No Caption
No Caption Mark Bean

Australians are the richest people in the world

AUSTRALIANS are the richest people in the world, by one measure at least.

As the number of Australian millionaires rose by 38,000 to 1.123 million people, the median wealth of adult Australians stands at $233,504 (US$219,505) - the highest level in the world, according to the Credit Suisse 2013 Global Wealth Report, released on Wednesday.

Median wealth is the midpoint between richest and poorest.

By the measure of average wealth, Australians fall back to second with $426,844 (US$402,578) per person, ranking behind the Swiss who were the world's richest on $543,992 (US$513,000).

Credit Suisse Australia's chief investment strategist, David McDonald, said the nation's household wealth per adult grew by 2.6% in the past year. That was slower than the global average of 4.6%, but Australia still had the best distribution of wealth among developed nations.

Read more at the Guardian.


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