Study: Global wealth reached record high in 2021 despite Covid pandemic
June 9, 2022, 12:18 pm

Study: Global wealth reached record high in 2021 despite Covid pandemic

The world's total wealth rose by 10.3% in 2021 to reach $473 trillion. The rise was the biggest in over a decade - Pic. Pixabay

A study published by the Boston Consulting Group (BCG) on Thursday (June 9) that the world's total wealth rose by 10.3% in 2021 to reach $473 trillion, mainly thanks to the stock market boom.

The Anews reported, citing DPA, the rise was the biggest increase in over a decade, with the number of super-rich, defined by BCG as those with assets worth over $100 million, rose by some 300 people.

It said that the United States boasted the most members of the club, with 25,800, followed by China with 8,500 members. Germany was in third place. Worldwide, some 69,000 super-rich individuals held 15% of investable financial assets.

United States-Time Square in New York city/Pixabay

Tangible assets, including real estate, art and gold, rose in value by 11% to $13 trillion in 2021. Real estate in particular has been growing strongly in value for some time.

Despite the economic consequences of the Ukraine war, the BCG report predicted wealth would continue to grow worldwide, with strong increases expected above all in Asia.

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The study noted that if the Russian attack on Ukraine ends this year, global wealth is expected to grow by 5.3% annually to reach almost $80 trillion by 2026. The study calculated an average increase of 5% if the war continues and sanctions are tightened or last longer.

Source: anews

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has sponsored the BuildHer CityHack 2025 Hackathon, a two-day event spearheaded by the College of Engineering and Technology at the Royal University for Women (RUW).
Aimed at secondary school students, the event brought together a distinguished group of academic professionals and technology experts to mentor and inspire young participants.
More than 100 high school students from across the Kingdom of Bahrain took part in the hackathon, which featured an intensive programme of training workshops and hands-on sessions. These activities were tailored to enhance participants’ critical thinking, collaborative problem-solving, and team-building capabilities, while also encouraging the development of practical and sustainable solutions to contemporary challenges using modern technological tools.
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Professor Riyadh Yousif Hamzah, President of the Royal University for Women, commented: “This initiative reflects our commitment to advancing women in STEM fields. We're cultivating a generation of creative, solution-driven female leaders who will drive national development. Our partnership with BENEFIT exemplifies the powerful synergy between academia and private sector in supporting educational innovation.”
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