Allianz Global Wealth Report 2011
Allianz published the second edition of its Global Wealth Report, which analyses wealth and debt dynamics of private households in 50 countries. It shows that last year’s marked global upswing paid dividends for savers. Gross global financial assets climbed in 2010 by 6.2 per cent to total EUR 95.300 trillion. For the first time, the previous record from end-2007 is surpassed.
However, strong growth in 2010 cannot hide the fact that overall wealth dynamics have been subdued in recent years. Gross financial assets have been growing by an average of 4.1 percent a year since 2000; per capita growth at 3.2 percent was even slower. “Compared with global economic growth and inflation over the same period, this performance is rather disappointing,” said Michael Heise, Chief Economist at Allianz. “Recurring financial crises and stock market slumps have taken their toll on savers.”
You can download the full paper for free here.