Around 159,000 Portuguese had assets valued at over US$1 million at the end of last year, becoming part of the club which is home to a total of 62 million millionaires, according to Credit Suisse’s Global Wealth Report 2022.
Compared to 2020, the number of Portuguese millionaires fell by around 10,000, translating to a decrease of around 6 percent in one year – against the 9 percent growth recorded worldwide.
According to the Swiss bank report, each of the more than 8.3 million Portuguese adults had, on average, an estimated wealth of over 154,000 dollars (€154,000), which represents an increase of 8 percent in relation to the previous year and above the world average of $87,500. At the beginning of the decade, the average wealth of a Portuguese person was US$52,400.
The vast majority of Portuguese adults have an estimated wealth of between US$10,000 and US$100,000 (43.8 percent) and between US$100,000 and US$1 million (31.3 percent).
The Credit Suisse study shows that the number of people at the bottom of the wealth pyramid (with assets of up to US$100,000) has dropped, increasing at the top (with wealth above US$100,000).
While the rest of us struggle GREAT..
By J from Lisbon on 21 Sep 2022, 09:34
Another misleading article
Asset prices are starting to crash and the vast majority of that wealth is not in cash but assets.
Interest rate rises will destroy much of that wealth
By James from Algarve on 21 Sep 2022, 10:54