Allianz Global Wealth Report 2023: The fun is over
Today, Allianz publishes its Global Wealth Report for the fourteenth time, which examines the wealth and debt situation of households in almost sixty countries around the world.
2022 was a disastrous year for savers. Asset prices fell uniformly in line with the full decline scenario. As a devastating result of this, the financial assets of households worldwide shrank by 2.7 percent, which is the most serious decline since the 2008 global financial crisis. At the same time, there are marked differences in the growth rate of the three main asset classes. While securities (-7.3%) and insurance/retirement savings (-4.6%) showed a significant decline, bank deposits showed a strong growth of 6.0 percent. All in all, financial assets suffered losses of €6.6 trillion, with total cash holdings at €233 trillion at the end of 2022. The decrease was most noticeable in North America (-6.2%), followed by Western Europe (-4.8%). In contrast, the pace of growth in Asia, with the exception of Japan, remained relatively vigorous. China’s monetary assets also grew strongly, by 6.9%. However, compared to the previous year (+13.3%) and the long-term average of the past twenty years (+15.9%), its development was disappointing – the multiple closures obviously left their mark.
Related news
What can companies do for workplace well-being?
Is workplace well-being just a good-sounding concept, or is it…
Read more >International research: job security is more important to young people than their salary
In recent years, it has become extremely important for employees…
Read more >Free cereals can come
Mycotoxins produced by plant pathogenic fungi belonging to the genus…
Read more >Related news
Valeo Foods Completes Acquisition Of Appalaches Nature
Valeo Foods Group has completed the acquisition of Appalaches Nature,…
Read more >Carrefour grows in France and Brazil, lags behind in rest of Europe
Carrefour says it is rather pleased with its financial results…
Read more >Food and beverage innovation plunges nearly 50% since 2007: Mintel
The market research firm said about a quarter of items…
Read more >