Credit Suisse: Israeli Wealth Increased 17.6% in 2021


Credit Suisse

According to the Credit Suisse Research Institute‘s 2021 Global Wealth Report, the average wealth of an adult in Israel rose by 17.6% in 2021 to $273,500. The increase places Israel among the six largest wealth gaining nations in the world for 2021.

To put this in perspective, Credit Suisse found that in current dollars, wealth per adult was USD 215,146 in the United States in the year 2000 – more than 20 years ago. Today it is more than $500,000.

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This was the thirteenth annual Global Wealth Report published by the Credit Suisse Research Institute (CSRI).

The Credit Suisse Research Institute’s report found that global wealth came to $463.6 trillion in 2021, 9.8% more than in 2020. Wealth per adult, said the report, grew 8.4% to $87,789.

“Setting aside exchange rate movements, aggregate global wealth grew by 12.7% in 2021, which is the fastest annual rate ever recorded. However, factors such as inflation, rising interest rates, and declining asset price trends could reverse last year’s impressive growth in 2022,” the report states.

The report came out just as Israel’s Central Bureau of Statistics (CBS) recorded that in the second quarter of 2022 the country’s Gross Domestic Product (GDP) increased by an annual rate of 6.8%.

The sources available to the economy (gross domestic product and imports), reported the CBS, the GDP of Israel at constant prices and after deducting the effect of seasonality rose in the second quarter of 2022 by 6.8% compared to the previous quarter after a decrease of 2.7 % in the first quarter of 2022.

The CBS said that it should be noted, however, that the return to a normal life routine in the second quarter affected the increase in the gross domestic product so that the accommodations, the catering, the air transport services in the private consumption component, as well as the inbound tourism services in the component all, saw improvements.

The CBS said that exports contributed significantly to the increase in GDP in this quarter.