The Credit Suisse Global Wealth Report takes a global approach to an important pillar of the economic system. ?By releasing this Global Wealth Report we aim to offer the most comprehensive study of world wealth ever produced. As a premier bank with international wealth management as our core business, we are interested in the entire wealth pyramid. We need to understand the whole picture of wealth, to better understand our clients and their needs, but also to give investors a full picture that can assist in making key investment decisions?, Walter Berchtold, Chief Executive Officer of Credit Suisse?s Private Banking division, said.
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Research for the Global Wealth Report was undertaken by Professors Anthony Shorrocks and Jim Davies, recognized authorities on this topic, and architects and principal authors of ?Personal Wealth From a Global Perspective,? on behalf of the Credit Suisse Research Institute. ?The report clearly is an eminent demonstration of thought leadership. Professors Anthony Shorrocks and Jim Davies? highly rigorous approach provides a quality and depth of data that permits the report to explore multiple aspects of wealth in greater detail than ever before,? finds Giles Keating, head of Global Research in Credit Suisse?s Private Banking division.
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It for instance points out that the global wealth currently held by 4.4 billion adults has increased by 72 percent since 2000, to reach 195 trillion dollars. Driven by robust economic expansion in the emerging markets, the Credit Suisse Research Institute estimates that global wealth will grow 60 percent to 314 trillion dollars by 2015. The middle segment of the global wealth pyramid is composed of one billion individuals who are located in the fastest-growing economies of the world and hold one-sixth or 32 trillion dollars of global wealth. In total, almost 60 percent or 587 million individuals in the middle segment of the wealth pyramid are located in Asia Pacific. China stands out as the third-largest wealth generator in the world, behind only the US and Japan, and is 35 percent ahead of the wealthiest European country.
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?Credit Suisse believes that wealth provides people in the middle segment of the wealth pyramid with the financial security they need to become the world?s emerging consumers. Individuals in the middle segment are therefore expected to replace indebted US households as the global growth locomotive. This underpins Credit Suisse?s research on the topic of megatrends, notably on demographics and the multipolar world, which focus on companies that benefit from the emerging consumers investment theme. The report also provides valuable data for important top-down investment analysis and puts current market concerns about government indebtedness into context by showing that the estimated 45 trillion dollars in global government debt in mid-2010 represents only one-fifth of the 195 trillion dollars in global household wealth,? Giles Keating said.
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Research for the Global Wealth Report was undertaken by Professors Anthony Shorrocks and Jim Davies, recognized authorities on this topic, and architects and principal authors of ?Personal Wealth From a Global Perspective,? on behalf of the Credit Suisse Research Institute. ?The report clearly is an eminent demonstration of thought leadership. Professors Anthony Shorrocks and Jim Davies? highly rigorous approach provides a quality and depth of data that permits the report to explore multiple aspects of wealth in greater detail than ever before,? finds Giles Keating, head of Global Research in Credit Suisse?s Private Banking division.
A Look Through the Lens of the Wealth Pyramid
The Credit Suisse Global Wealth Report analyzes the world?s entire 200 trillion US dollars of wealth, through the lens of the wealth pyramid and sheds light on areas such as the differences in wealth across countries and regions, and how they have changed during the past decade. It also describes the pattern of wealth within countries and by gender, as well as systematic differences in household portfolios.�
It for instance points out that the global wealth currently held by 4.4 billion adults has increased by 72 percent since 2000, to reach 195 trillion dollars. Driven by robust economic expansion in the emerging markets, the Credit Suisse Research Institute estimates that global wealth will grow 60 percent to 314 trillion dollars by 2015. The middle segment of the global wealth pyramid is composed of one billion individuals who are located in the fastest-growing economies of the world and hold one-sixth or 32 trillion dollars of global wealth. In total, almost 60 percent or 587 million individuals in the middle segment of the wealth pyramid are located in Asia Pacific. China stands out as the third-largest wealth generator in the world, behind only the US and Japan, and is 35 percent ahead of the wealthiest European country.
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?Credit Suisse believes that wealth provides people in the middle segment of the wealth pyramid with the financial security they need to become the world?s emerging consumers. Individuals in the middle segment are therefore expected to replace indebted US households as the global growth locomotive. This underpins Credit Suisse?s research on the topic of megatrends, notably on demographics and the multipolar world, which focus on companies that benefit from the emerging consumers investment theme. The report also provides valuable data for important top-down investment analysis and puts current market concerns about government indebtedness into context by showing that the estimated 45 trillion dollars in global government debt in mid-2010 represents only one-fifth of the 195 trillion dollars in global household wealth,? Giles Keating said.
The Foundation of a Long Running Examination
Wealth is arguably one of the most important topics in economics. It is driving economic growth, the accumulation of capital, trends in consumption, asset prices and specific industries like health care and banking. An ongoing inclusive and global analysis of wealth and the creation of wealth is of significant strategic value to Credit Suisse and provides clear benefits to clients. For that reason, this year?s report is designated to be just the first in a whole series of reports.�
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