Sunday , March 26 2023

Feeling rich? New Zealand, 6th in Global Asset Report


New Zealand is the sixth richest country in the world.

Credit Suisse's Global Wealth report shows that only the United States, Belgium, Switzerland, Norway and Australia have outperformed adults, according to investment banking firm Credit Suisse.

But they do not share wealth equally, and in terms of median income, New Zealand falls eighth.

The United States, which is in the polls for the midterm elections this week, does not make the top 10 average earnings per capita by the degree of inequality.

Learn more:
* & Nbsp; Unfair breaks the middle NZ.
* New Zealand household assets are increasing, but inequality is high.
* The truth about inequality in New Zealand

As a result of the average per capita wealth, Australia is rated as the best place in the world to be an ordinary, honest and hardworking person.

The Credit Suisse Report is issued once a year and claims to be the most comprehensive asset report in the world today.

To rank countries, households are converted into US dollars.

Measurements in household households include financial assets such as pension savings and business assets, but also property tied to the home.

Due to the relative value of housing, some countries are ranked high, while other countries have relatively low housing prices.

The power economy in Germany and Europe was ranked 19th in terms of adult wealth.

"Credit Suisse will work as a Reserve Bank figure based on what the value of our home is," said Max Rashbrooke, an inequality researcher.

New Zealand can be a long way from anywhere, but it is one of the richest on earth.


New Zealand can be a long way from anywhere, but it is one of the richest on earth.

Rashbrooke added: "Asset data is not very reliable."

The Labor Party and the Green Party were among the policies that campaigned to raise the income of the poorest households and increase the ownership of the home.

Rashbrooke said it would take several years to determine the impact of data on wealth and inequality.

The International Monetary Fund's Global Housing Web site defines New Zealand as a special case of home prices: "The home price valuation metric is a measure of the value of New Zealand, Since 2000. "

The IMF said New Zealand's housing division is the result of several factors, including New Zealanders who prefer larger homes.

However, it pointed to the country that failed to build enough housing for the influx of credit and high prices.

"Since interest rates are relatively easy for banks to compete for mortgage market share, low interest rates have spurred an increase in mortgage lending and housing prices," the IMF said.

Globally, Credit Suisse estimated that there was $ 63,100 (NZ $ 93,670) worth of property per adult, but this was not equally distributed between countries and regions.

"Countries with more than $ 100,000 in assets per adult are located in rich countries in North America, Western Europe, Asia Pacific and the Middle East.

Switzerland (US $ 530,240), Australia (US $ 411,060) and the United States (US $ 403,970) took the league table per adult.

Followed by Belgium ($ 313,050), Norway ($ 291,100) and New Zealand ($ 289,800).

Canada, Denmark, Singapore and France were in the top ten.

However, when the rankings were made at the median, New Zealand slipped from two places behind Australia to the seventh along the ladder.

"The ranking of the central office per adult is favored by countries with low levels of inequality," Credit Suisse said.

"This year, Australia predicted that it would be ahead of Switzerland.

After the global financial crisis, there has been growing concern about the various levels of wealth inequality in the country.

The anti-poverty campaign group Oxfam also reports on global assets. The report, issued in January, claimed it had inherited money, although it did not make much money.

"The level of current extreme inequality is far greater than can be justified by taking on talent, effort and risk."

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