Move over Davos. We might not feel it, but the typical Australian is richer than the typical person in any other country in the world, according to a survey.
Australia has seized from Switzerland the global title of having the highest “median wealth per adult”, in Credit Suisse’s 2018 Global Wealth Report released on Friday.
Not only are Australians relatively rich by global standards, our wealth is more evenly distributed across the population than many other countries, it finds.
Wealth is defined in the report as the sum of all assets, including residential property, deposits, shares and super, minus all debts – a concept otherwise known as “net worth”.
The results show that if every Australian adult lined up in a row, the middle person would have a net worth of $US191,453 – about $270,000 at Friday’s exchange rate.