We certainly live in the best country in the world, at the best time in history.
According to market research company New World Wealth, the world has accumulated $215 trillion in private wealth, a 12% increase over the last year.
Incredibly, the vast majority of this wealth – about 73.5% – is held by just 10 countries and when you look at the chart below you'll see that Australia is punching well above its weight:-
|Rank||Country||Wealth ($ Trillions)||Change (2007-2017, %)|
Over the last decade, China and India have more than doubled their wealth.
Meanwhile, developed economies like the United States and Japan have increased wealth at modest rates – and some, like Italy and France, even lost modest amounts of private wealth over that duration of time.
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And according to New World Wealth, the best is yet to come for Australia, as the same 10 countries will dominate the landscape – but the order will change over the next decade with Australia moving up the ranks increasing its wealth at a rate that is very impressive for a developed economy.
By 2027, it’s expected to be the world’s seventh richest country in terms of private wealth, with a total of $10.4 trillion.
|Proj. Rank||Country||Proj. Wealth ($ Trillions, 2027)||Change (2017-2027, %)|