Credit Suisse group, a Swiss multinational financial services holding company in Zürich, Switzerland recently conducted an annual global wealth report showing the richest and poorest countries in the world.
The report revealed that in mid-2016, the slowdown of the global economy and the likelihood of interest rate rises were dampening the future prospects for household wealth worldwide.
Nigeria came third among the poorest countries in the world with 35 million Nigerians classified among the poorest people in the world while India tops the list with 246 million people.
Also the report states that in recent years, there has been a growing sense that the economic recovery is shallow, and has not reached all layers of society. It stated that the global wealth database supports this view.
While exchange rate movements sometimes obscure trends, wealth per adult and median wealth have grown well below their potential during the last nine years, compounding fears that we are in the midst of a lost decade for global wealth growth.
Other countries contributing significantly to the bottom wealth bracket are Russia with 28 million of the world’s poorest, Ukraine with 25 million and the United States with 21 million.
Meanwhile, with an average net worth of 500,000 dollars per adult, the wealthiest country in the world is Switzerland, the Swiss are the world’s richest people, 11 times wealthier than the average world citizen.
The people of Switzerland make up only 0.1 per cent of the global population, but they own 1.4 per cent of the world’s assets.