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Credit Suisse report finds Australians are now richest people in the world


Australia is the world’s richest country following a surge in property prices with the typical resident now worth more than $400,000, a Swiss bank has declared.

Credit Suisse’s annual Global Wealth Report for 2022 revealed Australia is the world’s wealthiest nation based on the median – or middle – wealth of every adult. 

The typical Australian adult was worth $US273,900 ($A409,075), the bank found – making them richer than the likes of residents in Belgium, New Zealand, Hong Kong, Denmark, Switzerland, Canada, Netherlands, the United Kingdom and France.

The report noted median wealth – as opposed to average wealth – was higher in countries with less income inequality, and that Australia had particularly benefited from a surge in pandemic relief measures and record-low 0.1 per cent interest rates.

Australia is the world's richest country following a surge in property prices with the typical resident now worth more than $400,000, a Swiss bank has declared. Credit Suisse's annual Global Wealth Report for 2022 revealed Australia is the world's wealthiest nation based on the median - or middle - wealth of every adult (pictured is a woman at Sydney's Bondi Beach)

Australia is the world’s richest country following a surge in property prices with the typical resident now worth more than $400,000, a Swiss bank has declared. Credit Suisse’s…



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Written by Bourbiza Mohamed

A technology enthusiast and a passionate writer in the field of information technology, cyber security, and blockchain

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