The typical wealth owned by Israeli adults shrank by $24,000 in 2022 to $235,000, in keeping with the most recent World Wealth Report compiled by Swiss banks Credit score Suisse and UBS, launched immediately (UBS purchased Credit score Suisse in June this 12 months after its collapse).
The decline is just not solely in absolute phrases, but additionally relative: in 2021, Israel was in sixteenth place worldwide for common wealth, however fell to nineteenth place in 2022. Within the median wealth rankings, Israel was not within the high twenty.
The report finds that world non-public wealth shrank in 2022 for the primary time for the reason that monetary disaster of 2008, falling 2.4% to $454.4 trillion, though it states that “A lot of this decline comes from the appreciation of the US greenback in opposition to many different currencies,” and that “If alternate charges have been held fixed at 2021 charges, then whole wealth would have elevated by 3.4% and wealth per grownup by 2.2% throughout 2022.”
Though the report doesn’t specify causes for the decline in wealth in Israel, it will seem that the weakening of the shekel in opposition to the US greenback performed a big half.
The report states that “When it comes to wealth per grownup, Switzerland continues to high the record adopted by the USA, Hong Kong SAR, Australia and Denmark regardless of sizeable reductions in imply wealth versus 2021.”
Seeking to the long run, the Swiss banks estimate that “world wealth will rise by 38% over the following 5 years, reaching USD 629 trillion by 2027,” which will likely be $110,270 per grownup.
Printed by Globes, Israel enterprise information – en.globes.co.il – on August 16, 2023.
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