World wealth to grow 50 per cent in 5 years –C. Suisse
A Credit Suisse report has noted that global wealth could rise 50 percent to three hundred and forty five trillion dollars over the next five years, spurred by a near doubling of total household wealth in China and strong growth in Asia Pacific, Latin America and Africa.
The Global Wealth Report 2011 from Credit Suisse research said total global wealth jumped 14 percent between January 2010 and June 2011, ending the period at $231 trillion, with Asia Pacific countries responsible for 54 percent of the rise.
Chief Executive Officer for Asia Pacific at Credit Suisse, Osama Abbasi, said , "These are times of unprecedented economic change, and a radical reconfiguration of the world's economic order is taking shape".
He added that, emerging markets were important drivers of the global recovery and remained the key growth engines of global wealth. With an expected $81 trillion, the United States is seen remaining in the top spot in 2016 in terms of total household wealth, while China is set to leapfrog Japan into second place by almost doubling its household wealth to $39
trillion.
Adults in Switzerland, Australia and Norway are the richest in the world, with Swiss adults holding average wealth of $540,010, the only country where the average adult has more than $500,000.
Accra, May 17, 2012
Government’s management of revenue generated from the country’s oil and gas resources will today come under intense scrutiny ... 