EconomyWorld wealth: the United States and China contributed more...

World wealth: the United States and China contributed more than other countries, where is Latin America?

Despite the high levels of inflation that have been recorded worldwide, global wealth amounted to 463.6 trillion dollars in 2021 , a growth of 9.8%.

According to the Global Wealth Report , prepared by Credit Suisse, world wealth increased by 41.5 trillion dollars. However, factors such as inflation, rising interest rates and the downward trend in asset prices could reverse last year’s impressive growth in 2022.

The countries that have contributed the most to world wealth are the United States, with more than half of global wealth, and China, with a quarter.

In both countries, those who increased their wealth the most between 2019 and 2022 were millennials and generation X. By country, the United States was the country whose households increased their wealth the most in 2021, followed by China, Canada, India and Australia.

Africa, Europe, India and Latin America together accounted for just 11.1% of the growth in global wealth. This low figure is due to the generalized depreciation of these regions against the US dollar.

Wealth forecasts in times of inflation

The Credit Suisse report highlights that given the war between Russia and Ukraine and global inflation, the creation of wealth could be reduced.

By 2026, wealth is estimated to increase by $169 trillion, an increase of 36%.

Although low- and middle-income countries currently account for 24% of wealth, they will be responsible for 42% of its growth over the next five years.

Mexico loses millionaires between 2020 and 2021

The pandemic affected the measurement of the richest people globally and Mexico reduced the number of millionaires, according to Credit Suisse's Global Wealth Report.

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Peter Kern, CEO of travel portal Expedia, earned a $296 million revenue package in 2021.