Weather
Monte-Carlo, MC
broken clouds
8.8 ° C
12 °
2.2 °
87%
3.6kmh
75%
Tue
13 °
Wed
13 °
Thu
13 °
Fri
12 °
Sat
13 °
Breaking News

Prince Albert completes historic dive to the 'Midnight Zone' for ocean research

Monaco residents rank number one

Monaco residents rank number one

By Staff Writer - August 23, 2016

Photo: Tobi 87
Photo: Tobi 87

Major economies continue to dominate the global ranking of the richest countries, with one nation’s private fortunes jumping by $200 billion (€177 billion) in six months alone, according to a new report released on Tuesday.

New World Wealth ranked the different countries according to the total amount of wealth, including property, cash, equities and business interests, held by all individuals as of June 2016. At least three countries from Asia appeared on the list, while four from Europe made it to the rankings.

Accumulating $48.9 trillion (€43 trillion) in wealth, the United States topped the overall list, followed by China, Japan, the United Kingdom and Germany in the top five. Rounding up the top ten are France, India, Canada, Australia and Italy.

Analysts are impressed by Australia’s showing in the top ten, considering that the country only has a population of 22 million. Australia, as well as Canada, has also overtaken Italy over the past 12 months, while China posted the fastest wealth growth over the past 15 years.

In terms of wealth held per person, European countries dominated the global rankings, with Monaco taking the number one spot. As of June 2016, the average person in Monaco owns $1.6 million (€1.42 million) in wealth, the highest in the world, reports New World Wealth, which also said the high average of wealth of Monaco’s residents can be attributed to the country’s tax-free regime. (Source: Gulf News)

shares
SHARE
Previous articleHeatwave alert in effect
Next articleSummer party for Outward Bound Monaco

daily

February 15, 2020 | Business & Finance

Hôtel de Paris earns 5th star

Cassandra Tanti

The Hôtel de Paris Monte-Carlo has received a 5th star, the highest level, in the international rankings of the esteemed Forbes Travel Guide 2020.

0
February 14, 2020 | Business & Finance

ASM welcomes new additions

Cassandra Tanti

AS Monaco has announced the arrival of Markus Breglec and Tyson Henly as Chief Marketing Officer and Chief Commercial Officer respectively.

0
February 13, 2020 | Business & Finance

Moët Hennessy goes ‘green’

Stephanie Horsman

Moët Hennessy has just announced they will be shifting to organic and sustainable practices, going so far as creating a ‘University of Living Soils’.

0
February 10, 2020 | Business & Finance

Markets weekly

Barclays

The financial markets’ focus this week will remain divided between economic fundamentals and the uncertainty around the coronavirus outbreak. On the data front, the week is due to be relatively quiet.

0