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IPFS News Link • Economy - International

Which Countries Are Really The Richest?

• https://www.zerohedge.com, by Tyler Durden

But, as Statista's Katharina Buchholz details below, sorting countries for their per-capita average wealth – or even for their median per-capita wealth – other countries come out on top.

Using the two metrics, Switzerland was the richest country in the world with the highest average per-capita wealth of around US$685,000 per adult.

Looking at median per-capita wealth - the wealth of the person that shares their country with an equal number of richer and poorer people - Iceland tops the ranking with around $413,000 in wealth being held by this (imaginary) person.

Per-capita assets arguably show a more balanced picture of a country's wealth by acknowledging that smaller countries with less citizens will of course accumulate less wealth in total.

Yet, calculating averages does not take into account how wealth is distributed in a society.

Median wealth, on the other hand, increases the more equal a country's assets are allocated. Iceland and other Scandinavian countries are known for their more equal wealth distribution and data by Credit Suisse reflects this to a degree. Denmark comes in rank 7 and Norway in rank 10 for per-capita median wealth.

The U.S. is the third-wealthiest country on a per-capita average basis, yet Americans are only in rank 15 for median wealth.

The situation in Belgium is the other way round: It is listed 13th for average wealth, but third for median wealth, showing that it is a more egalitarian country in terms of wealth distribution.

Looking at the size of the gap between mean and median wealth, the U.S. comes in rank 7 with an average wealth more than five times or 512% as high as the median wealth. This is exceeded by no major country in the world except Brazil, where this number stands at 517%.


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