Israel is ranked in the top 10 nations worldwide in terms of wealth growth for 2018-2019, according to the Global Wealth Report 2019, published Tuesday by Credit Suisse.
Since 2000, the combined wealth of Israel's citizens has more than doubled and now stands at $1.08 trillion, the report finds. However, the authors expressed concerned about Israel's rate of wealth increase compared to the growth of its GDP.
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"The report points to a positive trend that supports Credit Suisse's strategic decision to focus on the Israeli market," says Ido Ben-Haim, head of private banking for Israel at Credit Suisse.
"According to the report, 131,000 millionaires live in Israel, and that number is expected to grow by 32% in the next five years, reaching 174,000," Ben-Haim said.
In 2018, world wealth grew by 2.6% to reach a total of $360 trillion, which means that Israeli wealth comprises 0.3% of all global wealth, whereas the population of Israel makes up only 0.001% of the global population.
The richest nation in the world, according to the report, is the United States, which last year held some 10.5% of the world's wealth, or $3.8 trillion. The US was followed by China, with $1.9 trillion in wealth, and the entire continent of Europe, with $1.1 trillion.
As of the second half of 2019, which is not yet over, there are 46.8 million millionaires worldwide, an increase of 1.1 million since 2018. 18.5 million millionaires live in the US, four times the number who live in China.
