24 ° C
Sunny Intervals
Breaking News

A new case of Covid-19 on 27 June brings total in Monaco to 103: 3 home monitored, 95 cured, 1 resident death

Monaco tops wealth table

Monaco tops wealth table

By Staff Writer - March 8, 2017

Monaco portMonaco is easily the world’s wealthiest country per capita, followed by Liechtenstein and Luxembourg, according to a report by research firm New World Wealth. The average private wealth per person in Monaco is $1.7 million, the firm said, without elaborating on whether the figure includes both Monegasques and official residents.

New World Wealth estimated that the UK’s total wealth – the private wealth held by all individuals in the country, including assets – is $8.7 trillion (£7.1 trillion), a fall of five percent from 2015, from $9.2 trillion, due primarily to the decreasing value of sterling since the vote to leave the European Union.

France, Italy and Germany also saw a decrease in their total private wealth. France’s figure of $6 trillion, which marked a 10 percent fall from 2015, was due to lack of new businesses formations and a large outflow of millionaires from the country, the report said. Italian wealth fell more markedly, from $5 trillion to $3.9 trillion – a drop of 12 percent thanks to the country’s high state pension obligations and fears of a banking crisis. Germany experienced a six percent decrease to $8.7 trillion, a result of an outflow of millionaires, but also because of the migrant crisis and a loss of jobs to Asia.

The United States was first in the table in terms of total private wealth, at $51.3 trillion, while China came in second with $19.1 trillion. In third place was Japan, with $16 trillion. India was up 12 percent to $6.2 trillion, and Canada, up 15 percent to $5.4 trillion. Australia also grew strongly, up 11 percent to $5 trillion.

New World Wealth said last month that Australia was the world’s most popular country for migrating millionaires, who are drawn Down Under by its proximity to emerging markets in Asia and its successful health care system. New Zealand is also increasingly popular with the very wealthy.

An estimated 11,000 millionaires made their way to Australia last year, putting it on top of the table for the second year in a row. That compared to 10,000 who moved to the US, and 3,000 who moved to the UK.



Monaco most expensive on all counts


The White Paper: When should you set up a Family Office?

Previous articleFilm screening Thursday for International Women’s Day in Monaco 
Next articleMonaco insurer Suissecourtage opens Florida office


July 1, 2020 | Business & Finance

Jeremy Williman’s Dragonfly capstone

Simon Pavitt

Jeremy Williman, the man behind the retractable barrier system ‘Tensabarrier’, speaks about his new project, the ‘Dragonfly’, a hyperscooter bringing luxury to the future of micro-mobility.

July 1, 2020 | Business & Finance

Inflation up in Eurozone

Stephanie Horsman

Inflation unexpectedly rose in June in the Eurozone, prompting fear among experts that consumer price growth will be stunted for several years.

June 30, 2020 | Business & Finance

Government lays out latest recovery plan

Cassandra Tanti

Monaco will extend its financial support for businesses most affected by the Covid crisis as part of a new four-point plan to revive the local economy.

June 25, 2020 | Business & Finance

Development dispute doesn’t end well for Monaco

Cassandra Tanti

The State of Monaco has been ordered by the Supreme Court to pay Caroli Immo €137 million plus interest over the abandoned Esplanade des Pêcheurs project.