Forecasts for 2023 show that across the EU, the median wealth per adult is on the rise. However, it is still unclear if the distribution of wealth will become more balanced in the future. Germany tops the ranking of EU countries with the highest number of millionaires holding more than $50 mln of wealth.
The Credit Suisse Research Institute published its ninth edition of the Global Wealth Report. The document provides up-to-date information on global household wealth, as much as insights into the potential dynamics of wealth growth until 2023. The Global Wealth Report databook defines net worth as “the marketable value of financial assets plus non-financial assets (principally housing and land) less debt”.
We scraped the data provided by Credit Suisse to take a look exclusively at some facets of the evolution of wealth across EU countries*, such as:
- The forecasted development of the median wealth per adult across the EU between 2017 and 2023
- The projection of the number of millionaires in EU countries with wealth, respectively, higher than $1 mln and $50 mln
- The evolution of the difference between the average and median wealth per adult in EU countries between 2017 and 2023
In the first two charts, we provide an insight into the “world of millionaires” across the EU. We follow the distinction offered by the report, which splits this wealthy group into two groups, at a threshold of $50 mln of individual net worth. For the sake of readability, we clustered the countries into three groups, respectively occupying the front, middle and end of the ranking (based on starting positions, in 2017).
Focusing on the front runners of this particular “league”, the forecast for 2023 shows that Germany tops the ranking concerning the absolute number of millionaires holding more than $50 mln of wealth in assets, followed by the UK and Italy. The evolution of the middle-positioned countries highlights the ascending of two Eastern countries, namely Poland and the Czech Republic.