Report: India and China head list of countries for new wealth creation

A new report gives an insight into the world’s wealthiest countries of the future, with India top of the list for wealth creation, and predicts that China will be within “touching distance of America within 10 years.

The Global Wealth Migration Review 2018, published by AfrAsia Bank, measures countries by their total private wealth rather than GDP. According to the report, the world’s private wealth rose 12% in 2017 to $215tn (from $192 trillion at the end of 2016).

In terms of wealth creation, China is second only to India at 22% in the list of best-performing markets.

On trend
Compiling current and predicted wealth trends, the report forecasts that India will leapfrog Germany and Britain to emerge as the world’s fourth wealthiest country by 2028, based on a 200% growth rate over the next 10 years. The report values its potential private wealth at $24.69tn.

India, Asia’s third largest economy, currently ranks sixth wealthiest in the world, and yet is number one in the report’s list of Best Performing Wealth Markets with a current growth of 25% to $8.23tn.

Today, the US is the wealthiest country in the world at $62.58tn, followed by China ($24.80tn), Japan ($19.52tn), the UK ($9.91tn), Germany ($9.66tn), India ($8.23tn), France ($6.64tn), Canada ($6.39tn), Australia ($6.14tn) and Italy ($4.27tn) forming the top 10.

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ABOUT THE AUTHOR
Christopher Copper-Ind
Christopher Copper-Ind is Publisher and Editor of International Investment. His previous publishing experience focused largely on the Middle East and emerging markets, and he was Editorial Director of The Business Year, based in Istanbul, for three years before moving back to London in 2017. He is the author of How to Negotiate, to be published by Macmillan in 2019.

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