The Allianz Global Wealth Report 2024 shows that global wealth continued grow last year despite economic uncertainty. Worldwide, private households' gross financial assets rose by 7.6% in 2023, with North America and Europe in particular recording strong increases. It is noteworthy, however, that income and wealth inequality continue to worsen.
The report also notes that wealth growth in Germany increased less compared to other countries. According to the Allianz report, Germany is in 15th place in the wealth rankings, although it is the third largest economy. According to experts, this is because many private individuals in Germany save their money instead of investing it in the capital market. This could be a driver of lower wealth growth in Germany compared to the rest of the world.
Sources: Allianz und Tagesschau.