By Edwig Ban
Romanians are now, for the first time, wealthier than any neighboring nations, including Hungarians, according to the Credit Suisse report 2018.
In 2018, the wealth per adult in Romania is estimated at USD 42,282, compared with USD 41,118 in Hungary, USD 30,224 in Bulgaria, USD 19,582 in Serbia, USD 5,204 in Ukraine and USD 3,837 in Moldova, Credit Suisse’s “Global Wealth 2018” report indicates. Romania has had a very fast growth over the last two decades, but started out from a very low base. In 2017, Romania's GDP was close to 7%, among the largest in the world and the largest in the EU.
In 2000, Romania had a wealth per adult of only USD 3,300, much lower than that of Hungary (USD 11,882) or even Georgia (USD 4,494).
But this year, Romanians are considered almost two times wealthier than Argentinians or Russians and three times wealthier than Brazilians, according to Credit Suisse. However, Romanian nationals are still less wealthy than the Polish (USD 53,511 per adult) or the Czechs (USD 62,340). However, Romanians remain much poorer than Western European nations like Britons (USD 314,842 per adult), French (USD 281,339), or Germans (USD 250,856).
The ninth edition of the Global Wealth Report published by the Credit Suisse Research Institute provides the most comprehensive and up-to-date source of information available on global household wealth. During the twelve months to mid-2018, aggregate global wealth rose by $14.0 trillion (4.6%) to a combined total of $317 trillion, outpacing population growth. Wealth per adult grew by 3.2%, raising global mean wealth to a record high of $63,100 per adult. The US contributed most to global wealth adding $6.3 trillion and taking its total to $98 trillion. This continues its unbroken run of growth in both total wealth and wealth per adult every year since 2008. Unsurprisingly, China is now clearly established in second place of the world wealth hierarchy. The country overtook Japan with respect to the number of ultra-high net worth (UHNW) individuals in 2009, total wealth in 2011 and the number of millionaires in 2014.