The gap between the income of the rich and poor has been well noted globally. This, however, is more pronounced in some countries where the wealth of the average person is tremendously high.
According to the Global Wealth Report 2024 published by UBS between 2000 and 2023, the percentage of adults in the wealth band, below USD 10,000, which is classified as the lowest class, nearly halved.
The report identified the region with the highest wealth per adult in US dollar term as the Europe, Middle East, and Africa (EMEA) region at just over $166,000, followed by Asia–Pacific (APAC), with slightly over $156,000, and the Americas, with $146,000.
Top 10 countries with the highest wealth per person
Based on a 2024 report by UBS, the table below indicates the top 10 countries with the highest average wealth per person:
| Rank | Country | Average Wealth per Adult |
|---|---|---|
|
1 |
Switzerland |
$709,612 |
|
2 |
Luxembourg |
$607,524 |
|
3 |
Hong Kong SAR |
$582,000 |
|
4 |
United States |
$564,862 |
|
5 |
Australia |
$546,184 |
|
6 |
Denmark |
$448,802 |
|
7 |
New Zealand |
$408,231 |
|
8 |
Singapore |
$397,708 |
|
9 |
Norway |
$382,575 |
|
10 |
Canada |
$375,800 |
In order to obtain figures for the average wealth, a country’s total wealth is divided by the adult population. As seen from the table, a large majority of the very rich nations are small countries like Luxembourg and Singapore that have a thriving economy.
In such countries, wealth is highly concentrated within a small percentage of people e.g. Switzerland tops the list, with the average wealth per person standing at $709,600 in 2023.
The economies of the countries with a high average wealth per person enjoy significant foreign direct investment and pro-business policies. Some countries like Singapore offer tax exemptions for capital gains and dividend income.
