, Norway, and Turkey—holds 22.3% of global personal wealth. In Europe, the UK holds the highest share of global personal wealth at 3.84%, closely followed by Germany at 3.76%. France is not far behind with a 3.3% share. Italy (2.25%) and Spain (1.95%) complete the top five in Europe. Not surprisingly, Europe's five largest economies take the top five spots on this list. Related Educated but still unemployed: How does unemployment vary among university graduates across Europe? No holiday for 42 million EU workers: Where is holiday the most unaffordable in Europe? China larger than Europe's top five combined The combined share of Europe's top five economies (15.1%)—France, Germany, Italy, Spain and UK—is still significantly behind China's share of global personal wealth (19.4%). The Netherlands (1.14%) and Switzerland (1.04%) each hold shares above 1%. The global wealth shares of other European countries are far below this threshold. Nineteen out of 31 countries have shares of less than 0.4%. For several countries, the global wealth share is below 0.1%. They included Luxembourg, Bulgaria, Slovakia, Slovenia, Lithuania, Latvia, Cyprus, Estonia and Malta. In nominal terms, the UK holds €16.7 trillion in personal wealth, followed by Germany (€16.4 trillion) and France (€14.3 trillion). No other European country exceeds the €10 trillion mark. Country totals, not wealth per person It is important to note that these figures show total wealth and national shares. They do not indicate which countries are richer or wealthier at the individual level. Wealth per adult is the measure used for that comparison. In general, countries with higher gross domestic product (GDP) tend to have larger shares of global personal wealth, as shown by the top five European economies. While GDP levels vary greatly, this pattern also applies to several other countries. As for why the US and China hold more than half of global wealth, the report notes: 'A combination of high wealth per adult and a large population makes the US stand out by holding almost 35% of the entire wealth measured in USD. Mainland China, thanks to its large population, holds almost 20% of personal wealth.' Related UK job vacancies fall at a slower pace while wage growth holds steady German economic sentiment tumbles as EU–US trade deal underwhelms Wealth rises in Eastern Europe, declines in the west The overall global increase was faster than the previous year, rising from 4.2% to 4.6% in USD terms. But global wealth growth was uneven, as the total hides clear differences between regions. Eastern Europe recorded the largest jump in total personal wealth in 2024—over 12% increased compared with 2023, slightly ahead of North America. It added 28,000 new millionaires, a 2.9% increase, making the region a strong engine of growth. Total personal wealth in Greater China grew by 3.4% from 2023 to 2024, outpacing Southeast Asia's 2.7%. The Middle East & Africa rose 4.2%, making it the only other region with positive growth. Western Europe and Oceania (both -1.5%) and Latin America (-4.3%) all saw declines, after adjusting for population size. What is personal wealth? Wealth or net worth is defined as the value of financial assets and real assets (principally housing) owned by private individuals, less their debts according to the report. Private pension fund assets are included, but not entitlements to state pensions. Wealth per adult rose in most European countries between 2023 and 2024, though a few saw declines. The Euronews article 'Where in Europe did people's net worth increase the most?' shows how this changed at the personal level. Meanwhile, the richest 10% in the eurozone held 57.3% of total net household wealth in the final quarter of 2024, you can read more on how wealth inequality varies widely across Europe here.
Yahoo
7 days ago
- Business
- Yahoo
Global personal wealth: Which countries have the highest shares in Europe?
Did you know EU countries hold only 16.6% of the world's personal wealth? In Europe, this rises to 22.3% when four more countries are included. The US holds more than a third, and China about a fifth. Together, these two powers control 54% of world's wealth according to UBS's Global Wealth Report 2025. The UBS report covers 56 countries and markets, representing over 92% of global wealth. But which European countries hold the largest shares of the world's personal wealth? And what is the total personal wealth of each country? Euronews Business takes a deep dive. Where in Europe holds the largest share of the world's personal wealth? According to the report, global personal wealth reached $471 trillion (€435 trillion) by the end of 2024. The US holds the largest share at 34.7% (€150.9 trillion), followed by China with 19.4% (€84.2 trillion). Japan ranks third with 4.5% (€19.7 trillion). Europe—including the EU, UK, Switzerland, Norway, and Turkey—holds 22.3% of global personal wealth. In Europe, the UK holds the highest share of global personal wealth at 3.84%, closely followed by Germany at 3.76%. France is not far behind with a 3.3% share. Italy (2.25%) and Spain (1.95%) complete the top five in Europe. Not surprisingly, Europe's five largest economies take the top five spots on this list. Related Educated but still unemployed: How does unemployment vary among university graduates across Europe? No holiday for 42 million EU workers: Where is holiday the most unaffordable in Europe? China larger than Europe's top five combined The combined share of Europe's top five economies (15.1%)—France, Germany, Italy, Spain and UK—is still significantly behind China's share of global personal wealth (19.4%). The Netherlands (1.14%) and Switzerland (1.04%) each hold shares above 1%. The global wealth shares of other European countries are far below this threshold. Nineteen out of 31 countries have shares of less than 0.4%. For several countries, the global wealth share is below 0.1%. They included Luxembourg, Bulgaria, Slovakia, Slovenia, Lithuania, Latvia, Cyprus, Estonia and Malta. In nominal terms, the UK holds €16.7 trillion in personal wealth, followed by Germany (€16.4 trillion) and France (€14.3 trillion). No other European country exceeds the €10 trillion mark. Country totals, not wealth per person It is important to note that these figures show total wealth and national shares. They do not indicate which countries are richer or wealthier at the individual level. Wealth per adult is the measure used for that comparison. In general, countries with higher gross domestic product (GDP) tend to have larger shares of global personal wealth, as shown by the top five European economies. While GDP levels vary greatly, this pattern also applies to several other countries. As for why the US and China hold more than half of global wealth, the report notes: 'A combination of high wealth per adult and a large population makes the US stand out by holding almost 35% of the entire wealth measured in USD. Mainland China, thanks to its large population, holds almost 20% of personal wealth.' Related UK job vacancies fall at a slower pace while wage growth holds steady German economic sentiment tumbles as EU–US trade deal underwhelms Wealth rises in Eastern Europe, declines in the west The overall global increase was faster than the previous year, rising from 4.2% to 4.6% in USD terms. But global wealth growth was uneven, as the total hides clear differences between regions. Eastern Europe recorded the largest jump in total personal wealth in 2024—over 12% increased compared with 2023, slightly ahead of North America. It added 28,000 new millionaires, a 2.9% increase, making the region a strong engine of growth. Total personal wealth in Greater China grew by 3.4% from 2023 to 2024, outpacing Southeast Asia's 2.7%. The Middle East & Africa rose 4.2%, making it the only other region with positive growth. Western Europe and Oceania (both -1.5%) and Latin America (-4.3%) all saw declines, after adjusting for population size. What is personal wealth? Wealth or net worth is defined as the value of financial assets and real assets (principally housing) owned by private individuals, less their debts according to the report. Private pension fund assets are included, but not entitlements to state pensions. Wealth per adult rose in most European countries between 2023 and 2024, though a few saw declines. The Euronews article 'Where in Europe did people's net worth increase the most?' shows how this changed at the personal level. Meanwhile, the richest 10% in the eurozone held 57.3% of total net household wealth in the final quarter of 2024, you can read more on how wealth inequality varies widely across Europe here. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The National
18-06-2025
- Business
- The National
Global personal wealth grows 4.6% on stable US dollar and buoyant financial markets
Global personal wealth grew 4.6 per cent in 2024, after a 4.2 per cent increase in 2023. However, the speed of growth was not uniform, with the expansion in wealth largely tilted towards Eastern Europe and North America, according to a new report by Swiss banking group UBS. Eastern Europe achieved the highest regional growth in total personal wealth in 2024 at over 12 per cent, closely followed by the US with more than 11 per cent. A stable US dollar and buoyant financial markets were key contributors to this growth, UBS's Global Wealth Report 2025 said. Asia-Pacific (Apac) and Europe, the Middle East and Africa (EMEA) lagged behind, with growth rates of below 3 per cent and less than 0.5 per cent, respectively. The US and China jointly accounted for more than half of the entire personal wealth globally, according to the report, which analysed 56 markets representing more than 92 per cent of the world's wealth in 2024. 'Individual annual blips aside, there has been a marked and consistent increase in personal wealth around the world, since the start of the millennium, both overall and in each major region,' the report said. ' Wealth is increasing steadily even after adjusting for inflation, i.e. in real terms. Overall, total wealth net of debt and net of inflation has risen at a compound annual growth rate of 3.4 per cent since 2000. 'Over the next five years, our projections for average wealth per adult point to continued growth. This expansion will be led by the US as well as Greater China.' The UAE has rapidly become a hub for the wealthy thanks to its strong economic growth and policy reforms. Dubai and Abu Dhabi lead the top five preferred global locations for high-net-worth people looking to relocate, driven by personal tax incentives and a good quality of life, global property consultancy Savills said in an April report. The number of millionaires living in Dubai has doubled in the past decade, making it one of the world's fastest-growing wealth hubs, according to World's Wealthiest Cities Report 2025 by New World Wealth for Henley & Partners, released in April. The world added over 680,000 new US dollar millionaires in 2024, an uptick of 1.2 per cent, the UBS report said. The US accounted for almost 40 per cent of global millionaires and added 379,000 new millionaires last year, more than 1,000 a day. In contrast, China added 380 new millionaires per day. Watch: Dubai's millionaires double as London drops down wealth list UBS projected that an additional 5.34 million people would join the ranks of the world's USD millionaires by 2029. In 2024, Turkey recorded an 8.4 per cent increase in its number of USD millionaires over 2023, equivalent to a boost of roughly 7,000 people in a single year. The UAE was in second place with a rise of 5.8 per cent in millionaire numbers over the course of last year, thanks to approximately 13,000 new entrants in this category, the study found. In the Middle East, Saudi Arabia leads the millionaire ranking with almost 340,000 millionaires, followed by the UAE with 240,000 and Israel with 186,000, according to UBS. Both Saudi Arabia and the UAE have witnessed strong growth in wealth per adult since the beginning of the decade, measured in local currency net of inflation, the report said. Nearly 62 per cent of gross wealth is allocated to financial assets in the UAE, and almost 58 per cent in Saudi Arabia, while non-financial assets such as real estate and land account for roughly 48 per cent of wealth in both countries, according to UBS. 'Everyday millionaires [those with investable assets between $1 million and $5 million] have more than quadrupled since 2000, reaching around 52 million globally by the end of last year,' the report said. 'This group now accounts for approximately $107 trillion of total wealth. The growth of this segment has largely been driven by rising real estate prices and exchange rate effects.' Meanwhile, the report found that adults in North America were the wealthiest on average ($593,347) in 2024, followed by Oceania ($496,696) and Western Europe ($287,688). However, Switzerland continued to top the list for average wealth per adult on an individual market level, followed by the US, Hong Kong and Luxembourg. Denmark, South Korea, Sweden, Ireland, Poland and Croatia recorded the biggest increases in average wealth, all growing at double-digit rates (when measured in local currencies), the research showed. UBS also estimated that more than $83 trillion is expected to be transferred over the next 20 to 25 years, with $9 trillion moving horizontally (between spouses) and $74 trillion moving between generations. The largest volume of wealth transfer is anticipated in the US at over $29 trillion. "We expect to see a volume of wealth transfers of the inter-generational and intra-generational type of $103 billion in Saudi Arabia and $19 billion in the UAE, equivalent to respectively 4.6 per cent and 1.4 per cent of the country's entire private wealth," the report said.
