GENEVA: The total world wealth has increased by 8.3pc to $263 trillion during the one year as distribution of wealth has become gradually unequal.
According to Credit Suisse report, the total domestic wealth has more than doubled since the beginning of the millennium, when it stood at just $117 trillion. The study, which comprises the wealth holdings of 4.7 billion adults across more than 200 countries, showed that global wealth is expected to balloon by another 40 percent to $369 trillion during the next five years. Today, each adult in the world has an average of $56,000 – an all-time high for average net worth, the report added.
The study said most of the rise in wealth over the past year can be credited to North America, which accounts for 34.7 percent of global household wealth, and Europe, which accounts for 32.4 percent.
