China to Boost Brazilian Soybean Imports in Early 2026 Amid Price Advantage 
MAS Holds Monetary Policy Steady as Strong Growth Raises Inflation Risks 
Philippine Economy Slows in Late 2025, Raising Expectations of Further Rate Cuts 
Starmer’s China Visit Signals New Era in UK–China Economic Relations 
Asian Stock Markets Rise on AI Optimism Ahead of Fed Decision and U.S. Tech Earnings 
Australia Wine Exports Fall in 2025 as Global Drinking Declines and China Demand Weakens 
Dollar Struggles as Policy Uncertainty Weighs on Markets Despite Official Support 
U.S. Stock Index Futures Steady as Fed Decision and Big Tech Earnings Loom 
U.S. Stock Futures Edge Lower as Tech Earnings and Fed Decision Shape Market Sentiment 
Oil Prices Hit Four-Month High as Geopolitical Risks and Supply Disruptions Intensify 
Bank of Canada Holds Interest Rate at 2.25% Amid Trade and Global Uncertainty 
RBA Expected to Raise Interest Rates by 25 Basis Points in February, ANZ Forecast Says 
Australia Inflation Surprise Fuels Rate Hike Expectations Ahead of RBA Meeting 
Oil Prices Climb as U.S. Cold Snap, Dollar Weakness Tighten Supply Outlook 
Asian Currencies Slip as Dollar Rebounds Ahead of Fed Rate Decision 
Bank of England Expected to Hold Interest Rates at 3.75% as Inflation Remains Elevated 
UK Vehicle Production Falls Sharply in 2025 Amid Cyberattack, Tariffs, and Industry Restructuring 
Global wealth increased by 4.2% in 2023, according to UBS's latest wealth report. Despite ongoing inflation, the United States and emerging markets drove this rebound, showcasing significant growth in wealth accumulation and millionaire populations.
UBS Report: Global Wealth Grows 4.2% in 2023, Despite Economic Upheaval and Inflation
The most recent edition of the annual UBS wealth report indicates that wealth is increasing once more following a decline during the pandemic, even though "the global economy is in the midst of a dramatic structural upheaval."
In its Global Wealth Report 2024, published on July 10, UBS examined income and wealth data from 56 markets, which collectively account for "92% of the world's wealth." The overall theme of the report was that global wealth increased by 4.2% in 2023, counteracting a 3% decline in 2022. Despite the ongoing inflation, modified global wealth experienced an 8.4% increase.
Nevertheless, the report indicated that the global wealth development rate decreased from an annual average of 7% between 2000 and 2010 to just over 4.5% between 2010 and 2023, equivalent to a nearly one-third decrease in global wealth.
The world's most developed and prosperous nations maintain their current growth rate. The average wealth per adult in the United States increased by nearly 2.5%, and the country is home to approximately 22 million millionaires, which accounts for 38% of the global millionaire population.
Mainland China ranked second with just over 6 million millionaires, followed by the United Kingdom with 3 million.
UBS Report Highlights Massive $83.5 Trillion Wealth Transfer and Rapid Growth in Asia-Pacific
According to Barron’s, the report also examined the escalating issue of wealth transfer. Global wealth will be transmitted to spouses and the next generation at a rate of US$83.5 trillion over the next 25 years. According to UBS, women will transmit 10% of this amount, and US$9 trillion will be transferred between spouses.
Since the report's inception 15 years ago, the Asia-Pacific region has experienced the most significant increase in wealth, with a roughly 177% increase. The Americas are the second most rapidly growing region, with a growth rate of nearly 146%. Surprisingly, Turkey has experienced the highest asset growth per adult of any nation in the past 15 years, with a rise of over 1,700% in local currency.
The world's wealthiest class remains a small, densely concentrated group. According to the report, only 12 individuals possess between US$50 billion and US$100 billion, and only 14 possess US$2 trillion of the world's wealth. Individuals in Western Europe hold an additional 25% of this wealth, while individuals in the United States and Canada have 44%.
The data from UBS indicates that emerging markets will continue to experience the most significant growth in global wealth, with some countries experiencing a millionaire growth of up to 50% over the next five years.
