Swiss assets up again after previous year’s slump
Published: Tuesday, Sep 24th 2024, 12:10
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Swiss assets have risen again. Following the decline in the previous year due to the stock market slump, there was a recovery in 2023, albeit to a lesser extent than in the rest of the world.
With growth of 2.2 percent, asset growth in Germany is lagging behind the global trend of 7.6 percent, according to the new Global Wealth Report from insurer Allianz Global. Despite a tightening of monetary policy, national economies have proven resilient and the markets have even boomed, according to the reasoning behind the general upward trend.
Despite the somewhat slower increase, Switzerland remains one of the richest countries in the world. With net financial assets - i.e. after deducting liabilities - of 255,440 euros per capita, Switzerland had to admit defeat to the USA this time. The United States had the highest net per capita wealth in the world at 260,320 euros.
High debt, strong real estate market
However, nowhere else is per capita debt higher than here. And it is precisely these liabilities that have pushed Switzerland out of first place. The per capita debt of the Swiss will amount to 127,470 euros in 2023, with Norway (77,980 euros) and Australia (72,480 euros) a distant second and third.
In addition to the high assets and simultaneously high debt per capita, Switzerland is also the undisputed leader in real estate assets and bucked the trend in Europe by increasing by a further 3.6% in 2023. According to the experts, the Swiss housing market has thus defied the interest rate turnaround.
However, according to Allianz, Swiss savers have three lost years behind them. Adjusted for inflation, financial assets remained at the previous year's level and hardly changed compared to 2020.
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