As Singapore’s rich continue to grow, so does the global wealth gap

SINGAPORE (Nov 23): Adverse currency movements have caused wealth to decline in every region except Asia Pacific (APAC) – the only instance which bucks the trend of limited growth in global wealth since 2013, according to the Credit Suisse Research Institute (CSRI) in its seventh annual Global Wealth Report.

Total global wealth in 2016 edged upwards by 1.4% or some US$256 trillion ($364.3 trillion), which is in line with the rate of world adult population growth.

UK was among the hardest hit with a significant drop in wealth of US$1.5 trillion following the Brexit vote, which triggered a sharp decline in exchange rates and the stock market.

---

Related Stories

• Global M&A activity grew by 23% y-o-y to US$1.3 trillion in first five months of 2024: LSEG
• Briefs: Trump clinches Republican nod; MAS survey forecasts 2024 GDP growth at 2.4%
• 'Feliz año nuevo Chino' from Spain

---