Dubai: Average wealth per adult in Qatar stands at $109,369 (Dh401,649), which is higher than that of Korea, Greece, Portugal and Spain, and only just below the European average, according to estimates released yesterday by the Credit Suisse Research Institute (CSRI).
Similarly, wealth per adult in the UAE has reached $150,000, which is higher than that of the Netherlands, according to the CSRI's Global Wealth Report.
The report finds that the global wealth currently held by 4.4 billion adults globally has increased 72 per cent since 2000 to $195 trillion.
Driven by robust econ-omic expansion in the emerging markets, the CSRI estimates that global wealth will grow 61 per cent to $315 trillion by 2015.
The middle segment of the wealth pyramid is composed of one billion individuals who are located in the fastest-growing economies of the world and who hold one-sixth or $32 trillion of global wealth, it said. Almost 60 per cent, or 587 million individuals, in the middle segment of the wealth pyramid are located in Asia Pacific.
Wealth generator
China stands out as the third-largest wealth generator in the world, behind only the US and Japan, and is 35 per cent ahead of the wealthiest European country, France.
China has total household wealth of $16.5 trillion, behind only the US ($54.6 trillion) and Japan ($21.0 trillion).
If historic growth trends continue, total household wealth in China could rise 111 per cent to $35 trillion by 2015, outstripping Japan to become the second highest in the world.
Osama Abbasi, Chief Executive Officer Asia Pacific, Credit Suisse, said: "The report confirms that Asia Pacific countries, which now make up the bulk of the world's middle class of emerging consumers, are driving the growth of the world's wealth.
"Economic expansion in key markets in Asia Pacific means that today growth in average household wealth per adult is up to 10 times the global growth rate."
Stefano Natella, Global Head of Equity Research for Investment Banking and a member of the CSRI Operating Committee, said: "A further important finding is the emergence of the middle segment of the wealth pyramid, which is composed of one billion individuals located in the fastest-growing economies of the world. They have average wealth per adult of $10,000 to $100,000. This middle class of wealth holders owns one-sixth or $32 trillion of global wealth."
Richest nations
At the top of the wealth pyramid, there are over 1,000 billionaires globally, of which 245 are in Asia Pacific, 230 are in Europe and 500 are in North America.
Moving down the pyramid, there are 80,000 ultra-high-net-worth individuals (average wealth per adult above $50 million).
Of the 24 million other high-net-worth individuals (average wealth per adult of $1 million to $50 million), just over 800,000 are in China, around 170,000 are in India and over four million are in the rest of Asia Pacific. Below this, more than 330 million individuals have average wealth per adult of $100,000 to $1 million.
Switzerland and Norway have emerged as the richest nations in the world in terms of average wealth per adult, which stands at $372,692 and $326,530, respectively.
They are followed by Australia, which is in third place with average wealth per adult of $320,909 and Singapore with average wealth per adult of $255,488. Figures for Australia and Singapore have both doubled in the last decade.
At the base of the wealth pyramid, there are three billion people with average wealth per adult of below $10,000, of which 1.1 billion own less than $1,000 and 307 million are in India.
Some 2.5 billion people are as yet unbanked.
As the wealth of this significant group grows, it will both require and fuel the creation of new financial services.
