The Chart of the Week comes from the Visual Capitalist website and shows the top 10 wealthiest countries in the world based on private wealth. According to market research company New World Wealth, the world accumulated $215 trillion in private wealth. Surprisingly the majority of about 73.5% of all wealth is held by just 10 countries.
What is interesting however, is that most of this wealth is concentrated in the US which accounts for $62.6 trillion and in China which accounts for $24.8 trillion. Japan comes in at third position with total wealth of $19.5 trillion and the UK in fourth position with $9.9 trillion. In ninth spot is Australia with total wealth of around $6.1 trillion just above Italy.
Whilst the US having the most wealth is no surprise, what is interesting is that China and India have more than doubled their wealth over the last ten years. Italy and France have lost wealth moving backwards on the scale.
By the year 2027, the US will still remain the top dog, but only by a whisker. It will have $75.1 trillion in wealth marginally behind China with $69.4 trillion. That’s a 180% increase in wealth in China driven by strong growth in domestic tech, financial services, entertainment and healthcare. It will also be boosted by an influx of lower class migrating to middle class.
Australia will move two spots higher and have a wealth only just below Germany, $10.4 trillion. It will be in seventh position despite only having a small population of 24 million people. That’s a 70% increase from now.
India will grow the most. It will take out fourth position with a projected wealth of $24.7 trillion which is a massive 200% increase from now. That will be driven by a construction boom and migration of lower to middle class citizens.