The increase was helped along by a surge in demand for assets such as art, wine and property.
And despite all that’s going on in the world—from inflation to Russia’s invasion of Ukraine—global wealth is expected to keep rising over the next few years. In fact, the report says that about $80 trillion of new wealth is likely to be created in the next half-decade alone.
“Wealth development is resoundingly resilient, and even against the backdrop of geopolitical turmoil the growth rate will remain positive,” Anna Zakrzewski, the global leader of BCG’s wealth-management arm, said in aIn the coming five years, the Asia-Pacific region is expected the maintain the fastest rate of wealth growth. Asset values are expected to increase by a compound annual growth rate of 8.
Closer to home, North America will see its growth drop to 4.7 percent through 2026, the report suggests. Western Europe will see a slowdown to less than 4 percent. That’s compared with an average five-year growth of 9.1 percent and 4.5 percent, respectively. Both regions will still see continued increases in wealth.
BCG’s report also suggests that sustainable investing is climbing three to five times as fast as traditional investing. By 2026, sustainable investments could account for as much as 17 percent of privately invested wealth.
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