Ranking of the World’s Wealthiest Countries in 2023
Financial company Allianz has published its Global Wealth Report 2023, which analyzed data on the state of household budgets in 57 countries around the world. The report is based on the use of a methodology that includes analyzing the average level of household wealth, taking into account various sources of income, including currency accounts on bank deposits, investment assets (stocks, funds, bonds), pension funds, income from insurance companies, wages, and more.
According to the report, the top 10 countries in the world with the highest financial assets per capita in 2023 include Switzerland, the United States, Denmark, Singapore, Canada, Taiwan, Australia, Sweden, the Netherlands, and New Zealand. Switzerland is recognized as the wealthiest country but also has the highest level of debt per capita.
Top 10 Wealthiest Countries based on Financial Assets per Capita in 2023
| Rank | Country | Financial Assets per Capita (€) |
|---|---|---|
| 1 | Switzerland | €356.3 thousand |
| 2 | United States | €307.9 thousand |
| 3 | Denmark | €220.7 thousand |
| 4 | Singapore | €193.6 thousand |
| 5 | Canada | €170.4 thousand |
| 6 | Taiwan | €168.3 thousand |
| 7 | Australia | €163.5 thousand |
| 8 | Sweden | €162.8 thousand |
| 9 | Netherlands | €156.9 thousand |
| 10 | New Zealand | €150.7 thousand |
In addition to being the wealthiest country, Switzerland has also been recognized as the country with the highest per capita debt. On average, each resident of Switzerland has a debt of €117.5 thousand, significantly surpassing the debt level of the second country on the list, Norway, where per capita debt amounts to €80.3 thousand.
The report also indicates that in 2022, there was a 2.7% decrease in global private wealth, the largest decline since the 2008 financial crisis. However, household assets remain higher than before the pandemic, and experts forecast an increase in national wealth levels in 2023. Currently, household assets worldwide (adjusted for inflation) exceed the pre-pandemic level by an average of 6.6%.
Various sources of income were used in the data analysis, including savings, insurance companies, pension funds, and securities. Allianz also utilized statistics from governments and conducted surveys among households.
Despite its wealth, Switzerland has the highest per capita debt, primarily based on mortgage loans. The United States ranks first among the wealthiest countries when considering financial assets and debts. In the past year, U.S. residents had a higher level of net wealth than Swiss residents. According to statistics, the average net wealth per capita in the United States was €253.4 thousand, while in Switzerland, it was €238.7 thousand.
Based on an analysis of household budget data and various sources of income, Allianz forecasts an increase in national wealth levels in 2023. This provides hope for an improvement in the global economic situation and an increase in family well-being.
