Editor's letter

In 2023, wealth growth across the world was 4.2% compared to the 3% contraction in the previous year. This shows promising signs for the year ahead and the sector in general.

This was driven by wealth growth in Europe, the Middle East and Africa, EMEA, (4.8%), as well as Asia Pacific, APAC, at 4.4%.

According to UBS and its Global Wealth Report, adults in EMEA were the wealthiest on average ($166,000), followed by APAC with ($156,000) and the Americas ($146,000). However, average wealth grew at the slowest pace since 2008 at 41% compared to 122% in APAC and 110% in the Americas in the same timeframe.

Overall wealth has grown fastest in APAC – by nearly 177% since 2008 – and has been accompanied by significant spike in debt, which has grown by over 192% in the same timeframe.

It seems as if the difficult years of Covid-19 and startling inflation could be over.

Patrick Brusnahan, editor